Inputs and Outputs

Question 1

What is the cost baseline?

Answer 1

An approved version of the project budget, which is the cost estimate + contingency reserves and excluding management reserves

Question 2

What is the statement of work?

Answer 2

SOW is developed from the scope baseline and defines the scope that is to be included within a related procurement contract.

Question 3

What does the scope statement include?

Answer 3

1. The scope description
2. Deliverables
3. Acceptance criteria
4. Project exclusions (out-of-scope stuff)

Question 4

What is the schedule baseline?

Answer 4

An approved version of the schedule model.

Question 5

What does the scope baseline include?

Answer 5

An approved version of the scope statement, WBS, WBS disctionary.

Question 6

What is a WBS dictionary?

Answer 6

A document that provides detailed information about each component in the WBS.

Question 7

What is a resource breakdown structure?

Answer 7

A resource breakdown structure how you categorize resources (e.g., personel vs material vs equipment)

Question 8

Differentiate between cost baseline and project budget.

Answer 8

• Cost baseline is the aggregate of cost estimate and contingency reserve.
• The project budget includes the cost baseline and the management reserve.