Ch.5

Which of the following is a good condition for bottom-up estimating? a. When the project involves strategic decision making b. When the project is internal and small c. When there is a fixed price contract d. When there is high uncertainty involved in the project e. When there is an unstable scope

When there is a fixed price contract

When work package estimates are made by individuals most knowledgeable about the work being performed and these estimates are then "rolled up" to find estimated costs for major deliverables and the project itself, ____________ estimating is being used. a. top-down b. analogous c. bottom-up d. reference class e. professional estimation

bottom-up

What is the relationship between organizational culture and estimating? a. There is no relationship. b. Cultural norms affect the accuracy of estimates. c. Culture determines whether estimates are made. d. Estimating alters cultural norms. e. Estimating and culture are independent.

Cultural norms affect the accuracy of estimates.

Which of the following would best represent direct project costs? a. Only labor b. Only materials c. Only equipment d. Both labor and materials e. Labor, materials and equipment

Labor, materials and equipment

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 the ____________ method. a. ratio b. consensus c. apportion d. function point e. learning curves

function point

Learning curves are more likely to be applied in situations where most of the costs are a. materials. b. labor. c. overhead. d. evenly spread over materials, labor, and overhead. e. labor and materials.

labor.

Large projects that have long time horizons and a very high complexity can be referred to as a. mega projects. b. high risk. c. white elephants. d. mega projects or white elephants.

mega projects or white elephants.

Estimates should be made based on ___________ conditions, efficient methods, and a normal level of resources. a. abnormal b. above normal c. standard d. normal e. average

normal

The estimating factor that considers the tendency to overestimate project time and cost in order to improve the likelihood of meeting the estimates is known as the ___________ factor. a. project complexity b. planning horizon c. people d. organizational culture e. padding estimates

padding estimates

The estimating factor that considers the decreasing accuracy of estimates as one forecasts activities that are further into the future is known as ____________. a. project complexity b. planning horizon c. people d. organizational culture e. padding estimates

planning horizon

The bottom-up method of estimating where work package time and costs for past projects are used as a starting point for a new project and adjustments are made based on differences in the new project is known as the ___________. a. range estimating b. parametric procedure c. template method d. phase estimating method e. WBS method

template method

The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as a. detailed WBS work package estimates. b. template method. c. function point method. d. time-phased cost estimates. e. phase estimating.

template method.

Refining estimates may be necessary for a number of reasons. For example, design flaws being revealed after the fact, extreme weather conditions, and accidents occurring are good examples of a. hidden interaction costs. b. things going wrong on a project. c. changes in project scope. d. normal conditions not applying. e. uncertain, unstable requirements.

things going wrong on a project.

A way to improve estimates on future projects is to collect and archive data on past project estimates and actuals. Creating ___________ for estimating is a way to achieve this goal. a. time and cost databases b. history databases c. estimating and forecasting databases d. structured databases e. Any of these alternatives are correct.

time and cost databases

Reasons why estimating time and cost are important include all of the following EXCEPT a. to schedule work. b. to determine how long the project should take and cost. c. to develop cash flow needs. d. to determine how well the project is progressing. e. to help establish a project selection process.

to help establish a project selection process.

The preferred method for situations involving strategic decision making, projects with a high degree of uncertainty, and projects with an unstable scope is the ___________ approach to estimating project time and costs. a. top-down b. experiential c. bottom-up d. reference class e. professional estimation

top-down

When someone uses experience and/or information from others to determine the project duration and total cost, ____________ estimating is being used. a. top-down b. experiential c. bottom-up d. reference class e. professional estimation

top-down

A(n) __________ is something that is a valuable but burdensome possession. a. mega-project b. white elephant c. yacht d. vacation home e. concorde

white elephant

Estimating can be challenged by a. human nature. b. political dynamics. c. difficulty in predicting the future. d. size of the project. e. All of these alternatives are correct.

All of these alternatives are correct.

Typical kinds of costs found in a project include all of the following EXCEPT a. direct costs. b. project overhead costs. c. general and administrative overhead costs. d. labor. e. All of these are examples of costs found in a project.

All of these are examples of costs found in a project.