Exam 5: Estimating Project Times and Costs

The salary of the project manager and temporary rental space for the project team would be classified as ________ costs.

The ________ method for estimating project time and cost uses weighted variables based on major parameters and is frequently used in the development of software.

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.

Which of the following is a good condition for bottom-up estimating?

Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount.Which of the following methods is he using?

Typical kinds of costs found in a project include

A good starting point for developing time and cost estimates is

The use of past experience is almost always used primarily in the initial phases of a project.

Phase estimating uses both the bottom-up and top-down methods for estimating project time and costs.

Why are the estimates for a project's time and costs important for all phases of a project?

Using the ________ method of forecasting project time and costs is the preferred method for situations where the cost and time estimates are important, in a fixed contract situation, and when the customer wants a lot of detail.

Companies like Boeing, Kodak, and IBM are using which of the following for improving the estimating process?

In the ________ method of estimating project time and costs past projects are used as a starting point with adjustments made based on differences in the new project.

Laura is forecasting the time and cost of developing an intranet for a new customer.Her department has completed six such intranets for customers during the last two years.Although the proposed system is about the same size as the others she estimates that it will take about 10 percent less time and money.Which of the following methods is she using?

The ideal approach to estimating project time and costs is to use both the top-down and the bottom-up approach.

The ________ method of estimating project time and costs is useful for projects requiring the same task, group of tasks, or product repeated several times, especially if it is labor intensive.

Project estimates should be broken down into as much detail than and with as much accuracy as possible.

Identify and briefly describe the five major methods of top-down estimating.

The approach that begins with a top-down estimate for the project and then refines estimates as the project is implemented is known as ______ method.

Project costs are typically viewed from all of the following except: