Info

A. Analogous estimating

B. Bottom-up estimating

C. Commercial database

D. Procurement bid analysis

15. You have created a cost estimate for a new project that you'll be managing in your organization. All of the following should be included in your cost estimate, except for which one?

A. Description of the schedule activity's project scope of work

B. Assumptions made

C. Constraints

D. Team members the project will utilize

16. Linda is the project manager of a construction project. The budget for her project is $275,000. The project team made a mistake early in the project that cost $34,000 in added materials. Linda does not believe the mistakes will likely happen again because the team is 30 percent complete with the project and things are once again going smoothly. Her sponsor wants to know how much more funding Linda will likely need on the project. What should Linda tell the sponsor?

17. A project had a budget of $750,000 and was completed on time. The project expenses, however, were 15 percent more than what the project called for. What is the earned value of this project?

A. It is impossible to know, as not enough information has been given.

18. A project had a budget of $750,000 and was completed on time. The project expenses, however, were 15 percent more than what the project called for. What is the variance at completion for this project?

A. It is impossible to know, as not enough information has been given.

19. Marty's project has a cost variance of $44,000. He needs to complete what type of report?

A. Status report

B. Exceptions report

C. Forecast report

D. Lessons learned

20. You are a construction manager for a construction project. The project will be using a new material that the project team has never worked with before. You allot $10,000 to train the project team on the new materials so that the project will operate smoothly. The $10,000 for training is known as what?

A. Cost of quality

B. Cost of poor quality

C. Sunk costs

D. Contingency allowance

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

Get My Free Ebook


Post a comment