Question 1

Accrual accounting is more frequently used on projects than cash accounting.

Accepted Answer

A) True 
 B)False

Question 2

Special cause variation arises when something out of the ordinary occurs.

Accepted Answer

A) True 
 B)False

Question 3

Describe the general approach you would employ to develop a time-phased budget for a project.

Accepted Answer

Developing a time-phased budget for a pr

Question 4

The documentation of a project cost estimate generally requires substantial supporting detail to include all of these EXCEPT:

Accepted Answer

A)  a description of scope. 
B)  management reserve needs 
C)  the estimating methods used and a range of possible outcomes. 
D)  assumptions and constraints. 
A)  a description of scope. 
B)  management reserve needs 
C)  the estimating methods used and a range of possible outcomes. 
D)  assumptions and constraints.

Question 5

Figure 9-1 Time-phased budget
-Consider the time-phased budget presented in Figure 9-1. What is the cumulative project budget through the end of April?

Accepted Answer

A)  $ 8.000 
B)  $20,000 
C)  $38,000 
D)  $46,000 
A)  $ 8.000 
B)  $20,000 
C)  $38,000 
D)  $46,000

Question 6

A project manager needs to ensure that the cumulative amount of cash coming into the project either from internal budgeting or from customer payments meets or exceeds the demands for paying cash out.

Accepted Answer

A) True 
 B)False

Question 7

Describe the most common cost elements to be included in a project cost estimate.

Accepted Answer

The most common cost elements to be incl

Accrual accounting is more frequently used on projects than cash accounting.

Special cause variation arises when something out of the ordinary occurs.

Describe the general approach you would employ to develop a time-phased budget for a project.

The documentation of a project cost estimate generally requires substantial supporting detail to include all of these EXCEPT:

Figure 9-1 Time-phased budget -Consider the time-phased budget presented in Figure 9-1. What is the cumulative project budget through the end of April?

A project manager needs to ensure that the cumulative amount of cash coming into the project either from internal budgeting or from customer payments meets or exceeds the demands for paying cash out.

Describe the most common cost elements to be included in a project cost estimate.

Introduction to Project Management

Project Selection and Prioritization

Organizational Capability: Structure,Culture and Roles

Chartering Projects

Stakeholder Analysis and Communication Planning

Defining Scope and Constructing Work Breakdown Structures (WBS)

Scheduling Activities

Resourcing Projects

Project Risk Planning

Project Quality Planning and Project Kick: off

Project Supply Chain Management

Leading and Managing Project Teams

Determining Project Progress and Results

Finishing the Project

Filters

Exam 9: Budgeting Projects

Accrual accounting is more frequently used on projects than cash accounting.

Special cause variation arises when something out of the ordinary occurs.

Describe the general approach you would employ to develop a time-phased budget for a project.

The documentation of a project cost estimate generally requires substantial supporting detail to include all of these EXCEPT:

Figure 9-1 Time-phased budget -Consider the time-phased budget presented in Figure 9-1. What is the cumulative project budget through the end of April?

A project manager needs to ensure that the cumulative amount of cash coming into the project either from internal budgeting or from customer payments meets or exceeds the demands for paying cash out.

Describe the most common cost elements to be included in a project cost estimate.

Introduction to Project Management

Project Selection and Prioritization

Organizational Capability: Structure,Culture and Roles

Chartering Projects

Stakeholder Analysis and Communication Planning

Defining Scope and Constructing Work Breakdown Structures (WBS)

Scheduling Activities

Resourcing Projects

Project Risk Planning

Project Quality Planning and Project Kick: off

Project Supply Chain Management

Leading and Managing Project Teams

Determining Project Progress and Results

Finishing the Project

Filters