Unit 5-Project Management -Questions
and Answers.
Mary sets a target for the project budget during the planning phase. While executing the
project, she checks to make sure she is within budget. Mary determines that she needs to refine
the scope of the project and change her timeline and costs for the project activities. Mary is
using which tool to manage the cost of this project? - Answer funding limit reconciliation
Liz looks at the activity costs that must be incurred to complete all project deliverables. Liz is
determining the: - Answer project funding requirements
Management Contingency Reserve is identified in which process: - Answer Determine Budget
Felicia averages three quoted costs and determines that she will need to put an extra $20,000
into the project budget. What cost estimating technique did Felicia use? - Answer vendor bid
analysis
Jenna's team is creating a new product. A deliverable for the project consists of building a
website for the product. Jenna announces that she will be outsourcing this deliverable.
Company A estimated a cost of $60,000 with completion in 3 months, Company B estimated a
cost of $100,000 with completion in 2 months, and Company C estimated a cost of $50,000 with
completion in 4 months. Jenna averages the three proposed costs and determines that she will
need to put $70,000 into the project budget for the website deliverable. What cost estimating
technique did Jenna use? - Answer vendor bid analysis
As the project manager, it's your responsibility to develop the project budget. Inputs to the
project budget do not include the - Answer stakeholder register
The project manager is estimating the cost of procuring a specialist on a part-time basis.
Because she doesn't know for sure whether the desired resource will be available when the
project begins, she has some uncertainty in developing the cost estimate. To account for the
uncertainty, she calculates an optimistic cost estimate, a pessimistic cost estimate, and a most
likely cost estimate. Next, she selects the average of these estimates. The technique she used to
develop the estimate is referred to as a - Answer none of these
Glenn is determining the project cost baseline by calculating the costs approved for each of the
project's work packages. Glenn is determining the: - Answer planned value
Tucker is the construction project manager for a new school building. He measures the project's
performance and progress by looking at the planned value, earned value, and actual cost.
Which method is Tucker using to determine the project performance? - Answer earned value
management
and Answers.
Mary sets a target for the project budget during the planning phase. While executing the
project, she checks to make sure she is within budget. Mary determines that she needs to refine
the scope of the project and change her timeline and costs for the project activities. Mary is
using which tool to manage the cost of this project? - Answer funding limit reconciliation
Liz looks at the activity costs that must be incurred to complete all project deliverables. Liz is
determining the: - Answer project funding requirements
Management Contingency Reserve is identified in which process: - Answer Determine Budget
Felicia averages three quoted costs and determines that she will need to put an extra $20,000
into the project budget. What cost estimating technique did Felicia use? - Answer vendor bid
analysis
Jenna's team is creating a new product. A deliverable for the project consists of building a
website for the product. Jenna announces that she will be outsourcing this deliverable.
Company A estimated a cost of $60,000 with completion in 3 months, Company B estimated a
cost of $100,000 with completion in 2 months, and Company C estimated a cost of $50,000 with
completion in 4 months. Jenna averages the three proposed costs and determines that she will
need to put $70,000 into the project budget for the website deliverable. What cost estimating
technique did Jenna use? - Answer vendor bid analysis
As the project manager, it's your responsibility to develop the project budget. Inputs to the
project budget do not include the - Answer stakeholder register
The project manager is estimating the cost of procuring a specialist on a part-time basis.
Because she doesn't know for sure whether the desired resource will be available when the
project begins, she has some uncertainty in developing the cost estimate. To account for the
uncertainty, she calculates an optimistic cost estimate, a pessimistic cost estimate, and a most
likely cost estimate. Next, she selects the average of these estimates. The technique she used to
develop the estimate is referred to as a - Answer none of these
Glenn is determining the project cost baseline by calculating the costs approved for each of the
project's work packages. Glenn is determining the: - Answer planned value
Tucker is the construction project manager for a new school building. He measures the project's
performance and progress by looking at the planned value, earned value, and actual cost.
Which method is Tucker using to determine the project performance? - Answer earned value
management
