Master AACE International CCP Exam with Reliable Practice Questions

Correct : A

Cost reduction is not a specific phase in the value engineering process. The five phases of value engineering are:

Information gathering: Collecting relevant data.

Creative: Brainstorming ideas for potential improvements.

Evaluation: Assessing the feasibility and impact of ideas.

Development: Refining the selected ideas into actionable solutions.

Presentation: Proposing the best solution to stakeholders.

While cost reduction is an overall goal of value engineering, it is not a distinct phase in the process.

Correct : A

To improve the quality of a cost/capacity factor estimate, it is crucial to validate the capacity factor from similar, recently completed projects. This approach ensures that the estimate is based on real-world data and reflects current conditions and practices. Other factors, such as labor productivity, labor rates, and equipment costs, are also important but validating the capacity factor directly addresses the specific nature of the estimate being discussed. Therefore, the correct answer is A. Validate the capacity factor from similar, recently completed projects.

Correct : C

The Function Analysis Phase is the primary activity that separates Value Methodology (VM) from other improvement practices. This phase focuses on understanding the essential functions of a project or system and identifying ways to improve them, making it a key component of VM. This distinguishes VM from other methodologies that might focus more on costs, benefits, or lifecycle considerations without a detailed analysis of function. Therefore, the correct answer is C. Function Analysis Phase.

Correct : B

A constructability review involves a multi-disciplinary team evaluating the methods used to deliver the project's scope, with the goal of improving efficiency, reducing risks, and minimizing costs. This review goes beyond just scheduling or cost analysis; it looks at the entire process to ensure the project can be built as intended. Thus, the correct answer is B. The review by a multi-discipline team to improve the methods of delivering the intended scope.

Correct : B

The float (or slack) in a project management context is calculated as the difference between the late start and the early start (or late finish and early finish). In this case:

Float=LateStartEarlyStart=144=10days\text{Float} = \text{Late Start} - \text{Early Start} = 14 - 4 = 10 \text{ days}Float=LateStartEarlyStart=144=10days

So, the correct answer is B. 10.