Question 1

In a learning curve, the improvement ratio is applied to which of the following items?

Accepted Answer

A) Direct materials 
B) Direct labor 
C) Overhead 
D) Both A and B are correct 
E) A, B, and C are all correct 
A) Direct materials 
B) Direct labor 
C) Overhead 
D) Both A and B are correct 
E) A, B, and C are all correct B

Question 2

Using a WBS permits the use of different levels of detail for different levels of management.

Accepted Answer

A) True 
 B)False  True

Question 3

Identify and briefly describe the four major methods of bottom-up estimating.

Accepted Answer

1.template method, 2.parametric procedure applied to specific tasks, 3.detailed estimates from the WBS work packages, and 4.phase estimating

Question 4

Resource shortages, in the form of people, equipment, or materials, is a good example of

Accepted Answer

A) Hidden interaction costs 
B) Things going wrong on a project 
C) Normal conditions not applying 
D) Changes in project scope 
E) None of these are correct 
A) Hidden interaction costs 
B) Things going wrong on a project 
C) Normal conditions not applying 
D) Changes in project scope 
E) None of these are correct

Question 5

Top-down estimates usually are derived from someone who uses experience and/or information to determine the project duration and total cost.

Accepted Answer

A) True 
 B)False

Question 6

Top-down estimates are most likely to occur during the ______ phase.

Accepted Answer

A) Concept 
B) Planning 
C) Execution 
D) Delivery 
E) All of these are equally likely 
A) Concept 
B) Planning 
C) Execution 
D) Delivery 
E) All of these are equally likely

Question 7

Describe the ideal approach for a project manager to develop optimal estimates for a project's time and costs.

Accepted Answer

Allow enough time for both the

Question 8

The apportion method is a top-down approach that uses the pooled experience of senior and/or middle managers to estimate the total project duration and cost.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following methods is not considered a top-down approach to estimating project time and cost?

Accepted Answer

A) Ratio 
B) Template 
C) Apportion 
D) Function point 
E) Learning curve 
A) Ratio 
B) Template 
C) Apportion 
D) Function point 
E) Learning curve

Question 10

Reasons why estimating time and cost are important include all of the following except:

Accepted Answer

A) To schedule work 
B) To determine how long the project should take and cost 
C) To develop cash flow needs 
D) To determine how well the project is progressing 
E) All of the above are valid reasons 
A) To schedule work 
B) To determine how long the project should take and cost 
C) To develop cash flow needs 
D) To determine how well the project is progressing 
E) All of the above are valid reasons

Question 11

Under what conditions would the top-down approach to estimating project times and costs be the best choice?

Accepted Answer

In the early stages of a proje

Question 12

Estimates that are typically based on estimates of elements found in the work breakdown structure are called ________ estimates.

Accepted Answer

bottom-up
Explanation: The bottom-up app

Question 13

The ________ approach to estimating project time and cost begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented.

Accepted Answer

phase estimating
Explanation: This appro

Question 14

Identify and briefly describe the two major categories of estimating project time and costs.

Accepted Answer

1.Top-down estimates made by t

Question 15

Identify the factors that should be considered to improve the quality of estimates for project times and costs.

Accepted Answer

1.planning horizon, 2.project

Question 16

Which of the following would be the best method for projects where the final product is not known and the uncertainty is very large?

Accepted Answer

A) Function point 
B) Template 
C) Learning curve 
D) Phase estimating 
E) Apportion 
A) Function point 
B) Template 
C) Learning curve 
D) Phase estimating 
E) Apportion

Question 17

The salary of the project manager and her administrative assistant is classified as direct labor costs.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not one of the bottom-up approaches to estimating project time and cost?

Accepted Answer

A) Parametric procedures applied to specific tasks 
B) Estimates for the WBS work packages 
C) Learning curve 
D) Template method 
E) All of these are bottom-up approaches 
A) Parametric procedures applied to specific tasks 
B) Estimates for the WBS work packages 
C) Learning curve 
D) Template method 
E) All of these are bottom-up approaches

Question 19

Identify the three major categories of project costs and give an example of each.

