Project Management Quiz 4 Review

"White elephant" is a term for:

A large-scale, complex project that went over budget, under value, and the cost of maintaining exceeds the benefits received

Which of the following top-down methods is used when projects closely follow past projects in regard to features and costs of those features, and result in costs being assigned by percentages to major segments of the project?

Apportion

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

Direct project overhead

The __________ Olympics organizers were well aware of hidden post-Olympic maintenance costs of facilities that were no longer in demand. They built temporary arenas for less popular sports. They considered scalability such that some venues could be downsized after the Olympic games.

London 2012

refining estimates may be necessary for a number of reasons. for examples, resource shortages, in the form of people equipment, or materials, can extend original estimates. This is a good examples of:

Normal conditions not applying

A good starting point for developing time and cost estimates is:

Past experience

which of the following is not one of the factors that need to be considered to improve quality of estimates for project times and costs?

Profit

Phase estimating is used when a:

Project cannot be rigorously defined because of the uncertainty of design or the final product

which of the following describes the consensus method?

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

Organization culture can significantly influence the:

project time and cost estimates

repetition of a task generally results in a:

reduction of labor hours each successive time a worker performs that task

The ideal approach to estimating project time and costs is to:

use both the top-down and the bottom-up approach

A way to improve estimates on future projects is to:

collect and archive data on past project estimates and actuals. Creating a database for estimating is way to achieve this goal

all task time estimates need to be:

consistent time units

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

estimating

The top-down method for estimating project time and cost that uses weighted variables based on major parameters and is frequently used in the development of software is known as_____

function point method

which of the following is a good condition for bottom-up estimating?

When there is a fixed price contract

Estimates that are based on cost elements found in the:

Work breakdown structure are called top-down estimates