test 222

7. ____ helps you develop an accurate projection of a project's financial costs and benefits. a. Profit cycle costing b. Financial costing c. Life cycle costing d. Profit margin costing

C

30. The ____ is that portion of the approved total cost estimate planned to be spent on an activity during a given period. a. AC c. RP b. EV d. PV

D

12. Project managers should focus on ____, since they can control them. a. sunk costs b. indirect costs c. direct costs d. intangible costs

C

14. ____ should be forgotten. a. Sunk costs b. Indirect costs c. Direct costs d. Intangible costs

A

15. ____ allow for future situations that may be partially planned for. a. Contingency reserves b. Management reserves c. Unknown unknowns d. Direct reserves

A

19. A ____ is used to allocate money into an organization's budget. a. budgetary estimate b. definitive estimate c. rough order of magnitude estimate d. final estimate

A

26. The main goal of the ____ process is to produce a cost baseline for measuring project performance and project funding requirements. a. cost budgeting c. cost control b. cost consolidation d. cost estimating

A

28. The project management plan, project funding requirements, work performance data, and organizational process assets are inputs for the process of ____. a. controlling costs c. consolidating costs b. budgeting costs d. estimating costs

A

6. Creating the WBS is a subprocess associated with the _____ process in project scope management. a. planning b. monitoring and controlling c. closing d. executing

ANS: A Creating the WBS is a subprocess associated with the planning process of the project scope management.

39. Which of the following is an output of schedule control? a. Lessons-learned reports b. Activity attributes c. Resource requirements d. Milestones list

ANS: A The main outputs of schedule control include work performance measurements, organizational process assets updates such as lessons-learned reports related to schedule control, change requests, project management plan updates, and project documents updates.

17. In an AOA network diagram, _____ occur when two or more activities follow a single node. a. combinations b. buffers c. mergers d. bursts

ANS: D When creating an AOA network diagram, bursts occur when two or more activities follow a single node.

16. ____ allow for future situations that are unpredictable. a. Contingency reserves b. Management reserves c. Known unknowns d. Indirect reserves

B

32. The ____ is an estimate of the value of the physical work actually completed. a. AC c. RP b. EV d. PV

B

1. The Standish Group's CHAOS studies reported an average cost overrun for unsuccessful IT projects ranged from 180 percent in 1994 to ____ percent in 2004. a. 28 b. 43 c. 56 d. 73

C

11. ____ are those costs that an organization can easily measure in dollars. a. Intangible costs b. Direct costs c. Tangible costs d. Indirect costs

C

Chapter 7: Project Cost Management

Chap 7

Chapter 5: Project Scope Management

Chapter 5

Chapter 6: Project Time Management

Chapter 6

21. _____ involves formal acceptance of the completed project scope by the stakeholders. a. Scope validation c. Scope control b. Scope planning d. Scope baseline

ANS: A Scope validation involves formal acceptance of the completed project deliverables. This acceptance is often achieved by a customer inspection and then sign-off on key deliverables.

18. The _____ technique for creating a WBS uses branches radiating from a core idea to structure thoughts and ideas instead of writing down tasks in a list or immediately trying to create a structure for tasks. a. analogy b. bottom-up c. top-down d. mind mapping

ANS: D Mind mapping is a technique that uses branches radiating from a core idea to structure thoughts and ideas.Instead of writing down tasks in a list or immediately trying to create a structure for tasks, mind mapping allows people to write and even draw pictures of ideas in a nonlinear format.

37. A difference between the Program Evaluation and Review Technique (PERT) and critical path method (CPM) is that: a. CPM addresses the risk associated with duration estimates whereas PERT does not. b. unlike CPM, PERT estimates only when there is no risk of uncertainty. c. CPM involves more work than PERT because it requires several duration estimates. d. PERT uses different duration estimates whereas CPM uses one specific duration estimate.

ANS: D PERT uses probabilistic time estimates duration estimates based on using optimistic, most likely, and pessimistic estimates of activity durations instead of one specific or discrete duration estimate, as CPM does.

2. Scope refers to: a. each level of work that is outlined in a work breakdown structure. b. the end product created as part of a project that is delivered to the client. c. tasks that are decomposed into smaller tasks in a work breakdown structure. d. the work involved in creating the products and the processes used to create them.

ANS: D Scope refers to all the work involved in creating the products of the project and the processes used to create them.