Accepted Answer

1.Direct costs (labor, materials, equipm

Question 20

Estimates that are usually derived from analogy or mathematical relationships are called ________ estimates.

Accepted Answer

top-down
Explanation: Top-down

In a learning curve, the improvement ratio is applied to which of the following items?

Using a WBS permits the use of different levels of detail for different levels of management.

Identify and briefly describe the four major methods of bottom-up estimating.

Resource shortages, in the form of people, equipment, or materials, is a good example of

Top-down estimates usually are derived from someone who uses experience and/or information to determine the project duration and total cost.

Top-down estimates are most likely to occur during the ______ phase.

Describe the ideal approach for a project manager to develop optimal estimates for a project's time and costs.

The apportion method is a top-down approach that uses the pooled experience of senior and/or middle managers to estimate the total project duration and cost.

Which of the following methods is not considered a top-down approach to estimating project time and cost?

Reasons why estimating time and cost are important include all of the following except:

Under what conditions would the top-down approach to estimating project times and costs be the best choice?

Estimates that are typically based on estimates of elements found in the work breakdown structure are called ________ estimates.

The ________ approach to estimating project time and cost begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented.

Identify and briefly describe the two major categories of estimating project time and costs.

Identify the factors that should be considered to improve the quality of estimates for project times and costs.

Which of the following would be the best method for projects where the final product is not known and the uncertainty is very large?

The salary of the project manager and her administrative assistant is classified as direct labor costs.

Which of the following is not one of the bottom-up approaches to estimating project time and cost?

Identify the three major categories of project costs and give an example of each.

Estimates that are usually derived from analogy or mathematical relationships are called ________ estimates.

Modern Project Management

Organization Strategy and Project Selection

Organization: Structure and Culture

Defining the Project

Developing a Project Plan

Managing Risk

Scheduling Resources and Costs

Reducing Project Duration

Leadership: Being an Effective Project Manager

Managing Project Teams

Outsourcing: Managing Interorganizational Relations

Progress and Performance Measurement and Evaluation

Project Closure

International Projects

Oversight

An Introduction to Agile Project Management

Project Management Career Paths

Filters

Exam 5: Estimating Project Times and Costs

In a learning curve, the improvement ratio is applied to which of the following items?

Using a WBS permits the use of different levels of detail for different levels of management.

Identify and briefly describe the four major methods of bottom-up estimating.

Resource shortages, in the form of people, equipment, or materials, is a good example of

Top-down estimates usually are derived from someone who uses experience and/or information to determine the project duration and total cost.

Top-down estimates are most likely to occur during the ______ phase.

Describe the ideal approach for a project manager to develop optimal estimates for a project's time and costs.

The apportion method is a top-down approach that uses the pooled experience of senior and/or middle managers to estimate the total project duration and cost.

Which of the following methods is not considered a top-down approach to estimating project time and cost?

Reasons why estimating time and cost are important include all of the following except:

Under what conditions would the top-down approach to estimating project times and costs be the best choice?

Estimates that are typically based on estimates of elements found in the work breakdown structure are called ________ estimates.

The ________ approach to estimating project time and cost begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented.

Identify and briefly describe the two major categories of estimating project time and costs.

Identify the factors that should be considered to improve the quality of estimates for project times and costs.

Which of the following would be the best method for projects where the final product is not known and the uncertainty is very large?

The salary of the project manager and her administrative assistant is classified as direct labor costs.

Which of the following is not one of the bottom-up approaches to estimating project time and cost?

Identify the three major categories of project costs and give an example of each.

Estimates that are usually derived from analogy or mathematical relationships are called ________ estimates.

Modern Project Management

Organization Strategy and Project Selection

Organization: Structure and Culture

Defining the Project

Developing a Project Plan

Managing Risk

Scheduling Resources and Costs

Reducing Project Duration

Leadership: Being an Effective Project Manager

Managing Project Teams

Outsourcing: Managing Interorganizational Relations

Progress and Performance Measurement and Evaluation

Project Closure

International Projects

Oversight

An Introduction to Agile Project Management

Project Management Career Paths

Filters