Project Management Chapter 5

Refining estimates may be necessary for a number of reasons. For example, a manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project and meet the needs of the customer is an example of:

Changes in project scope

Companies are using which of the following for improving the estimating process for future projects?

Creating historical databases of previous projects

hat is the relationship between organizational culture and estimating?

Cultural norms affect the accuracy of estimates

The salary of the project manager would be an example of what type of cost found in a project?

Direct project overhead

The process of forecasting or approximating the time and cost of completing project deliverables is called

Estimating

Which of the following is a good condition for top-down estimating?

Internal, small project

Which of the following would best represent direct project costs?

Labor, materials and equipment

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. Which of the following methods is she using?

Learning curve

A good starting point for developing time and cost estimates is

Past Experience

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 following factors is illustrated in this situation?

Planning estimates

Rob is responsible for estimating a work package that has a significant amount of uncertainty associated with the time and cost to complete. Due to the uncertainty involved he will be making a low, an average and a high estimate. Rob is using which estimating approach?

Range estimating

Reasons why estimating time and cost are important include all of the following EXCEPT

To help establish a project selection process

Which of the following describes the consensus method?

Uses pooled experience of senior and/or middle managers to estimate the total project duration and cost.

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?

Function point

Which if the following does NOT help describe a bottom-up estimating approach?

They are made by someone who uses experience and/or information from someone else to determine overall project cost and duration.