5. ____ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance. a. Determining the budget b. Consolidation of costs c. Controlling costs d. Estimating costs

A

11. A(n) _____ on a project is a significant event that normally has no duration. a. milestone b. activity attribute c. activity sequence d. schedule baseline

ANS: A A milestone on a project is a significant event that normally has no duration. It often takes several activities and a lot of work to complete a milestone, but the milestone itself is like a marker to help in identifying necessary activities.

9. A(n) _____ is a table that lists requirements, their various attributes, and the status of the requirements to ensure that all are addressed. a. requirements traceability matrix b. Gantt chart c. state transition table d. entity-attribute-value model

ANS: A A requirements traceability matrix (RTM) is a table that lists requirements, their various attributes, and the status of the requirements to ensure that all are addressed

16. Which of the following dependencies involve relationships between project and non-project activities? a. Mandatory b. Discretionary c. External d. Inherent

ANS: C External dependencies involve relationships between project and non-project activities.

6. ____ is the ratio of revenues to profits. a. Profit b. Profit margin c. Cost structure d. Cost margin

B

7. In project time management, the process of_____ primarily involves checking and managing changes to the project schedule. a. estimating activity durations b. developing the schedule c. controlling the schedule d. estimating activity resources

ANS:C In project time management, the process of controlling the schedule involves controlling and managing changes to the project schedule. Outputs include work performance information, schedule forecasts, and change requests among others.

20. A ____ is used for making many purchasing decisions for which accurate estimates are required and for estimating final project costs. a. budgetary estimate b. definitive estimate c. rough order of magnitude estimate d. final estimate

B

23. A(n) ____ might provide an estimate of $50 per line of code for a software development project based on the programming language the project is using, the level of expertise of the programmers, the size and complexity of the data involved, and so on. a. analogous cost estimate b. parametric model c. bottom-up estimate d. reserve analysis

B

24. Tom DeMarco, a well-known author on software development, suggests ____ reasons for the inaccuracies of many information technology project cost estimates and some ways to overcome them. a. three c. five b. four d. six

B

25. If the cost estimate will be the basis for contract awards and performance reporting, it should be a ____ and as accurate as possible. a. budgetary estimate c. rough order of magnitude estimate b. definitive estimate d. final estimate

B

29. ____ is a project performance measurement technique that integrates scope, time, and cost data. a. Cost baseline c. Constructive cost modeling b. Earned value management d. Parametric modeling

B

8. ____, with assistance from financial experts in their organizations, should create estimates of the costs and benefits of the project for its entire life cycle. a. Financial managers b. Project managers c. Budget managers d. System managers

B

17. A ____ provides an estimate of what a project will cost. a. budgetary estimate b. definitive estimate c. rough order of magnitude estimate d. final estimate

C

18. A ____ is done very early in a project or even before a project is officially started. a. budgetary estimate b. definitive estimate c. rough order of magnitude estimate d. final estimate

C

2. Three separate surveys of software project cost overruns found that the average cost overrun for all of the projects in their survey samples (not just unsuccessful projects) were ____ percent. a. 13-14 b. 23-24 c. 33-34 d. 43-44

C

22. ____ involve estimating individual work items or activities and summing them to get a project total. a. Actual estimates b. Parametric estimates c. Bottom-up estimates d. Analogous estimates

C

27. A ____ is a time-phased budget that project managers use to measure and monitor cost performance. a. budget baseline c. cost baseline b. ledger d. cost line

C

4. ____ involves developing an approximation or estimate of the costs of the resources needed to complete a project. a. Determining the budget b. Consolidation of costs c. Controlling costs d. Estimating costs

D

9. Since organizations depend on reliable information technology, there are also huge costs associated with ____. a. work time b. technical planning c. uptime d. downtime

D

20. Which of the following is a relationship in which the from activity cannot start until the to activity is started? a. Start-to-start b. Finish-to-finish c. Finish-to-start d. Start-to-finish

ANS: A A start-to-start dependency is a relationship in which the from activity cannot start until the to activity or successor is started.

3. _____ involves defining and documenting the features and functions of the products produced during the project as well as the processes used for creating them. a. Collecting requirements b. Defining scope c. Controlling scope d. Validating scope

ANS: A Collecting requirements involves defining and documenting the features and functions of the products for the project as well as the processes used for creating them. The project team creates requirements documentation and a requirements traceability matrix as outputs of the requirements collection process.

