KIX2004 Quiz 2

What should be a project manager do or follow to ensure clear boundaries for project completion?

• Scope verification

• Completing a scope statement

• Risk management plan

• Scope definition

Your project team for a new product development project is determined to produce the most accurate cost estimates possible. As the project manager, which of the following estimation techniques would you recommend the team use to create the most accurate estimate?

• Top-down estimating

• Bottom-up estimating

• Analogous estimating

• Parametric estimating

Under which conditions is the parametric method of estimating most reliable?

• When estimating is done at higher level and distributed down to activities

• When considerable historical data is taken into account

• When expert judgement is used

• When estimating is done at activity level and then summed up for the project

Donald is currently leading his project team in the completion of the implementation phase of a project to upgrade a manufacturing plant with new equipment. Despite his efforts to influence spending decisions, he laments that the project may miss its defined deadline because he does not have control over the allocation and management of his project's budget. In which of the following organizational structures is Donald working?

• Functional

• Project-oriented

• Strong-matrix

• PMO

Your project has a budget of RM 130,000 and is expected to last 10 months, with the work and budget spread evenly across all months. The project is now in month three, the work is on schedule, but you have spent RM 65,000 of the project budget. What is your cost variance?

• RM 65,000

• RM64,999

• RM 39,000

• RM 26,000

You are the project manager for the JKH Project. You have elected to use parametric estimating in your cost estimating for the project. Which of the following is an example of parametric estimating?

• RM 949 per ton

• Historical information from a similar project

• Estimates built bottom-up based on WBS

• Estimates based on top-down budgeting

You can purchase pea gravel for your project at RM 437 per metric ton. You need four tons of the pea gravel, so you predict your costs will be RM 1,748. This is an example of which cost-estimating approach?

• Top-down

• Bottom-up

• Analogous

• Parametric

You and your project team are about to enter a meeting to determine project costs. You have elected to use bottom-up estimating and will base your estimate on the WBS. Which one of the following is not an attribute of bottom-up estimating?

• People doing the work create the estimates

• It creates a more accurate estimate

• It’s more expensive to do than other methods

• It’s less expensive to do than other methods

The models designed to overcome some of the disadvantages of profitability model is known as:

• Factoring models

• Evaluation models

• Scoring models

• Profitability models

All these are conditions to initiate a project:

• Feasibility study confirmed the project meets the market needs and can be completed on time and on budget

• Market demand, strategic opportunity, customer request, technological advantage, legal requirements

• All executives support the objectives of the project and consider them as part of company’s strategy

• Market demand, user’s request, availability of budget, availability of resources, executive decision