Exam 7: Project Cost Management

____ are those costs that an organization can easily measure in dollars.

Any new technology or business process is untested and has inherent risks.

____________________ allows you to see a big-picture view of the cost of a project throughout its life cycle.

The ____ is the ratio of earned value to planned value and can be used to estimate the projected time to complete the project.

_________________________ and SPI less than one or less than 100 percent indicate problems.

Many projects,particularly information technology projects,do not have good planning information,so tracking performance against a plan might produce misleading information.

The WBS is not a required input when developing a cost estimate.

____________________ costs or benefits are costs or benefits that are difficult to measure in monetary terms.

The ____ is that portion of the approved total cost estimate planned to be spent on an activity during a given period.

In general,____________________ numbers for cost and schedule variance indicate problems in those areas.

____ is the earned value minus the actual cost.

Project managers should focus on ____,since they can control them.

Organizations have a history of spending too much money in the early phases of information technology projects.

There does not need to be a change control system to define procedures for changing the cost baseline.

When developing an estimate for a large software project,estimates cannot be made before clear system requirements have been produced.

In an earned value chart,when the actual cost line is right on or above the earned value line,costs are less than or equal to planned.

A ____ provides an estimate of what a project will cost.

Three separate surveys of software project cost overruns found that the average cost overrun for all of the projects in their survey samples (not just unsuccessful projects)were ____ percent.

When justifying investments in new information systems and technology,the focus should only be on revenues or expenses.

____ includes the processes required to ensure that a project team completes a project within an approved budget.