Project Management CH 5

All task time estimates need consistent time units. false true

True

Estimates are supposed to be based on normal conditions. While this is a good starting point, it rarely holds true in real life. false true

True

Mega Projects often under deliver on expected benefits and cost more than expected. false true

True

Organization culture can significantly influence project time and cost estimates. false true

True

Past experience is almost always used primarily in the initial phases of estimating. false true

True

The salary of the project manager and temporary rental space for the project team would be classified as __________ costs. interaction direct general and administrative overhead direct project overhead fixed

direct project overhead

Costs that are not directly related to a specific project, such as advertising, accounting, and senior management's salary, are classified as _____________ costs. direct general and administrative overhead direct project overhead fixed coordination

general and administrative overhead

The estimating factor that considers the prevailing belief in some firms that detailed estimating takes too much time and is not worth the effort is an example of the ___________ factor. people organizational culture padding estimates project complexity planning horizon

organizational culture

A good starting point for developing time and cost estimates is work packages. work breakdown structure. task analysis. time and motion studies. past experience.

past experience.

Mega projects are large-scale, complex ventures that typically cost _______ or more and take many ______ to complete. $500,000, months $10 billion, years $10 million, quarters $1 billion, years $1 million, months

$1 billion, years

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

All of these

The process of forecasting or approximating the time and cost of completing project deliverables is called guesstimating. budgeting. planning. estimating. predicting.

Estimating

After averaging out the underestimates and overestimates, a long-duration project is more likely to be on target than a short-term, small project. false true

False

Project estimates should be broken down into as much detail, and with as much accuracy, as possible. false true

False

The process of forecasting or approximating the time and cost of completing project deliverables is called planning. false true

False

The project management structure chosen to manage the project will have little impact on the quality of estimates. false true

False

Which of the following would best represent direct project costs? Both labor and materials Only labor Only equipment Labor, materials and equipment Only materials

Labor, materials and equipment

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 normal conditions not applying. hidden interaction costs. changes in project scope. things going wrong on a project. uncertain, unstable requirements.

things going wrong on a project.

In practice, estimating processes are frequently classified as top down/bottom up. broad/specific. rough/polished. draft/final. precise/order of magnitude.

top down/bottom up.

A project leader is estimating 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? Apportion Learning curve Ratio Function point Template

Learning curve