1.
A project manager and the project team identify several specific risks in a project. The expected value of these risks is estimated at $10,000. The impact on the project brought about by these risks is estimated at $40,000. What value should be entered into the management reserve for these risks?
2.
A project is formed to produce a product that will be used for transporting people. Costs that are associated with the project that occur after the delivery of the product to the customer are considered to be what kind of cost?
3.
Which of the following choices would be an acceptable cause for ‘‘rebaselining’’ a $10 million project?
4.
A project team receives an approved change request from the customer. The team has previously estimated that the cost to implement this change is $10,000. The customer has agreed to pay this amount for the additional work. The customer realizes that there is a 50 percent chance that this change will not work and will later be removed. What change, if any, should be made in the budget?
5.
A project manager and the project team identify several specific risks in a project. The expected value of these risks is estimated at $10,000. The impact on the project brought about by these risks is estimated at $40,000. What value should be entered into the contingency reserve for these risks?
6.
A project manager wants to make a trip to California by car. The project manager knows someone who has made this trip before. This person has a similar car to the one that the project manager has, and the person has kept good records on the money spent for fuel on the trip. The distance that the project manager will travel is 10% further than the other person’s trip. By multiplying the cost of fuel reported by the other person by 1.1, the project manager is performing what kind of estimate?
7.
What characteristic best describes the cost baseline?
8.
A project manager wants to make a trip to California by car. The project manager knows how many miles it will be to drive to California, the current price of gasoline, and how many miles the car will go on a gallon of gasoline. From this information he or she can calculate the estimated cost of the gasoline for the trip. This is a form of what kind of estimating technique?
9.
The act of doing anything that will help to bring future project performance into line with the project plan is called:
10.
To distinguish top down estimates form bottom up estimates, it would be correct to say that the bottom up estimate would be:
