Cost Management Question 12

[admin]

A project manager has completed a detailed WBS and cost estimates for each work package. To create a cost baseline from this data , the project manager would?

a) Use the highest level of WBS to estimate analogously
b) Sum up the work package and risk contingency reserve estimates
c) Roll up work package estimates into the project total and add management reserves
d) Gain expert opinion of the project total costs

[admin]

The correct answer is B.

A cost baseline must include a contingency reserve for risks. It does not include a management reserve (choice C). Choices A and D should have been completed earlier.

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