Cost and Medium Difficulty
Chapter 5
125. The process of forecasting or approximating the time and cost of completing project deliverables is called
A. Budgeting
B. Predicting
C. Estimating
D. Planning
E. Guesstimating
Gray - Chapter 05 #1
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
126. In practice, estimating processes are frequently classified as
A. Top down/bottom up
B. Rough/polished
C. Precise/order of magnitude
D. Draft/final
E. Both A and B are correct
Gray - Chapter 05 #2
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY
127. A typical statement in actual practice is that estimates should have a probability of being met ______ of the time.
A. 100%
B. 98%
C. 95%
D. 90%
E. 80%
Gray - Chapter 05 #3
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
128. A good starting point for developing time and cost estimates is
A. Past experience
B. Work packages
C. Task analysis
D. Time and motion studies
E. Work breakdown structure
Gray - Chapter 05 #4
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
129. Which of the following is not one of the factors that need to be considered to improve quality of estimates for project times and costs?
A. Planning horizon
B. People
C. Padding estimates
D. Profit
E. Project structure
Gray - Chapter 05 #5
Level: Medium difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
130. Ed is looking over the actual results of projects and comparing them to what was estimated. He notices that projects that took six months or longer to complete were noticeably more off the estimates. Which of the following factors is he recognizing?
A. Padding estimates
B. Planning horizon
C.
125. The process of forecasting or approximating the time and cost of completing project deliverables is called
A. Budgeting
B. Predicting
C. Estimating
D. Planning
E. Guesstimating
Gray - Chapter 05 #1
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
126. In practice, estimating processes are frequently classified as
A. Top down/bottom up
B. Rough/polished
C. Precise/order of magnitude
D. Draft/final
E. Both A and B are correct
Gray - Chapter 05 #2
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY
127. A typical statement in actual practice is that estimates should have a probability of being met ______ of the time.
A. 100%
B. 98%
C. 95%
D. 90%
E. 80%
Gray - Chapter 05 #3
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
128. A good starting point for developing time and cost estimates is
A. Past experience
B. Work packages
C. Task analysis
D. Time and motion studies
E. Work breakdown structure
Gray - Chapter 05 #4
Level: Easy difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
129. Which of the following is not one of the factors that need to be considered to improve quality of estimates for project times and costs?
A. Planning horizon
B. People
C. Padding estimates
D. Profit
E. Project structure
Gray - Chapter 05 #5
Level: Medium difficulty: EMPTY learning objective: EMPTY refer to: EMPTY reference: EMPTY scrambling: EMPTY
130. Ed is looking over the actual results of projects and comparing them to what was estimated. He notices that projects that took six months or longer to complete were noticeably more off the estimates. Which of the following factors is he recognizing?
A. Padding estimates
B. Planning horizon
C.