Cosc 475 Final UPDATED ACTUAL Exam
Questions and CORRECT Answers
Activity - CORRECT ANSWER - A task or process to be accomplished in a set period of
time as part of working toward a larger project goal. An **** can be assigned to a resource(s)
and have an associated cost. **** are ordered with logic links.
Actual Cost - CORRECT ANSWER - The real amount paid of incurred for labor or
materials.
Bar Chart - CORRECT ANSWER - A chart on which activities are represented by Bars.
The Bars length is represented by the activity Duration, and is lined-up on a X-axis time scale.
Base Line - CORRECT ANSWER - A set of dates and costs frozen at the start of the
project and used as a basis for performance evaluation as the project progresses.
Budgeted Cost - CORRECT ANSWER - The amount planned ahead and placed aside to
execute an activity or an entire project from start to finish.
Cost Breakdown Structure (CBS) - CORRECT ANSWER - A breakdown of the project
into cost elements for cost control planning. A **** will deconstruct a project into various cost
elements or types such as area, phase, discipline, or materials.
Critical Activity - CORRECT ANSWER - An activity that is on the project's critical path.
Critical Path - CORRECT ANSWER - The sequence of network activities which add up to
the longest overall duration. This determines the shortest time possible to complete the project.
Date Constraint - CORRECT ANSWER - A date restriction imposed on an activity's start
or finish date in scheduling software. Applying a **** will swap the computed date to a date
imposed by the user. Often used to impose deadlines or to delay activities in a schedule
, Direct Labor - CORRECT ANSWER - (1) Labor which can be directly related/allocated to
the output of a productive account or cost center, compared with indirect labor which is not
directly related to output. (2) Labor employed directly by owner or main contractor, as opposed
to sub-contract labor
Duration - CORRECT ANSWER - The number of calendar periods it takes (or is
estimated to take) from the time the execution of an element starts to the moment it is completed.
Estimate - CORRECT ANSWER - Evaluation of expected quantities, time and man-hours,
with allowances and provisions for expected unknowns.
Estimated Cost - CORRECT ANSWER - An approximated cost derived through a cost
estimation technique such as using historical or empirical methods.
Float - CORRECT ANSWER - **** the amount of time that an activity in a project
network can be delayed without causing a delay to: subsequent tasks (free ****) or the project
completion date (total ****)
Indirects - CORRECT ANSWER - **** costs are costs that are not directly accountable to
an activity or work package. **** costs may be either fixed or variable. **** costs include
administration and personnel. These are those costs which are not directly related to production.
Some **** costs may be overhead. But some overhead costs can be directly attributed to a
project and are direct costs.
Lost Time - CORRECT ANSWER - Productive time lost because of inclement weather,
labor problems, equipment failure or other cause.
Planning - CORRECT ANSWER - Project **** is part of project management, which
relates to the use of schedules such as Gantt charts to plan and subsequently report progress
within the project environment. Initially, the project scope is defined and the appropriate
methods for completing the project are determined.
Questions and CORRECT Answers
Activity - CORRECT ANSWER - A task or process to be accomplished in a set period of
time as part of working toward a larger project goal. An **** can be assigned to a resource(s)
and have an associated cost. **** are ordered with logic links.
Actual Cost - CORRECT ANSWER - The real amount paid of incurred for labor or
materials.
Bar Chart - CORRECT ANSWER - A chart on which activities are represented by Bars.
The Bars length is represented by the activity Duration, and is lined-up on a X-axis time scale.
Base Line - CORRECT ANSWER - A set of dates and costs frozen at the start of the
project and used as a basis for performance evaluation as the project progresses.
Budgeted Cost - CORRECT ANSWER - The amount planned ahead and placed aside to
execute an activity or an entire project from start to finish.
Cost Breakdown Structure (CBS) - CORRECT ANSWER - A breakdown of the project
into cost elements for cost control planning. A **** will deconstruct a project into various cost
elements or types such as area, phase, discipline, or materials.
Critical Activity - CORRECT ANSWER - An activity that is on the project's critical path.
Critical Path - CORRECT ANSWER - The sequence of network activities which add up to
the longest overall duration. This determines the shortest time possible to complete the project.
Date Constraint - CORRECT ANSWER - A date restriction imposed on an activity's start
or finish date in scheduling software. Applying a **** will swap the computed date to a date
imposed by the user. Often used to impose deadlines or to delay activities in a schedule
, Direct Labor - CORRECT ANSWER - (1) Labor which can be directly related/allocated to
the output of a productive account or cost center, compared with indirect labor which is not
directly related to output. (2) Labor employed directly by owner or main contractor, as opposed
to sub-contract labor
Duration - CORRECT ANSWER - The number of calendar periods it takes (or is
estimated to take) from the time the execution of an element starts to the moment it is completed.
Estimate - CORRECT ANSWER - Evaluation of expected quantities, time and man-hours,
with allowances and provisions for expected unknowns.
Estimated Cost - CORRECT ANSWER - An approximated cost derived through a cost
estimation technique such as using historical or empirical methods.
Float - CORRECT ANSWER - **** the amount of time that an activity in a project
network can be delayed without causing a delay to: subsequent tasks (free ****) or the project
completion date (total ****)
Indirects - CORRECT ANSWER - **** costs are costs that are not directly accountable to
an activity or work package. **** costs may be either fixed or variable. **** costs include
administration and personnel. These are those costs which are not directly related to production.
Some **** costs may be overhead. But some overhead costs can be directly attributed to a
project and are direct costs.
Lost Time - CORRECT ANSWER - Productive time lost because of inclement weather,
labor problems, equipment failure or other cause.
Planning - CORRECT ANSWER - Project **** is part of project management, which
relates to the use of schedules such as Gantt charts to plan and subsequently report progress
within the project environment. Initially, the project scope is defined and the appropriate
methods for completing the project are determined.
