Question 1

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

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Question 2

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 ___________.

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Question 3

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

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Question 4

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

Accepted Answer

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Question 5

Cost,time,and budget estimates are the lifeline for control;they serve as the standard for comparison of the actual and the planned throughout the life of the project.

Accepted Answer

Project status reports depend on reliable estimates as the major input for measuring variances and taking corrective action.

Question 6

Past experience is almost always used primarily in the initial phases of estimating.

Accepted Answer

Past experience is a good starting point for developing time and cost estimates.

Question 7

Estimates should be made based on ___________ conditions,efficient methods,and a normal level of resources.

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Question 8

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.

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Question 9

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.

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Question 10

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 11

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.

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Question 12

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

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Question 13

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 14

Costs that are associated with time devoted to the coordination in meetings and briefings as well as time necessary to resolve disconnects between tasks are known as ____________ costs.

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Question 15

Costs that are not directly related to a specific project,such as advertising,accounting,and senior management's salary,are classified as _____________ costs.

Accepted Answer

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Question 16

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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Question 17

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

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Question 18

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

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Question 19

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 20

Project estimates should be broken down into as much detail,and with as much accuracy,as possible.

Accepted Answer

Detailed data gathering is not always possible,practical or necessary when developing cost and time estimates.

Quiz 5: Estimating Project Times and Costs