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Question 1

A major theme park is expanding the existing facility over a five-year period. The design phase will be

completed one year after the contract is awarded. Major engineering drawings will be finalized two years after

the design contract is awarded and construction will begin three years after the award of the design contract.

New, unique ride technology will be used and an estimate will need to be developed to identify these costs that

have no historical data.

A cyclical process model was chosen as the basis for total cost management (TCM) because:

Options :

A : It is one of the basic tenets of quality improvement

B : Refinement is needed to prepare the estimate at completion (EAC)

C : Strategic assets and projects have inherent life cycles

D : It facilitates development of budgets and schedules

Answer: C

Question 2

A major theme park is expanding the existing facility over a five-year period. The design phase will be

completed one year after the contract is awarded. Major engineering drawings will be finalized two years after

the design contract is awarded and construction will begin three years after the award of the design contract.

New, unique ride technology will be used and an estimate will need to be developed to identify these costs that

have no historical data.

Cost engineers who feel completely satisfied and fulfilled by their work as part of a project team are said to

have reached the ______________ stage of Maslow's hierarchy of needs.

Options :

A : Need satisfaction

B : Belonging needs

C : Self-actualizations

D : Esteem

Answer: C