1. Should historical information be used during resource planning?
A. no, since there is rarely any correlation between resource expectations on one project when compared to another.
B. Yes, as historical information is available can provide insight into what type of resources were required on previous projects of similar nature.
C. No, since historical information is usually misleading, given the cost of resources have undoubtedly changed since the completion of the prior project. D. Yes, since historical information can be easily adjusted to accurately determine current project costs.
2. Analogues estimating is a:
A.”Bottom-up” estimating technique. B.”Drop-down” estimating technique.
C. more costly and more accurately estimating technique.
D. technique used when you have no subject matter experts available.
3. Cost estimates:
A. are usually presented at a detailed level.
B. can be presented in summary of detail.
C. are summarized for senior management.
D. are provided in detail for senior management.
4. In cost monitoring, the s-curve depicts the relation between:
A. Schedule completion and time.
B. Cumulative value and time.
C. Schedule completion and value resources.
D. resources and time
5. In order to produce a cost base line, the project manager requires
A. Work packages, work breakdown structure and project schedule
B. cost estimates, work breakdown structure and the project schedule.
C. cost estimates, work packages `and project schedule.
D. cost estimates, work packages and work breakdown structure.
6. Which of the following is an indirect cost?
A. Units of Production.
B. Lights in the Project War Room.
C. Tax cost of Salary of project developers.
D. Paper purchased by the project.
7. Which of the following method is not a depreciation method?
A. Units of production.
B. Some of year’s digits
C. Declining balance
D. Straight line
8. An order of magnitude estimate is not also known as
A. a control estimate.
B. a ball park estimate.
C. a conceptual estimate
D. a preliminary estimate.
9. When the expected cash flow s –curve is above the cost performance base line the project manager should
A. investigate the variance to determine if a corrective reaction is required.
B. bring the situation to the attention of senior management for action.
C. adjust the cost baseline to reflect the actual cost to this point.
D. do nothing since the project is performing above plan.
10. Cost estimates may also be expressed in hour’s days etc., as long as
A. it does not result in a misstatement of the project cost.
B. the program manager agrees.
C. the unit of measure is consistent within the project.
D. the project manager agrees.