Nine Knowledge Areas

Submitted to: Sir Shamsi MBA 6-B

Submitted by: Beenish Kanwal Sana Saleem Kanwal Safdar

Most likely there is negotiating, questioning, and evaluating for..projects than for ones. A smaller, larger

Larger, a smaller Medium, larger Medium, smaller

The relation between the project cost and project scope should be. Direct Indirect No relationship

The .may be one of the biggest expenses of a project. Miscellaneous cost Overhead cost Cost of the labor Raw material cost

Cost estimating is the process of calculating the cost of..needed to complete the project work. Identified resources Heterogeneous resources Supplementary resources Scare resources

however, includes a profit margin. Cost estimating Pricing Gross margin Bad debts

Cost estimating relies on several project components from the process groups.

Initiation and planning Monitoring and controlling Implementation Scoping

WBS is an input to ..major planning processes. 9 5 10 12

.. Costs are attributed directly to the project work and cannot be shared among projects. Indirect cost Fixed cost Direct cost Variable cost

..Costs are representative of more than one project. Fixed cost Indirect cost Direct cost Variable cost

.. Costs vary depending on the conditions applied in the project. Direct cost

Fixed cost Indirect cost Variable cost

costs remain constant throughout the project. Fixed cost Indirect cost Variable cost Direct cost

Estimating of the duration of the activities, which predict the length of the projects, are needed for decisions on ..the projects. Pricing Costing Financing Investing

One of the preferred organizational process assets is. Historical information Future information Both a and b None of the above

Recollection may be useful, but are when compare to documented results. Highly reliable Highly unreliable May be reliable None of the above

WBS may be referenced to an organizations .. Code of conduct Code of accounts Code of ethic All of the above

.. is a coding system used by the performing organizations accounting system to account for the project work. Code of ethic Code of accounts Code of conduct All of the above

.are primary expense on most projects. Overhead People Variable expense Fixed expense

can impact on the cost of project. Risk Interest rate Inflation rate Exchange rate

Analogous estimating relies on historical information to predict the cost of the current project also known as. Top-down estimating Down-top estimating

Medium estimating, All of the above

Analogous estimating is a form of Poor judgment Expert judgment Prudent judgment No judgment

starts from zero, accounts for each component of the WBS. Top up estimating Analogous estimating Bottom-up estimating No approach

.uses a mathematical model based also known parameters to predict the cost of a project. Parametric modeling Financial modeling Cost modeling Modeling design

..creates quantitative predications based on variables within one value to predict variables in another. Cost analysis Regression analysis Budget analysis Data analysis

The cost of the project is expressed in monetary terms, such as dollars, euros, or yen, so management can compare projects based on costs. True false

The project manager should not consider changes to the projects scope True false

The range of variance for the rough order of magnitude can be from -25% to +75% 25% to +75% -75% to +25% Above 75%

The range of variance for definitive estimate can be from ... 20% to 30% 5% to 10% -5% to +10% -20% to 30%

The range of variance for the budget can be from -10% to +25%. True false

Information on the project scope work, this may not be provided by referencing the WBS. True False

30. The cost management plan details how variances from the project costs will be managed. a. True b. False 31. Cost budgeting is the process of assigning a cost to a/an _____________ work package. a. individual b. multiple. c. few d. none 32. Cost budgeting and cost estimates may go hand-in-hand, but estimating should completed before a budget is requested---- or assigned. a. True b. False 33. Cost control does not focus on the ability of costs to change and on the ways of allowing or preventing cost changes from happening. a. True b. False 34. The cost baseline is the expected cost the project will incur. a. True b. False 35. When changes to the project scope are requested, an analysis of the associated costs to complete the proposed change is not required. a. True b. False 36. The cost change control system is part of the integrated change control system and documents the procedures to request, approve and incorporate changes to project costs. a. True b. False 37. The cost variance (CV) is the difference between the earned value and the actual costs (ACs). a. True b. False

38. A schedule variance (SV) is the value that represents the difference between where the project was planned to be at a certain point in time and where the project actually is. a. True b. False 39. The cost performance index (CPI) does not show the amount of work the project is completing per dollar spent on the project. a. True b. False 40. The schedule performance index (SPI) is very similar to the CPI. a. True b. False 41. The estimate to complete (ETC) shows how many people will be needed to complete the project. a. True b. False 42. The estimate at completion (EAC) is a hypothesis of what the total cost of the project will be. a. True b. False 43. Anomalies, or weird stuff, can never cause project costs to be skewed. a. True b. False 44. Planning is an iterative process. a. True b. False 45. Its hard to imagine a project, especially larger projects, moving forward without the use of computers. a. True b. False 46. Cost control is a discontinuous process throughout the project. a. True b. False

47. The project manager must actively monitor the project for variances to costs. a. True b. False 48. A revision to the cost estimates requires communication with the key stakeholders to share why the costs were revised. a. True b. False 49. If a project undergoes drastic changes ---due to large changes to the project scope, false assumptions, or new demands from the customer ---it is not necessary to rebaseline the project cost. a. True b. False 50. Corrective actions are any actions applied to project performance to bring the project back into alignment with the project plan. a. True b. False