26. _____ provide(s) a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format. a. Gantt charts b. Critical path analysis c. Arrow diagramming method d. PERT analysis

ANS: A Gantt charts provide a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in calendar form. They are sometimes referred to as bar charts because the activities start and end dates are shown as horizontal bars.

3. In project time management, which of the following processes generate the main outputs of an activity list, activity attributes, and a milestone list? a. Sequencing activities b. Defining activities c. Resource estimating activities d. Estimating activity durations

ANS: A In project time management, the main outputs of the sequencing activities process are an activity list, activity attributes, a milestone list, and project management plan updates.

2. Which of the following processes in project time management involves identifying the specific tasks that the project team members and stakeholders must perform to produce the project deliverables? a. Defining activities b. Sequencing activities c. Developing the schedule d. Estimating activity durations

ANS: A In project time management, the process of defining activities involves identifying the specificactivities that the project team members and stakeholders must perform to produce the project deliverables.

14. Which of the following types of dependencies are inherent in the nature of work being performed on a project? a. Mandatory b. Discretionary c. External d. Random

ANS: A Mandatory dependencies are inherent in the nature of work being performed on a project. They are sometimes referred to as hard logic.

23. _____ refers to the process of developing a working replica of the system or some aspect of the system. a. Prototyping b. Variance c. Decomposition d. Use case modeling

ANS: A Prototyping involves developing a working replica of the system or some aspect of the system.

36. _____ states that work expands to fill the time allowed. a. Murphy's Law b. Miller's Law c. Parkinson's Law d. Einstein's Law

ANS: C Parkinson's Law states that work expands to fill the time allowed.

20. Scope creep refers to: a. the tendency for project scope to keep getting bigger and bigger. b. subdividing project deliverables into smaller pieces. c. the approved project scope statement and its associated WBS. d. a task at the lowest level of the WBS.

ANS: A Scope creep refers to the tendency for project scope to keep getting bigger and bigger.

12. In project time management, the main goal of _____ is to ensure that the project team has complete understanding of all the work they must do as part of the project scope so they can start scheduling the work. a. defining activities b. estimating activity durations c. estimating activity resources d. controlling the schedule

ANS: A The goal of defining activities is to ensure that the project team completely understands all the work it must do as part of the project scope so the team can start scheduling the work. Activity information is a required input to the other time management processes.

23. Which of the following is one of the main outputs of estimating activity resources process? a. Project documents update b. Milestone list c. Work breakdown structure d. Activity duration estimate

ANS: A The main outputs of the resource estimating process include a list of activity resource requirements, a resource breakdown structure, and project documents updates.

18. A network diagramming technique in which boxes represent activities is known as a(n) _____. a. PDM b. CPM c. ADM d. PERT

ANS: A The precedence diagramming method (PDM) is a network diagramming technique in which boxes represent activities. It is particularly useful for visualizing certain types of time relationships.

30. _____ is the amount of time an activity can be delayed from its early start without delaying the planned project finish date. a. Total slack b. Free float c. Backward pass d. Forward pass

ANS: A Total slack or total float is the amount of time an activity can be delayed from its early start without delaying the planned project finish date.

28. The critical path is the _____ path through a network diagram, and it represents the _____ amount of slack or float. a. longest; longest b. longest; shortest c. shortest; longest d. shortest; shortest

ANS: B A critical path for a project is the series of activities that determine the earliest time by which the project can be completed. It is the longest path through the network diagram and has the least amount of slack or float

19. AOA network diagrams use only _____ dependencies. a. start-to-start b. finish-to-start c. finish-to-finish d. start-to-finish

ANS: B A finish-to-start dependency is the most common type of relationship or dependency and AOA network diagrams use only finish-to-start dependencies. It is a relationship in which the from activity or predecessor must finish before the to activity or successor can start

13. In project time management, the next step after defining project activities is: a. planning schedule management. b. determining their dependencies. c. controlling the schedule. d. estimating activity duration.

ANS: B After defining project activities, the next step in project time management is sequencing them or determining their dependencies. The sequencing process involves evaluating the reasons for dependencies and the different types of dependencies.

8. Generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization is known as _____. a. variance b. benchmarking c. prototyping d. decomposition

ANS: B Benchmarking, or generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization, can be used to collect requirements.

8. In project time management, a(n) _____ is an output of controlling the schedule a. activity duration estimate b. project management plan update c. activity attribute d. milestones list

ANS: B Controlling the schedule involves controlling and managing changes to the project schedule. Outputs include work performance information, schedule forecasts, change requests, project management plan updates, project documents updates, and organizational process assets updates.

