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Nokia CPM Sample Questions:

1. The Cost & Progress Manager is allocating overall cost estimates to individual activities to establish a baseline for measuring project performance. What is this process called?

A) Cost Management.
B) Cost Estimating.
C) Cost Control.
D) Cost Baseline creation.

2. What is NCC in Nokia?

A) Any cost overruns.
B) All subcontractor extra work costs.
C) All extra site visit costs.
D) Materialized risks.

3. The project is not completed until:

A) the lessons learned are completed.
B) the customer indicates their satisfaction and final payment is received.
C) final customer acceptance is received, and any other requirements for project closure as stated in the contract are met.
D) the assessment of overall project performance against plan is completed.

4. What is the formula of the "value of risk" in the quantitative risk analysis?

A) The impact of risk in EUR * the probability of occurrence in %.
B) The cost of transferring the risk in EUR / the probability of occurrence in %.
C) The risk contingency budget in EUR / the probability of occurrence in %.
D) The cost of risk mitigation in EUR * the probability of occurrence in %.

5. What is the correct approach when handling extra costs of which the customer is deemed
responsible and the relevant purchase order has been received?

A) Update estimate to completion (ETC) and update ordered works in cost baseline.
B) Update estimate to completion (ETC) and update materialized costs in cost baseline.
C) Estimate to completion updated.
D) Cost baseline updated.

Solutions: