Deck 9: Resources, Costing, and Control

Question 1

Resource allocation adjustments become less expensive later on in a project.

Answer 1

False

Question 2

Project costs do not contribute to the profit of an organization.

Answer 2

False

Question 3

Sunk costs are entirely linked to the production of the final product.

Answer 3

False

Question 4

Earned value is the budgeted amount of cost for work scheduled to be accomplished on a given activity for a given period of time.

Question 5

Identifying new risks is associated with monitoring and controlling a project.

Question 6

Baseline management focuses on identifying,evaluating,documenting,and managing changes.

Question 7

Cost is one of the major factors in a project's success.

Question 8

If cost variance is positive,it means that performing the activity cost more than the planned or budgeted cost.

Question 9

Planned value,actual cost,and break-even analysis are three variables used extensively in organizations to calculate variances.

Question 10

Corrective actions and preventive measures can bring a project back into compliance with the project management plan.

Question 11

Management plan updates are inputs to project control.

Question 12

ROME provides a rough estimate of what a project costs before the actual project has started.

Question 13

Schedule variance is planned value minus earned value.

Question 14

Losses of productivity and customer goodwill are examples of tangible costs.

Question 15

An indirect cost rate is the percentage of a project's indirect costs to its direct costs and is a standardized method of charging individual projects for their share of indirect costs.

Question 16

If schedule variance is negative,it means it took longer to perform the activity than planned.

Question 17

In a software project,the cost of designers,developers,and testers are examples of indirect costs.

Question 18

Estimating is the process of determining the cost of a project.

Question 19

A negative cost variance indicates the project is over budget.

Question 20

Office supplies,telephone,and utilities are examples of direct costs.

Question 21

In fixed duration,the amount of work is a fixed value.

Question 22

A RUE value above 1 indicates that the resources allocated to a project are not efficiently utilized.

Question 23

Costs that are constant regardless of changes in the level of project activities best defines

A)variable costs.
B)intangible costs.
C)indirect costs.
D)fixed costs.

Question 24

Project costs can be classified as each of the following except as

A)feasible.
B)direct material and labor.
C)fixed.
D)variable.

Question 25

Duration is defined as the total span of active working time that is required to complete an activity.

Question 26

Every aspect of a project has a technical dimension and a human dimension.

Question 27

Any material and labor costs that are necessary to complete a project,but do not become an actual part of the final project defines

A)nonspecific costs.
B)flexible costs.
C)indirect costs.
D)relaxed costs.

Question 28

RUI is an index that indicates how the resources on the project should be utilized for the remainder of the project.

Question 29

If the SPI is equal to 1.5,then the project is behind schedule.

Question 30

A set of approval stages that are required to change the attribute of a configuration item best describes

A)quality process analysis.
B)quality assurance.
C)cost monitoring.
D)configuration change control.

Question 31

If the SPI is .5,then the project is ahead of schedule.

Question 32

Resource planning steps include

A)level the resources.
B)construct a resource schedule.
C)quantify the required resources.
D)all of the above.

Question 33

CPI is the most important tracking metric in EVA.

Question 34

The cost resource variance is the schedule variance due to the difference between budgeted and actual units of resource.

Question 35

Costs that vary in direct proportion to changes in the level of project activities best defines

A)variable costs.
B)fixed costs.
C)flexible costs.
D)nonspecific costs.

Question 36

Which of the following focuses on identifying the factors that influence proposed changes to a project,evaluating these influences,and managing the changes in real time during project implementation?

A)quality control determination
B)integrated change control
C)time management
D)procurement management

Question 37

A process of tracking,reviewing,and regulating the progress of a project to meet the performance objectives defined in the project management plan best defines

A)monitoring and controlling of project.
B)determining quality standards.
C)managing and controlling quality.
D)defining and monitoring roles and authority.

Question 38

The process of managing change in hardware,software,documentation,and measurements best defines

A)critical chain project management.
B)PERT.
C)configuration management.
D)benchmarking.

Question 39

Resource leveling extends the project time and aims to minimize the period-by-period variations in resource loading by shifting tasks within their slack allowances.

Question 40

The costs of materials that are entirely linked to the production of the final product defines

A)indirect costs.
B)direct costs.
C)specific costs.
D)designated costs.

Question 41

Deviation from an original plan best defines

A)scope deviation.
B)variance.
C)design creep.
D)silver bullet syndrome.

Question 42

A potential benefit given up when one activity is selected over another best defines

A)sunk costs.
B)variable costs.
C)opportunity costs.
D)reflective costs.

Question 43

Which of the following prepares a detailed estimate from well-developed plans and real quotes?

A)BAC
B)AHE
C)ROME
D)DE

Question 44

Which of the following provides a rough estimate of what a project costs before the actual project has started?

A)AHE
B)ROME
C)DE
D)PARETO

Question 45

Which of the following compares schedule deviations only and does not take cost into account?

