Project Management Study Set 3

Business

Quiz 5 :

Estimating Project Times and Costs

Quiz 5 :

Estimating Project Times and Costs

Question Type
search
arrow
Past experience is almost always used primarily in the initial phases of estimating.
Free
True False
Answer:

Answer:

True

Tags
Choose question tag
close menu
arrow
Top-down estimates usually are derived from someone who uses experience and / or information to determine the project duration and total cost.
Free
True False
Answer:

Answer:

True

Tags
Choose question tag
close menu
arrow
One guideline to follow when estimating time, cost and resources is to use several people to make the estimate for a task.
Free
True False
Answer:

Answer:

True

Tags
Choose question tag
close menu
arrow
All task time estimates need consistent time units.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Project estimates should be broken down into as much detail, and with as much accuracy, as possible.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Phase estimating is used when a project cannot be rigorously defined because of the uncertainty of design or the final product.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Organization culture can significantly influence project time and cost estimates.
True False
Answer:
Tags
Choose question tag
close menu
arrow
The project management structure chosen to manage the project will have little impact on the quality of estimates.
True False
Answer:
Tags
Choose question tag
close menu
arrow
If a project is internal to the company and relatively small, the bottom-up approach to estimating time and costs for the project is the best choice.
True False
Answer:
Tags
Choose question tag
close menu
arrow
The ideal approach to estimating project time and costs is to use both the top-down and the bottom-up approach.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Cost, time, and budget estimates are the lifeline for control; they serve as the standard for comparison of the actual and the planned throughout the life of the project.
True False
Answer:
Tags
Choose question tag
close menu
arrow
The process of forecasting or approximating the time and cost of completing project deliverables is called planning.
True False
Answer:
Tags
Choose question tag
close menu
arrow
The salary of the project manager and her administrative assistant are classified as direct labor costs.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Estimating the total cost of a project by multiplying each major function by a complexity factor is an example of the apportion method of estimating costs.
True False
Answer:
Tags
Choose question tag
close menu
arrow
After averaging out the underestimates and overestimates, a long-duration project is more likely to be on target than a short-term, small project.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Estimates that are typically based on estimates of elements found in the work breakdown structure are called bottom-up estimates.
True False
Answer:
Tags
Choose question tag
close menu
arrow
If time and costs are important to a project the top-down approach to estimating time and costs for the project is the best choice.
True False
Answer:
Tags
Choose question tag
close menu
arrow
The consensus method of estimating costs is a bottom-up technique.
True False
Answer:
Tags
Choose question tag
close menu
arrow
As long as everyone in a project adds a little padding to reduce risk, the project duration and cost estimates will be more accurate.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Estimating the total cost of a house by multiplying the total square feet by cost per square foot is an example of the apportion method of estimating costs.
True False
Answer:
Tags
Choose question tag
close menu
Showing 1 - 20 of 95