32. The technique for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost is known as _____. a. dependency b. crashing c. critical chain scheduling d. feeding buffers

ANS: B Crashing is a technique for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost. The main advantage of crashing is shortening the time needed to finish a project.

35. Critical chain scheduling protects tasks on the critical chain from being delayed by using _____, which consist of additional time added before tasks on the critical chain that are preceded by non-critical-path tasks. a. critical paths b. feeding buffers c. dummy activities d. fast tracking

ANS: B Critical chain scheduling protects tasks on the critical chain from being delayed by using feeding buffers, which consist of time added before tasks on the critical chain if they are preceded by other tasks that are not on the critical path.

27. Which of the following is a network diagramming technique used primarily to predict total project duration? a. Gantt chart b. Critical path analysis c. Resource breakdown structure d. Arrow diagramming method

ANS: B Critical path method (CPM) also called critical path analysis is a network diagramming technique used to predict total project duration. This important tool helps combat project schedule overruns.

4. _____ involves reviewing the project charter, requirements documents, and organizational process assets to create a scope statement, adding more information as requirements are developed and change requests are approved. a. Creating scope b. Defining scope c. Controlling scope d. Validating scope

ANS: B Defining scope involves reviewing the scope management plan, project charter, requirements documents, and organizational process assets to create a scope statement, adding more information as requirements are developed and change requests are approved.

1. The first process involved in project time management is _____ . a. defining activities c. planning schedule management b. estimating activity durations d. sequencing activities

ANS: C Schedule management is the first process in project time management and involves determining the policies, procedures, and documentation that will be used for planning, executing, and controlling the project schedule.

6. In project time management, which of the following processes involve analyzing activity sequences, activity resource estimates, and activity duration estimates to create the project schedule? a. Planning schedule management b. Developing the schedule c. Controlling the schedule d. Defining activities

ANS: B Developing the schedule involves analyzing activity sequences, activity resource estimates, and activity duration estimates to create the project schedule. Outputs include a schedule baseline, project schedule, schedule data, project calendars, project management plan updates, and project documents updates.

15. _____ dependencies are sometimes referred to as soft logic and should be used with care because they may limit later scheduling options. a. Mandatory b. Discretionary c. External d. Inherent

ANS: B Discretionary dependencies are defined by the project team. They are sometimes referred to as soft logic and should be used with care because they may limit later scheduling options.

22. Which of the following is true of dummy activities? a. They have long durations. b. They show logical relationships between activities. c. They have a large range of resources. d. They have limited time periods.

ANS: B Dummy activities have no duration and no resources, but are occasionally needed on AOA network diagrams to show logical relationships between activities.

17. In the _____ approach, team members first identify as many specific tasks related to the project as possible and then aggregate the specific tasks and organize them into summary activities, or higher levels in the WBS. a. analogy b. bottom-up c. top-down d. mind mapping

ANS: B In the bottom-up approach, team members first identify as many specific tasks related to the project as possible. They then aggregate the specific tasks and organize them into summary activities, or higher levels in the WBS. Project managers often use the bottom-up approach for projects that represent entirely new systems or approaches to doing a job, or to help create buy-in and synergy with a project team.

25. _____ uses highly organized and intensive workshops to bring together project stakeholders—the sponsor, users, business analysts, programmers, and so on—to jointly define and design information systems. a. Prototyping b. JAD c. RAD d. Use case modeling

ANS: B Joint Application Design (JAD) uses highly organized and intensive workshops to bring together project stakeholders — the sponsor, users, business analysts, programmers, and so on —to jointly define and design information systems.

40. A draft schedule for a project is most likely to be found in a _____. a. project buffer b. project charter c. resource breakdown structure d. projects dummy activities list

ANS: B One of the first reality checks for a project manager is to review the draft schedule that is usually included in the project charter. Although this draft schedule might include only a project start and end date, the project charter sets some initial schedule expectations for the project.

4. In project time management, which of the following processes primarily involve identifying and documenting the relationships between project activities? a. Defining activities b. Sequencing activities c. Planning schedule management d. Estimating activity durations

ANS: B Sequencing activities involves identifying and documenting the relationships between project activities. The main outputs of this process include project schedule network diagrams and project documents updates.

