Exam 5: Estimating Project Times and Costs

Refining estimates may be necessary for a number of reasons.For example,a manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project and meet the needs of the customer is an example of

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Question 1

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

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Question 2

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phase estimating
Explanation: This approach begins with a top-down estimate for the project and then refines estimates for phases of the project as it is implemented.Some projects by their nature cannot be rigorously defined because of the uncertainty of design or the final product.Phase estimating is used when an unusual amount of uncertainty surrounds a project and it is impractical to estimate times and costs for the entire project.

The project management structure chosen to manage the project will have little impact on the quality of estimates.

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Question 3

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False

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

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Question 4

The top-down method for estimating project time and cost that uses weighted variables based on major parameters and is frequently used in the development of software is known as the ____________ method.

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Question 5

Rose is working on estimates for a project that is very similar to a previous project,in that it has many of the same features and those features have similar costs.Each feature or deliverable will represent the same percentage of the total cost as it did for the previous project.Rose is using the _________ method of top-down estimating.

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Question 6

Typical kinds of costs found in a project include all of the following EXCEPT

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Question 7

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

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Question 8

All task time estimates need consistent time units.

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Question 9

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

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Question 10

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

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Question 11

Estimating the total cost of a project by multiplying each major function by a complexity factor is an example of the apportion method of estimating costs.

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Question 12

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

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Question 13

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

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Question 14

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

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Question 15

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

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Question 16

Which of the following describes the consensus method?

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Question 17

Accounting would be an example of which of the following costs typically found in a project?

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Question 18

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

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Question 19

Estimates are supposed to be based on normal conditions.While this is a good starting point,it rarely holds true in real life.

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Question 20

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Refining estimates may be necessary for a number of reasons.For example,a manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project and meet the needs of the customer is an example of

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

The project management structure chosen to manage the project will have little impact on the quality of estimates.

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

The top-down method for estimating project time and cost that uses weighted variables based on major parameters and is frequently used in the development of software is known as the ____________ method.

Typical kinds of costs found in a project include all of the following EXCEPT

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

All task time estimates need consistent time units.

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

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

Estimating the total cost of a project by multiplying each major function by a complexity factor is an example of the apportion method of estimating costs.

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

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

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

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

Which of the following describes the consensus method?

Accounting would be an example of which of the following costs typically found in a project?

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

Estimates are supposed to be based on normal conditions.While this is a good starting point,it rarely holds true in real life.

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