*L05 Quiz

The ability to assign a cost to a cost object in some form of relationship" is the definition of

• Budgeting

• Direct cost

• Traceability

• Indirect cost

Salaries paid to staff working on two or more projects at the same time are considered direct costs to the respective projects.

• TRUE

• FALSE

Which of the following statements correctly describes the purpose of preparing a project budget? Tick all correct statements.

• A budget is a project communication tool.

• It is a means of determining the success of a project.

• A budget helps project manager identify project risks.

• It helps project manager plan the deployment of resources.

Which of the following is NOT a method of assigning indirect costs to a cost centre?

• Time spent

• Total expenses

• Manpower costs

• Percentage of sales

Which of the following is/are advantage(s) of top-down budgeting? Tick all that apply.

• Detailed

• Faster to determine and approve

• Management has total control of budget

• Takes into account prevailing operational conditions

Which of the following is/are advantage(s) of bottom-up budgeting? Tick all that apply.

• Detailed

• Risky process

• Time consuming

• Buy-in from line managers

A detailed _____________ improves the accuracy of the project budget.

• Quality plan

• Team briefing

• Project selection criteria

• Work break down structure

Calculate all possible paths. Which is the shortest possible time for this project ot complete (critical path)?

• Start-A-D-H-J-End

• Start-B-E-I-J-End

• Start-B-F-K-End

• Start-C-G-K-End

Your team needs a dedicated mobile phone for the project.

Which is the most suitable phone based on this matrix

• Redmi 12

• Vivo Y22s

• Oppo Reno 8

• Huawei P40

Pareto diagrams are conceptually related to Pareto’s Law, which holds that

• Anything that can go wrong will go wrong, and at the worst possible time

• space and time are relative, and all motion must be relative to a frame of reference

• a relatively small number of causes will typically produce a large majority of the problems

• when two bodies interact, they apply forces to one another that are equal in magnitude