19. Which of the following is recommended for the creation of a good WBS? a. Any WBS item should be the responsibility of all the people working on it. b. A unit of work should appear at only one place in the WBS. c. Each WBS item should be created assuming that the requirements are inflexible. d. The work content of a WBS item is independent of the WBS items below it.

ANS: B Some basic principles apply to creating any good WBS and its WBS dictionary. Firstly, a unit of work should appear at only one place in the WBS. The work content of a WBS item is the sum of the WBS items below it.

7. The ______ documents how project needs will be analyzed, documented, and managed. a. requirements traceability matrix b. requirements management plan c. WBS d. project scope statement

ANS: B The requirements management plan documents how project requirements will be analyzed, documented, and managed.

13. The _____ should list and describe all of the deliverables required for the project. a. project charter b. scope statement c. WBS d. Gantt chart

ANS: B The scope statement should list and describe all of the deliverables required for the project. It is very important to ensure consistency between the project charter, scope statement, WBS, and Gantt chart to define the scope of the project accurately.

22. _____ refers to the difference between planned and actual performance. a. Decomposition b. Variance c. Scope validation d. Scope creep

ANS: B Variance is the difference between planned and actual performance

21. Which of the following is true of a finsih-to-finish dependency? a. It is a dependency in which the from activity cannot start until the to activity or successor is started. b. It is a dependency in which in which the from activity must finish before the to activity or successor can start. c. It is a dependency in which the from activity must be finished before the to activity can be finished. d. It is a dependency in which the from activity must start before the to activity can be finished.

ANS: C A finish-to-finish dependency is a relationship in which the from activity must be finished before the to activity can be finished. One task cannot finish before another finishes.

33. Which of the following techniques involve doing activities in parallel that one would normally do in sequence? a. Critical chain scheduling b. Crashing c. Fast tracking d. PERT analysis

ANS: C Fast tracking involves doing activities in parallel that one would normally do in sequence. The main advantage of fast tracking is that it can shorten the time needed to finish a project.

38. Which of the following is a silimarity between scope control and schedule control? a. Both are initial processes of project time management. b. Both of their primary goals is to define project goals and miestones. c. Both are portions of the integrated change control process under project integration management. d. Both of these processes should occur before estimating activity durations.

ANS: C Like scope control, schedule control is a portion of the integrated change control process under project integration management. Controlling the schedule is the final process in project time management.

31. The _____ for an activity is the latest possible time an activity might begin without delaying the project finish date. a. early finish date b. late finish date c. late start date d. early start date

ANS: C The late start date is the latest possible time an activity might begin without delaying the project finish date

34. A similarity between the crashing technique and the fast tracking technique is that: a. both spread out tasks over a long period of time to ensure the quality of work is maintained. b. both invariably result in increases in total project costs. c. both can shorten the time needed to finish a project. d. both are network diagramming techniques used primarily to predict total project duration.

ANS: C The main advantage of fast tracking, like crashing, is that it can shorten the time needed to finish a project.

11. The main technique used in creating a WBS is _____, which involves subdividing project deliverables into smaller pieces. a. conglomeration b. accumulation c. decomposition d. catalyzation

ANS: C The main tool or technique involved in creating a WBS is decomposition—that is, subdividing project deliverables into smaller pieces.

25. In project time management, the ultimate goal of _____ is to provide a basis for monitoring project progress for the time dimension of the project. a. defining activities b. sequencing activities c. developing a schedule d. estimating activity resources

ANS: C The ultimate goal of developing a realistic project schedule is to provide a basis for monitoring project progress for the time dimension of the project. Project time management processes often go through several iterations before a project schedule is finalized.

1. The term ______ describes a product produced as part of a project. a. variance b. scope c. deliverable d. work package

ANS: C Thee term deliverable describes a product created as part of a project. Deliverables can be product related, such as a piece of hardware or software, or process-related, such as a planning document or meeting minutes.

15. The _____ approach for constructing a WBS involves refining the work into greater and greater levels of detail. a. analogy b. bottom-up c. top-down d. mind mapping

ANS: C To use the top-down approach, start with the largest items of the project and break them into subordinate items. This process involves refining the work into greater and greater levels of detail.

16. The _____ approach for constructing a WBS starts with the largest items of the project and breaks them into subordinate items. a. analogy b. bottom-up c. top-down d. mind mapping

ANS: C To use the top-down approach, start with the largest items of the project and break them into subordinate items.The top-down approach is best suited to project managers who have vast technical insight and a big-picture perspective.

