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Question of the Day
You are the Project Manager on a defense project. The buyer wants to get an idea on how much they will pay on cost overruns. With the following variables in mind, calculate the point of total assumption: Expected Cost=$120,000; Expected Profit=$36,000; Target Price=$156,000; Buyer/Share Ratio=75/25%; Ceiling Price=$150,000; Maximum Overrun=125%.
A) $112,000.00B) $106,400.00
C) $117,600.00
D) $100,800.00
Terminology of the Day
Dependency
A relationship between tasks represented in the way tasks are sequenced
Answer and Explanation to Yesterday's Question
Which of the following represents a rule of thumb associated with the WBS decomposition process?
A) Breakdown the work of the project until it is done by a single resource
B) Using an organizational structure appearance
C) Creating a WBS where the summary tasks are equal to the detail underneath it
D) Breaking work down to realistic level where work packages are the lowest level (Correct)
Explanation: A general rule of thumb is to break the work of the project work packages. Breaking work packages or tasks down to a single resource assigned is not always practical. Creating a WBS where the summary tasks are equal to the detail underneath it is a characteristic of a WBS. Using an organizational structure appearance is noise.
For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at http://www.crosswindpm.com/
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