Question 1

The preferred method for situations where the cost and time estimates are important, in a fixed contract situation, and when the customer wants a lot of detail is the ___________ approach to estimating project time and costs.

Accepted Answer

The answer of The preferred method for situations where the...

Question 2

The estimating factor that considers the skill level of participants doing the estimating is known as the ___________ factor.

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Question 3

The top-down method of estimating project time and costs that is useful for projects requiring the same task, group of tasks, or product repeated several times, especially if it is labor intensive, is the ______________.

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The answer of The top-down method of estimating project time...

Question 4

When work package estimates are made by individuals most knowledgeable about the work being performed and these estimates are then "rolled up" to find estimated costs for major deliverables and the project itself, ____________ estimating is being used.

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Question 5

The approach to estimating project time and cost that begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented is known as ____________.

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Question 6

The estimating factor that considers the prevailing belief in some firms that detailed estimating takes too much time and is not worth the effort is an example of the ___________ factor.

Accepted Answer

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Question 7

The top-down method for estimating project time and cost that uses weighted variables based on major parameters and is frequently used in the development of software is known as the ____________ method.

Accepted Answer

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Question 8

The bottom-up method of estimating where work package time and costs for past projects are used as a starting point for a new project and adjustments are made based on differences in the new project is known as the ___________ method.

Accepted Answer

The answer of The bottom-up method of estimating where work...

Question 9

The salary of the project manager and temporary rental space for the project team would be classified as __________ costs.

Accepted Answer

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Question 10

The estimating approach that is best to use on projects where there is an unusual amount of uncertainty surrounding the project and when it is impractical to estimate times and costs for the entire project is known as ___________.

Accepted Answer

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Question 11

Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount.He is using the ___________ method of top-down estimating.

Accepted Answer

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Question 12

The estimating factor that considers the decreasing accuracy of estimates as one forecasts activities that are further into the future is known as ____________.

Accepted Answer

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Question 13

Project costs such as labor and materials are typically classified as ___________ costs.

Accepted Answer

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Question 14

When someone uses experience and/or information from others to determine the project duration and total cost, ____________ estimating is being used.

Accepted Answer

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Question 15

The preferred method for situations involving strategic decision making, projects with a high degree of uncertainty, and projects with an unstable scope is the ___________ approach to estimating project time and costs.

Accepted Answer

The answer of The preferred method for situations involving strategic...

Question 16

The information necessary to conduct a bottom-up estimate of project time and costs starts with the ___________.

Accepted Answer

The answer of The information necessary to conduct a bottom-up...

Question 17

The top-down method of estimating when the pooled experience of senior and/or middle managers are used to estimate the total project duration and cost is the _________ method.

Accepted Answer

The answer of The top-down method of estimating when the...

Question 18

Rose is working on estimates for a project that is very similar to a previous project, in that it has many of the same features and those features have similar costs.Each feature or deliverable will represent the same percentage of the total cost as it did for the previous project.Rose is using the _________ method of top-down estimating.

Accepted Answer

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Question 19

A way to improve estimates on future projects is to collect and archive data on past project estimates and actuals.Creating a ___________ for estimating is a way to achieve this goal.

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Question 20

The estimating factor that considers the tendency to overestimate project time and cost in order to improve the likelihood of meeting the estimates is known as the ___________ factor.

Accepted Answer

The answer of The estimating factor that considers the tendency...

Quiz 5: Estimating Project Times and Costs