CCP Dumps

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AACE International CCP Certified Cost
Professional (CCP)
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What is AACE?
AACE International (formerly the Association for
the Advancement of Cost Engineering) was founded
in 1956 by 59 cost estimators and cost engineers
during the organizational meeting of the American
Association of Cost Engineering at the
University of New Hampshire in Durham, New
Hampshire.
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What is Cost Engineering?
Cost engineering is the engineering practice
devoted to the management of project cost,
involving such activities as estimating, cost
control, cost forecasting, investment appraisal
and risk analysis." "Cost Engineers budget, plan
and monitor investment projects.
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Certification
Technician Level Certifications
Certified Cost Technician (CCT)
A CCT is an individual who has demonstrated
proficiency in the basic skills and knowledge of
total cost management. Generally, those seeking
CCT certification represent early-career, young
professionals who have not yet achieved the
requisite years of experience needed to become
certified as a Certified Cost Professional (CCP),
or experienced mid- to late-career professionals
who are working to advance their cost engineering
skills.
Certified Scheduling Technician (CST)
A CST is an individual who has demonstrated
proficiency in the general skills and knowledge
of the scheduling process within the AACE
International Total Cost Management (TCM)
framework. Generally, CST represents early-career
professionals who are working to gain the
requisite years of experience, to become a
certified Planning Scheduling Professional
(PSP) or more experienced mid- to late-career
professionals who wish to be recognized for their
planning and scheduling skills.
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Certification
Professional - Level Certifications
Certified Cost Professional (CCP)
A CCP is an experienced practitioner with
advanced knowledge and technical expertise to
apply the broad principles and best practices of
Total Cost Management (TCM) in the planning,
execution and management of any organizational
project or program. CCPs also demonstrate the
ability to research and communicate aspects of
TCM principles and practices to all levels of
project or program stakeholders, both internally
and externally.
Certified Estimating Professional (CEP)
A CEP is a professional with vital expertise to
contribute to the economic evaluation of
potential projects by supporting the development
of budgets, project resource requirements and
value engineering. By applying the estimating
body of knowledge as outlined in AACEs
Recommended Practice 46R-11, the CEP estimates
costs of a determined scope in order to advise
management on project funding decisions. The
CEPs ability to clearly communicate cost
estimates, both verbally and written, to all
project stakeholders is critical to their success.
Certified Forensic Claims Consultant (CFCC)
A CFCC is an experienced claims professional and
testifying expert working in the construction
dispute resolution and litigation support
arenas. With emphasis on claims arising from
design and construction projects in countries
with common law or mixed law, where common law
is part of mixed law, the CFCC represents
practitioners and specialists who meet a
demanding set of claims preparation and dispute
resolution criteria comprising of experience,
education, and compliance with industry-accepted
ethical requirements.
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Decision Risk Management Professional (DRMP)
A DRMP is a senior-level practitioner with
business experience in life cycle asset and
project management with exhibited knowledge and
skills ranging from analytical to
socio/psychological to management. A DRMP also
has extensive technical experience in
specialized tools and services such as decision
analysis, cost risk and uncertainty analysis, and
schedule risk analysis. DRMPs demonstrate strong
communication skills to connect with all levels
of project stakeholders and are increasingly
employed by owners and stakeholders in their
decision making process whether it is for a go,
no-go decision on an investment interest or
determination of time and cost contingency
amounts for capital projects.
Earned Value Professional (EVP)
An EVP is a practitioner of Earned Value with
demonstrated mastery of contract language as it
relates to Earned Value application, the
organization of a projects scope into meaningful
structure for execution planning scheduling and
budgeting the project work from initiation
through close out using an integrated
cost/schedule tool highly proficient in
monitoring project progress for performance
measurement an earned value management system
(EVMS) and its related accounting component used
to record actual costs for a project or activity
generating relevant reports, understanding and
analyzing the information reported, using actual
cost data from, or reconcilable with, the
accounting system for management of a project or
activity and managing change to the scope of
work and/or any deviation, performance trend, or
change to an approved or baseline project
control plan, throughout the life-cycle of a
project or portfolio of projects in the public
and/or private sector. The experienced EVP will
have broad experiences in the interpretation of
the EV data/metrics and possess the skills to
provide coherent, relevant communications (oral
and written) to all levels of project
stakeholders (internal and external).
