Exam 7: Project Cost Management

A rough order of magnitude estimate can be referred to as a _____ estimate.

Which of the following is true of the schedule performance index (SPI)?

Accountants define _____ as a resource sacrificed or foregone to to achieve a specific objective.

A(n)_____ is the original project plan plus approved changes.

Determining the budget involves allocating the project cost estimate to individual work items over time.

The total direct and indirect costs incurred in accomplishing work on an activity during a given period is known as the _____.

Which of the following is true of analogous estimates?

________ are a means of measuring software size based on what the software does for end users.

The cost performance index can be used to calculate the _____ which gives an approximate cost of completing a project based on performance to date.

The _____ theory states that when many items are produced repetitively, the unit cost of those items decreases in a regular pattern as more units are produced.

It is important for project managers to understand that every cost estimate is unique.

A cost management plan can include organizational procedures links, control thresholds, and process descriptions.

Project costs, like project schedules, grow out of the basic documents that initiate a project, like the _____.

Indirect costs are:

_____ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.

Which of the following reserves allows for future situations that are unpredictable?

Which of the following is true of a rough order of magnitude estimate?

A cost estimation tool which is used to allocate money into an organization's budget is known as a _____ estimate.

In practice, many people find that using a combination or hybrid approach involving analogous, bottom up, and/or parametric modeling provides the best _____.

The formulas for variances and indexes start with EV, the earned value.