14. In the _____approach for constructing a WBS, you use a similar project's WBS as a starting point. a. top-down b. bottom-up c. mind-mapping d. analogy

ANS: D A method for constructing a WBS is the analogy approach. In the analogy approach, you use a similar project's WBS as a starting point.

29. The amount of time an activity can be delayed without delaying the early start date of any immediately following activities is known as a _____. a. forward pass b. backward pass c. fast tracking d. free slack

ANS: D A technique that can help project managers make schedule trade-offs is determining the free slack and total slack for each project activity. Free slack or free float is the amount of time an activity can be delayed without delaying the early start date of any immediately following activities.

12. A(n) ____ is a task at the lowest level of the WBS. a. variance b. objective c. deliverable d. work package

ANS: D A work package is a task at the lowest level of the WBS.

10. A(n) _____ is a deliverable-oriented grouping of the work involved in a project that defines the total scope of the project. a. project charter b. business case c. project scope statement d. work breakdown structure

ANS: D After collecting requirements and defining scope, the next step in project scope management is to create a work breakdown structure. A work breakdown structure (WBS) is a deliverable oriented grouping of the work involved in a project that defines its total scope.

24. After working with key stakeholders to define activities and calculate their resources, the next process in project time management is to: a. develop the schedule. b. control the schedule. c. determine their dependencies. d. estimate the duration of activities.

ANS: D After working with key stakeholders to define activities, determine their dependencies, and estimate their resources, the next process in project time management is to estimate the duration of activities.

5. In project time management, which of the following processes involve calculating the number of work periods that are needed to complete individual activities? a. Defining activities b. Sequencing activities c. Planning schedule management d. Estimating activity durations

ANS: D Estimating activity durations involves estimating the number of work periods that are needed to complete individual activities. Outputs include activity duration estimates and project documents updates.

10. Which of the following is a difference between an activity list and an activity attribute? a. As opposed to an activity attribute, an activity list provides resource requirements and constraints related to activities. b. An activity list provides a more concrete list of milestones for a project than an activity attribute. c. An activity attribute is a tabulation of activities to be included on a project schedule whereas an activity list is not. d. An activity attribute provides more schedule-related information about each activity than an activity list.

ANS: D The activity list is a tabulation of activities to be included on a project schedule. The list should include the activity name, an activity identifier or number, and a brief description of the activity. The activity attributes provide more schedule-related information about each activity, such as predecessors, successors, logical relationships, leads and lags, and so forth.

9. Which of the following documents is most likely to include planned project start and end dates which serve as the starting points for a detailed schedule? a. Resource breakdown structure b. Milestones list c. Organizational process assets update d. Project charter

ANS: D The project charter often mentions planned project start and end dates, which serve as the starting points for a more detailed schedule.

24. _____ is a process for identifying and modeling business events, who initiated them, and how the system should respond to them. a. Prototyping b. JAD c. RAD d. Use case modeling

ANS: D Use case modeling is a process for identifying and modeling business events, who initiated them, and how the system should respond to them. It is an effective tool for understanding requirements of information systems.

5. _____ involves formalizing acceptance of the project deliverables and during this phase the key project stakeholders, such as the customer and sponsor for the project, inspect and then formally accept the deliverables. a. Creating scope b. Defining scope c. Controlling scope d. Validating scope

ANS: D Validating scope involves formalizing acceptance of the project deliverables. Key project stakeholders, such as the customer and sponsor for the project, inspect and then formally accept the deliverables during this process.

31. The ____ is the ratio of actual work completed to the percentage of work planned to have been completed at any given time during the life of the project or activity. a. AC c. RP b. EV d. PV

C

10. ____ is a method for determining the estimated annual costs and benefits for a project and the resulting annual cash flow. a. Life cycle costing b. Profit margin analysis c. Cost estimating d. Cash flow analysis

D

13. ____ are costs that are not directly related to the products or services of the project, but are indirectly related to performing the project. a. Intangible costs b. Tangible costs c. Direct costs d. Indirect costs

D

21. ____ use the actual cost of a previous, similar project as the basis for estimating the cost of the current project. a. Actual estimates b. Parametric estimates c. Bottom-up estimates d. Analogous estimates

D

3. ____ includes the processes required to ensure that a project team completes a project within an approved budget. a. Cost budgeting b. Cost estimating c. Cost control d. Project cost management

D