Exam 5: Estimating Project Times and Costs

Which of the follow top-down methods is used when projects closely follow past projects in features and costs and result in costs being assigned by percentages to major segments of the project?

Project costs such as labor and materials are typically classified as ________ costs.

Estimates should be made based on ________ conditions, efficient methods, and a normal level of resources.

Due to the averaging out of under-estimates and over-estimates, a long duration project is more likely to be on target than a short term, small project.

The project structure chosen to manage the project will have little impact on the actual project work to be accomplished.

The cost to prepare a top-down budget will typically run ________ percent of the total project cost.

Which of the following is a good condition for top-down estimating?

The process of forecasting or approximating the time and cost of completing project deliverables is called

Learning curves are more likely to apply in situations where most of the costs are

The __________ 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.

In practice, estimating processes are frequently classified as