Planning Scheduling Professional (PSP)
A PSP is a skilled planning and scheduling
professional with advanced experience in project
planning, and developing, monitoring, updating,
forecasting and analyzing integrated project
schedules. The PSP leads the planning and
scheduling process within the AACE International
Total Cost Management (TCM) framework. A PSP is
able to communicate effectively with all project
stakeholders, both internal and external.
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Certified Cost Professional (CCP)
A CCP is an experienced practitioner with
advanced knowledge and technical expertise to
apply the broad principles and best practices of
Total Cost Management (TCM) in the planning,
execution and management of any organizational
project or program. CCPs also demonstrate the
ability to research and communicate aspects of
TCM principles and practices to all levels of
project or program stakeholders, both internally
and externally.
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Here are some questions that will help you in
your exam
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Question No 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. The following question requires your
selection of CCC/CCE Scenario 26 (2.5.50.1.2)
from the right side of your split screen, using
the drop down menu, to reference during your
response/choice of responses. Select the
statement that best describes the method to
estimate the cost of the new rides A. Break
down the technology into components B. Call
vendors for quotes C. Use historical data from
past projects D. Adjust known data from existing
rides Answer D
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Question No 2
An agricultural corporation that paid 53 in
income tax wanted to build a grain
elevator designed to last twenty-five (25) years
at a cost of 80,000 with no salvage value.
Annual income generated would be 22,500 and
annual expenditures were to be 12,000. Answer
the question using a straight line depreciation
and a 10 interest rate. How many years will it
take to earn 400 in interest on 800 at 4
compounded annually? A. 10 years B. 11 years C.
12 years D. 13 years Answer A
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Question No 3
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. The project scheduler left the company and
has left unfinished work. You have been hired as
the new project scheduler and must update the
existing schedule. What will be your
first task? A. Recalculate the early finish for
each activity B. Recalculate the early start for
each activity C. Update the remaining duration
for each activity D. Recalculate the critical
path Answer D
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Question No 4
Meetings require A. Goals, an agenda,
preparation, relevant discussions, support for
your actions and to consider the total physical
and human setting of the meeting B. Goals, an
agenda, preparation, conclusions, control and
conversations that are relevant C. Goals, an
agenda, preparation, control, good listening
skills and relevant discussions D. Goals, an
agenda, flipchart, computer projector, laser
pointer and consulting with others
where appropriate Answer B
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Question No 5
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. The following question requires your
selection of CCC/CCE Scenario 26 (2.5.50.1.2)
from the right side of your split screen, using
the drop down menu, to reference during
your response/choice of responses. What class of
estimate is used for the preliminary design phase
of a project? A. Class 5 - order of magnitude
estimate with 50 / -30 accuracy B. Class 1 -
order of magnitude with 30 / -30 accuracy C.
Class 4 - budget estimate with 30 / -15
accuracy D. Class 2 - definitive estimate with
15/-5 accuracy   Answer A
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Question No 6
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. When analyzing a precedence diagram
schedule, the "backward pass" A. Allows total
float to be calculated B. Determines the duration
of each activity C. Calculates the earliest
allowable start and finish times for the
activities in the schedule D. Allows activities
to finish as soon as all their 'predecessor'
relationships are satisfied Answer C
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Question No 7
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. The ability to determine cost overruns
of critical path activities B. The ability to
identify activities that cannot have their
schedules slip if the desired project end date is
to be achieved C. Reveals activities that
additional resources need to be dedicated
toward D. The ability to show slippage in the
progress of key activities Answer A
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Question No 8
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. In an exit interview, an employee comments
that the reason he is leaving the organization is
lack of teamwork and cohesion among his
co-workers. Which need of Maslow's hierarchy of
needs is unmet? A. Belongingness needs B.
Primary needs C. Self-actualization needs D.
Esteem needs Answer A
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Question No 9
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. The following question requires your
selection of CCC/CCE Scenario 26 (2.5.50.1.2)
from the right side of your split screen, using
the drop down menu, to reference during your
response/choice of responses. Why is a /-
notation necessary when developing an
estimate? A. Contingency cushion B. It makes up
for the lack of time to develop a real
estimate C. It is a government requirement D.
There are unknowns that affect the final cost of
a project Answer D
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Question No 10
The following question requires your selection
of CCC/CCE Scenario 6 (2.7.50.1.3) from the right
side of your split screen., using the drop down
menu, to reference during your response/choice
of responses. What is the range of unit
costs? A. 21.57 B. 26.65 C. 48.22 D.
485.00 Answer D
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(No Transcript)
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AACE International CCP Certified Cost
Professional (CCP)