Question 1

Expected value is a tool for risk analysis.

Accepted Answer

A) True 
 B)False

Question 2

Organizations can use both top-down and bottom-up budgeting.

Accepted Answer

A) True 
 B)False

Question 3

There is no way other than guessing to estimate the impact of learning on a project's task.

Accepted Answer

A) True 
 B)False

Question 4

There is a 30 percent chance that a new product development project will result in sales of $500,000 and a 70 percent chance that the project will result in sales of $100,000.What is the expected value of this project?

Accepted Answer

A)  $220,000 
B)  $240,000 
C)  $300,000 
D)  $320,000 
E)  $340,000 
A)  $220,000 
B)  $240,000 
C)  $300,000 
D)  $320,000 
E)  $340,000

Question 5

Because project budgeting is for a special case and the organization's budgeting process is for routine work,the project manager need NOT be familiar with the organization's accounting system.

Accepted Answer

A) True 
 B)False

Question 6

The first unit requires 10 hours to complete.If the industry uses an 80 percent learning rate,how long should the third unit take?

Accepted Answer

A)  10 hours 
B)  9 hours 
C)  8 hours 
D)  7.02 hours 
E)  6.40 hours 
A)  10 hours 
B)  9 hours 
C)  8 hours 
D)  7.02 hours 
E)  6.40 hours

Expected value is a tool for risk analysis.

Organizations can use both top-down and bottom-up budgeting.

There is no way other than guessing to estimate the impact of learning on a project's task.

There is a 30 percent chance that a new product development project will result in sales of $500,000 and a 70 percent chance that the project will result in sales of $100,000.What is the expected value of this project?

Because project budgeting is for a special case and the organization's budgeting process is for routine work,the project manager need NOT be familiar with the organization's accounting system.

The first unit requires 10 hours to complete.If the industry uses an 80 percent learning rate,how long should the third unit take?

The World of Project Management

The Manager, the Organization, and the Team

Planning the Project

Scheduling the Project

Allocating Resources to the Project

Monitoring and Controlling the Project

Evaluating and Terminating the Project

Filters

Exam 4: Budgeting the Project

Expected value is a tool for risk analysis.

Organizations can use both top-down and bottom-up budgeting.

There is no way other than guessing to estimate the impact of learning on a project's task.

There is a 30 percent chance that a new product development project will result in sales of $500,000 and a 70 percent chance that the project will result in sales of $100,000.What is the expected value of this project?

Because project budgeting is for a special case and the organization's budgeting process is for routine work,the project manager need NOT be familiar with the organization's accounting system.

The first unit requires 10 hours to complete.If the industry uses an 80 percent learning rate,how long should the third unit take?

The World of Project Management

The Manager, the Organization, and the Team

Planning the Project

Scheduling the Project

Allocating Resources to the Project

Monitoring and Controlling the Project

Evaluating and Terminating the Project

Filters