What is the total project budget in this time-phased budget? \[\begin{array} { | l | l | l | l | l |} \hline \text { Activity } & \text { Jaruary } & \text { February } & \text { March } & \text { April } \\ \hline \text { Survey } & 8,000 & & & \\ \hline \text { Design } & 5,250 & 4,500 & & \\ \hline \text { Pirt } & & 6,700 & & \\ \hline \text { Foundation } & & 12,550 & & \\ \hline \text { Frarning } & & & 37,250 & \\ \hline \text { Plurnb } & & & 7,800 & \\ \hline \text { Wire } & & & & 5,500 \\ \hline \end{array}\]

A) $85,450 B) $87,550 C) $82,050 D) $86,550 A) $85,450 B) $87,550 C) $82,050 D) $86,550

What is the total project budget in this time-phased budget? \[\begin{array} { | l | l | l | l | l | l |} \hline \text { Activity } & \text { July } & \text { August } & \text { Septernber } & \text { October } & \text { Novernber } \\ \hline \text { RFP } & 34,721 & & & & \\ \hline \text { Aralysis } & 11,049 & 33,655 & 34,388 & & \\ \hline \text { Pesiggn } & 33,718 & 34,474 & 26,759 & 36,328 & \\ \hline \text { Codirg } & & 7,713 & 34,905 & 40,244 & \\ \hline \text { Testing } & & & & 40,916 & 896 \\ \hline \text { Trairing } & & & & 20,958 & 9,327 \\ \hline \text { Roll-Out } & & & & & 8,186 \\ \hline \end{array}\]

A) $251,382 B) $389,828 C) $408,237 D) $478,300 A) $251,382 B) $389,828 C) $408,237 D) $478,300

What is the total amount budgeted for design costs in this time-phased budget? \[\begin{array} { | l | l | l | l | l |} \hline \text { Activity } & \text { Jaruary } & \text { February } & \text { March } & \text { April } \\ \hline \text { Survey } & 8,000 & & & \\ \hline \text { Design } & 5,250 & 4,500 & & \\ \hline \text { Pirt } & & 6,700 & & \\ \hline \text { Foundation } & & 12,550 & & \\ \hline \text { Frarning } & & & 37,250 & \\ \hline \text { Plurnb } & & & 7,800 & \\ \hline \text { Wire } & & & & 5,500 \\ \hline \end{array}\]

A) $5,250 B) $4,500 C) $9,750 D) $12,550 A) $5,250 B) $4,500 C) $9,750 D) $12,550

What is the cumulative cost in February in this time-phased budget? \[\begin{array} { | l | l | l | l | l |} \hline \text { Activity } & \text { Jaruary } & \text { February } & \text { March } & \text { April } \\ \hline \text { Survey } & 8,000 & & & \\ \hline \text { Design } & 5,250 & 4,500 & & \\ \hline \text { Pirt } & & 6,700 & & \\ \hline \text { Foundation } & & 12,550 & & \\ \hline \text { Frarning } & & & 37,250 & \\ \hline \text { Plurnb } & & & 7,800 & \\ \hline \text { Wire } & & & & 5,500 \\ \hline \end{array}\]

A) $23,750 B) $37,000 C) $45,050 D) $50,550 A) $23,750 B) $37,000 C) $45,050 D) $50,550

Exam 8: Cost Estimation and Budgeting

Whether it is the Boeing V-22 Osprey or a simple storm door installation for a do-it-yourselfer,nothing is ever completed as quickly or as cheaply as initial estimates due to:

(Multiple Choice)

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Question 41

Which of these is typically a nonrecurring cost?

(Multiple Choice)

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Question 42

You are probably looking at a bill for a variable cost when you are paying for:

(Multiple Choice)

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Question 43

Define learning curve theory and describe how learning curves are used in project management.

(Essay)

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Question 44

What is the total project budget in this time-phased budget? Activity Jaruary February March April Survey 8,000 Design 5,250 4,500 Pirt 6,700 Foundation 12,550 Frarning 37,250 Plurnb 7,800 Wire 5,500

(Multiple Choice)

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Question 45

Big Mike has to prepare a bid for the swimming pools to be placed in every backyard in a new housing addition.Each swimming pool represents only a slight variation on the other,so there is a good opportunity to leverage learning effects in the bid process.A swimming pool installation can be broken down into four major steps: excavation,concrete,plumbing,and finish work.Mike has found the best contractors and asks each of them how long it will take to complete work on the first pool and what their learning rates are.Amazingly,each contractor is intimately familiar with learning curve theory and knows what his learning rate is for this type of work.This information is summarized in the table. Furnction First Pool Learning Rate Excavation 22 hours .95 Concrete 32 hours .90 Plumbing 10 hours .85 Finishirg 30 hours .85 How long will it take to complete the 25th pool for the subdivision? How long will it take to complete all 25 pools for the subdivision?

