Questions

1. You are using a previous similar project to predict the costs of the current project. Which of the following best describes analogous estimating?

A. Regression analysis

B. Bottom-up estimating

C. Organizational process assets

D. Enterprise environmental factors

2. You are the project manager for a new technology implementation project. Management has requested that your estimates be as exact as possible. Which one of the following methods of estimating will provide the most accurate estimate?

A. Top-down estimating

B. Top-down budgeting

C. Bottom-up estimating

D. Parametric estimating

3. What does the cost change control system do?

A. It defines the methods to change the cost baseline.

B. It defines the methods to create the cost baseline.

C. It evaluates changes to the project costs based on changes to the project scope.

D. This is not a valid change control system.

4. You have just started a project for a manufacturer. Project team members report they are 30 percent complete with the project. You have spent $25,000 of the project's $250,000 budget. What is the earned value for this project?

A. 10 percent

D. Not enough information to know

Chapter 7: Managing Project Costs

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.

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