PMP Certification Planning Questions Test 3

Question : 31 of 70

Marks: +1, -0

The estimated cost of completing all the activities considered in a schedule will be US

\$

14,500. The project's sponsor requires a level of certainty about the cost baseline of at least 90%. As a result of a Monte Carlo simulation, the projected cost calculated is:

Probability	Estimated Cost
40%	US $\$$ 10,000
50%	US $\$$ 12,000
60%	US $\$$ 13,000
70%	US $\$$ 15,000
80%	US $\$$ 18,000
90%	US $\$$ 20,000
100%	US $\$$ 21,000

What should the contingency reserve be in order to fulfill the sponsor's requirement?

US $\$$ 5,500
US $\$$ 6,500
US $\$$ 7,000
US $\$$ 8,200

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