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QUESTION 22 A project manager reports the following data on status of a WP within his project which started on schedule, ED=20 weeks AD= 35 weeks PD= 25 week Using EDM the duration status of the WP is: ( Underestimated and behind schedule () Overestimated and ahead of schedule () Underestimated but ahead of schedule () None of the above QUESTION 23 A company has entered into a cost-plus-fixed-fee contract with a state government. Does this contract reduce the contractor's risk in this project? @ a. Yes, because the company recover their costs and get the fixed fee. O b. no, because the fee varies with actual costs O c. no, because both parties can terminate the contract for convenience O d. no, because the campany can not recover all their costs and get the fixed fee as well. QUESTION 24 Clark construction is planning to participate in bidding for a project. The estimated bid value prepared by the estimation and costing department Q a. is not the same as project estimated direct cost plus indirect cost. @ b. is only an estimate and will be negotiated if contract is awarded by government. O c. may or may not include profit as part of the contract. O d. is final figure and can not be adjusted or negotiated. QUESTION 25 Cost estimation contingency or contingency needed to cover cost overrun due to lack of accuracy of the estimate is O a. the sum of all the cost estimation errors for all the WPs @ b. the gap between deterministic budget or total planned value and the potential required fund to complete the project at a given confidence level. ) (O c.the average of all the estimation errors times the number of WPs. O d. the sum of sorted, probability times impact, for all the potential errors