A)collaboration variance
B)quality variance
C)baseline variance
D)schedule variance

Question 46

Which of the following uses "work in progress" to indicate the future of a project?

A)earned value analysis
B)budget at compliance
C)planned value
D)cost variance

Question 47

Costs that are primarily indirect costs associated with project implementation best defines

A)fixed costs.
B)overhead costs.
C)implementation costs.
D)general and administrative costs.

Question 48

The ratio of earned value to actual cost best defines

A)cost performance index.
B)schedule performance index.
C)estimate at completion.
D)duration index.

Question 49

Incurred costs that cannot be changed by any decision and that cannot be recovered best defines

A)fixed costs.
B)sunk costs.
C)failure costs.
D)designated costs.

Question 50

Quantifiable costs related to an identifiable resource or asset best defines

A)attachable costs.
B)intangible costs.
C)tangible costs.
D)fixed costs.

Question 51

Methods employed in estimating costs include each of the following except

A)ROI.
B)DE.
C)AHE.
D)ROME.

Question 52

Which of the following compares cost deviations only and does not take schedule into account?

A)earned value
B)actual costs
C)cost variance
D)variable costs

Question 53

The process of determining the cost of a project best defines

A)procurement management.
B)cost decomposition.
C)quality control.
D)cost estimation.

Question 54

The baseline budgeted cost best defines

A)earned value.
B)planned value.
C)budget at completion.
D)cost variance.

Question 55

Unquantifiable costs relating to an identifiable source best defines

A)variable costs.
B)unspecified costs.
C)flexible costs.
D)intangible costs.

Question 56

Which of the following is an estimate made without detailed knowledge of a project?

A)AFFINITY
B)QMT
C)AHE
D)DE

Question 57

The amount of cost budgeted for completed work of a given activity for a given period of time best defines

A)earned value.
B)actual cost.
C)scheduled cost.
D)net present value.

Question 58

Laboratories used for multiple projects,expendable equipment,and depreciation of laboratory capital equipment are examples of

A)overhead costs.
B)general and administrative costs.
C)investigative costs.
D)intangible costs.

Question 59

The actual amount spent in completing the work accomplished within a given time period best defines

A)fixed costs.
B)actual costs.
C)designated costs.
D)earned value costs.

Question 60

The budgeted amount of cost for work scheduled to be accomplished on a given activity for a given period of time best defines

A)variance.
B)earned value.
C)actual cost.
D)planned value.

Question 61

The planning out of the resources used to execute the project best defines

A)systems design.
B)capital management.
C)feasibility analysis.
D)resource planning.

Question 62

Which of the following provides the efficiency of the utilization of the resources allocated to the project?

A)AHE
B)ROME
C)RUE
D)DE

Question 63

Creating a smoother distribution of resource usage is the purpose of

A)resource leveling.
B)crashing.
C)fast tracking.
D)scope creep.

Question 64

Resources include

A)people.
B)facilities.
C)equipment.
D)all of the above.

Question 65

A method to flatten the schedule when resources are over-allocated with a general idea to prevent team members from becoming over extended best describes

A)fast tracking.
B)resource-leveling heuristic.
C)crashing.
D)thought process mapping.

Question 66

A resource schedule specifies

A)resources required to complete the project.
B)timeframes for the consumption of each resource.
C)quantity of each resource required per week.
D)all of the above.

Question 67

The ratio of earned value to planned value best defines

A)variance at completion.
B)schedule performance index.
C)estimate at completion.
D)cost performance index.

Question 68

Steps taken to complete resource planning include

A)list the required resources.
B)quantify the required resources.
C)construct a resource schedule.
D)all of the above.

Question 69

Identify and define five types of project costs.

Question 70

Describe three common methods employed in estimating costs.

Question 71

Which of the following compares actual and baseline duration?

A)cost variance
B)resource variance
C)duration variance
D)work variance

Question 72

Outputs from the cost management process include each of the following except

A)detailed system specifications.
B)budget updates.
C)lessons learned.
D)revised cost estimates.

Question 73

Which of the following provides a unified approach to initiate all activities of a project and the necessary information for work to begin?

A)steering committee
B)project authentication system
C)systems development lifecycle
D)work authorization system

Question 74

Identify three opportunities created by embracing scope creep.

Question 75

The total span of active working time that is required to complete an activity best defines

A)schedule variance.
B)duration.
C)earned value.
D)work variance.

Question 76

The best estimate of the total cost at the completion of the project best defines

A)schedule performance index.
B)cost performance index.
C)estimate at completion.
D)variance at completion.

Question 77

The estimate required to complete the project if the project performance continues at this rate best defines

A)duration rate.
B)schedule variance.
C)variance at completion.
D)estimate to complete.

Question 78

Identify five benefits of EVA.

Question 79

Identify five metrics for monitoring project cost and schedule.

Question 80

Which of the following illustrates whether and how much the project will be over budget or under budget at completion?

A)variance at completion
B)schedule variance
C)estimate to complete
D)budget at completion