Project Management in Practice Study Set 3

Business

Quiz 4 :

Budgeting the Project

Quiz 4 :

Budgeting the Project

Question Type
search
arrow
Project budget is nothing more than the project plan, based on the WBS, expressed in monetary terms.
Free
True False
Answer:

Answer:

True

Tags
Choose question tag
close menu
arrow
A budget is a plan for allocating resources.
Free
True False
Answer:

Answer:

True

Tags
Choose question tag
close menu
arrow
The project manager recognizes an expense when an invoice is actually paid.
Free
True False
Answer:

Answer:

False

Tags
Choose question tag
close menu
arrow
Organizations can use both top-down and bottom-up budgeting.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Bottom-up budgets are usually more accurate in the detailed tasks.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Most organizations use top-down budgeting.
True False
Answer:
Tags
Choose question tag
close menu
arrow
For projects with S-shaped life cycles, top-down budgeting is most likely unacceptable.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Individual elements of project budgets are generally more accurate in bottom-up budgeting.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Budget cuts are usually disastrous to an exponential life-cycle project.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Organizational tradition has little or no impact on the firm's project budgeting.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Top-down budgeting typically results in better acceptance of the budget.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Overhead and indirect charges should not be assigned to a project.
True False
Answer:
Tags
Choose question tag
close menu
arrow
With top-down budgeting, overlooking a small but important task can often cause a serious budgetary problem.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A key advantage of top-down budgeting is that the overall budget costs can be estimated quite accurately.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Budgeting a project is often more difficult than budgeting routine activities.
True False
Answer:
Tags
Choose question tag
close menu
arrow
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
Answer:
Tags
Choose question tag
close menu
arrow
The project's budget is merely the sum of its resource costs.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Activity budgets show expenses by task and expected time period of the expenditure.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A budget is a plan for allocating resources to project activities.
True False
Answer:
Tags
Choose question tag
close menu
arrow
The project budget acts as a project control.
True False
Answer:
Tags
Choose question tag
close menu
Showing 1 - 20 of 69