(Essay)

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Question 46

What is the total project budget in this time-phased budget? Activity July August Septernber October Novernber RFP 34,721 Aralysis 11,049 33,655 34,388 Pesiggn 33,718 34,474 26,759 36,328 Codirg 7,713 34,905 40,244 Testing 40,916 896 Trairing 20,958 9,327 Roll-Out 8,186

(Multiple Choice)

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Question 47

What is the total amount budgeted for design costs in this time-phased budget? Activity Jaruary February March April Survey 8,000 Design 5,250 4,500 Pirt 6,700 Foundation 12,550 Frarning 37,250 Plurnb 7,800 Wire 5,500

(Multiple Choice)

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Question 48

Activity-based costing and bottom-up budgeting share the step of:

(Multiple Choice)

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Question 49

Describe any three reasons that cost overruns occur in project work.

(Essay)

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Question 50

Unplanned costs incurred when steps are taken to speed up a project's completion are called:

(Multiple Choice)

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Question 51

What is the cumulative cost in February in this time-phased budget? Activity Jaruary February March April Survey 8,000 Design 5,250 4,500 Pirt 6,700 Foundation 12,550 Frarning 37,250 Plurnb 7,800 Wire 5,500

(Multiple Choice)

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Question 52

What's the relationship between WBS,scheduling,and budgeting?

(Essay)

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Question 53

Material is an example of a cost that is recurring,variable and direct.

(True/False)

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Question 54

What are four major categories of costs? Provide descriptions for each category.

(Essay)

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Question 55

Effective comparative estimates rely most heavily on:

(Multiple Choice)

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Question 56

A budget containing disaggregated figures across the schedule when work is planned is a:

(Multiple Choice)

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Question 57

Which statement about the use of learning curves is BEST?

(Multiple Choice)

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Question 58

What are parametric cost estimates and how are they developed?

(Essay)

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Question 59

Analogous estimation is a type of ________ estimating method.

(Multiple Choice)

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Question 60

Whether it is the Boeing V-22 Osprey or a simple storm door installation for a do-it-yourselfer,nothing is ever completed as quickly or as cheaply as initial estimates due to:

Which of these is typically a nonrecurring cost?

You are probably looking at a bill for a variable cost when you are paying for:

Define learning curve theory and describe how learning curves are used in project management.

What is the total project budget in this time-phased budget? Activity Jaruary February March April Survey 8,000 Design 5,250 4,500 Pirt 6,700 Foundation 12,550 Frarning 37,250 Plurnb 7,800 Wire 5,500

What is the total project budget in this time-phased budget? Activity July August Septernber October Novernber RFP 34,721 Aralysis 11,049 33,655 34,388 Pesiggn 33,718 34,474 26,759 36,328 Codirg 7,713 34,905 40,244 Testing 40,916 896 Trairing 20,958 9,327 Roll-Out 8,186

What is the total amount budgeted for design costs in this time-phased budget? Activity Jaruary February March April Survey 8,000 Design 5,250 4,500 Pirt 6,700 Foundation 12,550 Frarning 37,250 Plurnb 7,800 Wire 5,500

Activity-based costing and bottom-up budgeting share the step of:

Describe any three reasons that cost overruns occur in project work.

Unplanned costs incurred when steps are taken to speed up a project's completion are called:

What is the cumulative cost in February in this time-phased budget? Activity Jaruary February March April Survey 8,000 Design 5,250 4,500 Pirt 6,700 Foundation 12,550 Frarning 37,250 Plurnb 7,800 Wire 5,500

What's the relationship between WBS,scheduling,and budgeting?

Material is an example of a cost that is recurring,variable and direct.

What are four major categories of costs? Provide descriptions for each category.

Effective comparative estimates rely most heavily on:

A budget containing disaggregated figures across the schedule when work is planned is a:

Which statement about the use of learning curves is BEST?

What are parametric cost estimates and how are they developed?

Analogous estimation is a type of ________ estimating method.

Introduction: Why Project Management

The Organizational Context: Strategy, Structure, and Culture

Project Selection and Portfolio Management

Leadership and the Project Manager

Scope Management

Project Team Building, Conflict, and Negotiation

Risk Management

Project Scheduling: Networks, Duration Estimation, and Critical Path

Project Scheduling: Lagging, Crashing, and Activity Networks

Advanced Topics in Planning and Scheduling: Agile and Critical Chain

Resource Management

Project Evaluation and Control

Project Closeout and Termination

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