Question 1

Analogous estimating is the most detailed,time consuming and accurate way to estimate.

Accepted Answer

A) True 
 B)False

Question 2

Describe several sources of uncertainty in estimating the cost of a project as well as strategies you can employ to address uncertainty.

Accepted Answer

Key concepts to be covered in the respon

Question 3

Inflating the value of future revenue and cost streams to account for the time value of money enables better project decisions.

Accepted Answer

A) True 
 B)False

Question 4

Most projects will employ bottom-up estimating at some point to serve as a basis for estimating cash flow needs and for controlling the project.

Accepted Answer

A) True 
 B)False

Question 5

All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT:​

Accepted Answer

A)  An organization must know details behind the time value of money. 
B)  An organization must know how and to what extent the proposed project differs from the previous project. 
C)  An organization must have experience in performing similar projects. 
D)  An organization must know how much previous projects actually cost. 
A)  An organization must know details behind the time value of money. 
B)  An organization must know how and to what extent the proposed project differs from the previous project. 
C)  An organization must have experience in performing similar projects. 
D)  An organization must know how much previous projects actually cost.

Question 6

There are many causes of variation in project costs.Which of the following accurately describes the nature of this variation?​

Accepted Answer

A)  Variation is generally greater on projects that use well-known technology and an experienced project team. 
B)  Variation occurs in all work processes and the novelty associated with most projects creates many opportunities for variation. 
C)  Special cause variation comes from many small causes that are inherent in a work process. 
D)  Normal cause variation is when something out of the ordinary occurs 
A)  Variation is generally greater on projects that use well-known technology and an experienced project team. 
B)  Variation occurs in all work processes and the novelty associated with most projects creates many opportunities for variation. 
C)  Special cause variation comes from many small causes that are inherent in a work process. 
D)  Normal cause variation is when something out of the ordinary occurs

Analogous estimating is the most detailed,time consuming and accurate way to estimate.

Describe several sources of uncertainty in estimating the cost of a project as well as strategies you can employ to address uncertainty.

Inflating the value of future revenue and cost streams to account for the time value of money enables better project decisions.

Most projects will employ bottom-up estimating at some point to serve as a basis for estimating cash flow needs and for controlling the project.

All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT:

There are many causes of variation in project costs.Which of the following accurately describes the nature of this variation?

Introduction to Project Management

Project Selection and Prioritization

Chartering Projects

Organizational Capability: Structure, Culture and Roles

Leading and Managing Project Teams

Stakeholder Analysis and Communication Planning

Scope Planning

Scheduling Projects

Resourcing Projects

Project Risk Planning

Project Quality Planning and Project Kick-Off

Project Supply Chain Management

Determining Project Progress and Results

Finishing the Project and Realizing the Benefits

Filters

Exam 10: Budgeting Projects

Analogous estimating is the most detailed,time consuming and accurate way to estimate.

Describe several sources of uncertainty in estimating the cost of a project as well as strategies you can employ to address uncertainty.

Inflating the value of future revenue and cost streams to account for the time value of money enables better project decisions.

Most projects will employ bottom-up estimating at some point to serve as a basis for estimating cash flow needs and for controlling the project.

All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT:​

There are many causes of variation in project costs.Which of the following accurately describes the nature of this variation?​

Introduction to Project Management

Project Selection and Prioritization

Chartering Projects

Organizational Capability: Structure, Culture and Roles

Leading and Managing Project Teams

Stakeholder Analysis and Communication Planning

Scope Planning

Scheduling Projects

Resourcing Projects

Project Risk Planning

Project Quality Planning and Project Kick-Off

Project Supply Chain Management

Determining Project Progress and Results

Finishing the Project and Realizing the Benefits

Filters

All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT:

There are many causes of variation in project costs.Which of the following accurately describes the nature of this variation?