Free PMP Exam Sample Question
The following PMP® exam sample question is taken from the Free PMP Exam Simulator at http://free.pm-exam-simulator.com - The answer is at the very bottom:
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____________ is the total cost to produce the product or service of the project while meeting the quality standards plus the operating cost.
A.) Total Cost of Ownership
B.) Estimated Cost
C.) Cost of Quality
D.) Budgeted Cost
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Hint: What is the total cost of a product?
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ANSWER AND EXPLANATION:
The correct answer is A
Explanation: Total Cost of Ownership is the total cost of a product including the development cost, quality activities cost, and operating costs. Cost of Quality means the Cost of Quality activities only. Neither Budgeted Cost nor Estimated Cost are the actual costs to produce the product.
Reference: PMBOK® Guide 4th Edition, page 327