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Project Management in Practice Study Set 3
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Project Management in Practice Study Set 3
Business
Quiz 4 :
Budgeting the Project
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Quiz 4 :
Budgeting the Project
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Project budget is nothing more than the project plan, based on the WBS, expressed in monetary terms.
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True False
Q01
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True
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A budget is a plan for allocating resources.
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True False
Q02
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The project manager recognizes an expense when an invoice is actually paid.
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Q03
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False
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Organizations can use both top-down and bottom-up budgeting.
True False
Q04
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Bottom-up budgets are usually more accurate in the detailed tasks.
True False
Q05
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Most organizations use top-down budgeting.
True False
Q06
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For projects with S-shaped life cycles, top-down budgeting is most likely unacceptable.
True False
Q07
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Individual elements of project budgets are generally more accurate in bottom-up budgeting.
True False
Q08
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Budget cuts are usually disastrous to an exponential life-cycle project.
True False
Q09
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Organizational tradition has little or no impact on the firm's project budgeting.
True False
Q10
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Top-down budgeting typically results in better acceptance of the budget.
True False
Q11
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Overhead and indirect charges should not be assigned to a project.
True False
Q12
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With top-down budgeting, overlooking a small but important task can often cause a serious budgetary problem.
True False
Q13
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A key advantage of top-down budgeting is that the overall budget costs can be estimated quite accurately.
True False
Q14
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Budgeting a project is often more difficult than budgeting routine activities.
True False
Q15
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Because project budgeting is for a special case and the organization's budgeting process is for routine work, the project manager need not be familiar with the organization's accounting system.
True False
Q16
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The project's budget is merely the sum of its resource costs.
True False
Q17
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Activity budgets show expenses by task and expected time period of the expenditure.
True False
Q18
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A budget is a plan for allocating resources to project activities.
True False
Q19
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The project budget acts as a project control.
True False
Q20
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