ch05 Student 1 The process of forecasting or approximating the time and cost of completing project deliverables is cid 10 called cid 10 A Budgeting B Predicting C Estimating D Planning E Guesstimating 2 cid 10 the time cid 10 A 100 B 98 C 95 D 90 E 80 A Past experience B Work packages C Task analysis D Time and motion studies E Work breakdown structure cid 10 for project times and costs cid 10 A Planning horizon B People C Padding estimates D Profit E Project structure In practice estimating processes are frequently classified as cid 10 A Top down bottom up B Rough polished C Precise order of magnitude D Draft final E Both A and B are correct cid 10 3 A typical statement in actual practice is that estimates should have a probability of being met of 4 A good starting point for developing time and cost estimates is cid 10 cid 10 5 Which of the following is not one of the factors that need to be considered to improve quality of estimates 6 Ed is looking over the actual results of projects and comparing them to what was estimated He notices that projects that took six months or longer to complete were noticeably more off the estimates Which of the following factors is he recognizing cid 10 A Padding estimates B Planning horizon C Project structure D People E Organization culture cid 10 7 Janet is forecasting how much money her department needs to support a new project She estimates that two people and 25 000 in expenses will cover her needs Because management typically insists on reducing forecasts by 20 percent she increases her estimates to allow for that reduction Which of the cid 10 following factors is illustrated in this situation cid 10 A Padding estimates B Planning horizon C Project structure D People E Organization culture 8 Which of the following is a good condition for top down estimating cid 10 cid 10 A Cost and time important B Fixed price contract C Customer wants details D Internal small project E All of these are good conditions for top down estimating 9 Which of the following is a good condition for bottom up estimating cid 10 cid 10 A Strategic decision making B Internal small project C Fixed price contract D High uncertainty E Both C and D are good conditions for bottom up estimating 10 Top down estimates are most likely to occur during the phase cid 10 cid 10 11 estimates are most likely to use low cost efficient methods cid 10 cid 10 A Concept B Planning C Execution D Delivery E All of these are equally likely A Apportion B Ratio C Top down D Bottom up E All of these are equally likely cost cid 10 cid 10 A Ratio B Template C Apportion D Function point E Learning curve 12 Which of the following methods is not considered a top down approach to estimating project time and 13 Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount Which of the following methods is he using cid 10 A Ratio B Template C Apportion D Function point E Learning curve cid 10 14 Sean is forecasting the time and cost of developing a customized software program by looking at the number of inputs outputs inquires files and interfaces Which of the following methods is he using cid 10 A Ratio B Template C Apportion D Function point E Learning curve cid 10 15 Laura is forecasting the time and cost of developing an intranet for a new customer Her department has completed six such intranets for customers during the last two years Although the proposed system is about the same size as the others she estimates that it will take about 10 percent less time and money cid 10 Which of the following methods is she using cid 10 A Ratio B Template C Apportion D Function point E Learning curve 16 Learning curves are more likely to apply in situations where most of the costs are cid 10 cid 10 17 Which of the following is not one of the bottom up approaches to estimating project time and cost cid 10 cid 10 18 The approach that begins with a top down estimate for the project and then refines estimates as the A Materials B Labor C Overhead D Evenly spread over materials labor and overhead E All of these are equally likely situations for learning curves A Parametric procedures applied to specific tasks B Estimates for the WBS work packages C Learning curve D Template method E All of these are bottom up approaches project is implemented is known as method cid 10 A Function point B Template C Learning curve D Phase estimating E Apportion cid 10 cid 10 the uncertainty is very large cid 10 A Function point B Template C Learning curve D Phase estimating E Apportion A Minus 50 to plus 50 B Minus 0 to plus 75 C Minus 20 to plus 60 D Minus 35 to plus 35 E Minus 10 to plus 30 20 The accuracy of top down estimates will typically be in the range of cid 10 cid 10 19 Which of the following would be the best method for projects where the final product is not known and 21 The accuracy of bottom up estimates will typically be in the range of cid 10 cid 10 22 The cost to prepare bottom up estimates will typically run how much more than the costs to prepare the A Minus 50 to plus 50 B Minus 0 to plus 75 C Minus 20 to plus 60 D Minus 35 to plus 35 E Minus 10 to plus 30 cid 10 top down estimates cid 10 A About the same B About twice as much C About three times as much D About four times as much E About five times as much 23 Typical kinds of costs found in a project include cid 10 cid 10 A Direct costs B Project overhead costs C General and administrative costs D Only A and B are included E A B and C are all included 24 Project costs are typically viewed from all of the following except cid 10 cid 10 A Scheduled B Sunk C Actual D Committed E All of these are correct 25 Which of the following would be considered a direct project cost cid 10 cid 10 A Labor B Materials C Equipment D Both A and B are direct costs E A B and C are all considered direct costs 26 Which of the following is not one of the recommended guidelines for developing useful work package 27 Companies like Boeing Kodak and IBM are using which of the following for improving the estimating cid 10 estimates cid 10 A Estimates should be made by those responsible for the work B Use several people to estimate the same work C Estimates should be based on normal conditions D Estimates should include a normal level of contingency E …