CIS 517 QUIZ 5
Q You are a project manager working for iTrim Central and you're preparing your cost management plan. You know that all of the following are true regarding this plan except for which one?
This plan is a subsidiary of the project management plan.
Control thresholds should be described in the plan as to how estimates will adhere to rounding ($100 or $1,000, and so on).
The WBS provides the framework for this plan.
Units of measure should be described in the plan usually as hours, days, weeks, or lump sum.
Q: Which of the following ensures that information is distributed but does not acknowledge or certify that it was understood by intended receiver(s)?
Push communication
Message and feedback message
Transmit
Interactive communication
Q: This document is used to establish the criteria for planning, estimating, budgeting, and controlling costs.
Project funding requirements, an output of the Determine Budget process.
Cost management plan, an output of the Plan Cost Management process.
Cost baseline, an output of the Determine Budget process.
Performance management baseline, an output of the Plan Cost Management process.
Q: You have eight key stakeholders (plus yourself) to communicate with on your project. Which of the following is true?
There are 36 channels of communication, and this should be a consideration when using the communications technology tool and technique.
There are 36 channels of communication, and this should be a consideration when using the communications requirements analysis tool and technique.
There are 28 channels of communication, and this should be a consideration when using the communications technology tool and technique.
There are 28 channels of communication, and this should be a consideration when using the communications requirements analysis tool and technique.
.
Q: You are preparing your communications management plan and know that all of the following are true except for which one?
Acknowledgment means the receiver has received and agrees with the message.
Transmit concerns the method used to convey the message.
Decode means to translate thoughts or ideas so they can be understood by others.
Encoding and decoding are the responsibility of both the sender and receiver.
Q: This process is concerned with determining the engagement levels of the stakeholders.
Plan Stakeholder Management
Manage Stakeholder Engagement
Plan Communications Management
Control Communications
Q: You are working on a project that will upgrade the phone system in your customer service center. You have considered using analogous estimating, parametric estimating, bottom-up estimating, and three-point estimating to determine activity costs. Which process does this describe?
Estimate Costs
Determine Budget
Estimating Activity Costs
Estimating Activity Resources
Q: Your project sponsor has requested a cost estimate for the project on which you're working. This project is similar in scope to a project you worked on last year. She would like to get the cost estimates as soon as possible. Accuracy is not her primary concern right now. She needs a ballpark figure by tomorrow. You decide to use ___________________.
bottom-up estimating techniques
parametric estimating techniques
three-point estimating techniques
analogous estimating techniques
Q: Which of the following is used to build a budget?
Bottom-up
Cost aggregation
Analogous
Parametric
Q: You have received the following estimates for a complex activity that is critical to the success of your project. The three-point estimates are: most likely estimate is $42, the optimistic estimate is $35, and the pessimistic estimate is $54. What is the expected activity cost of this activity using the beta distribution formula (rounded to the nearest dollar)?
44
43
39
49
.
Q: You want to improve your activity cost estimates by taking into account estimation uncertainty and risk. Which of the following tools and techniques will you use?
Parametric estimates
Bottom-up estimates
Analogous estimates
Three-point estimating
Q: All of the following are true regarding Plan Communications Management except for which one?
Communications requirements analysis, communication technology, communication methods, and expert judgment are tools and techniques of this process.
It's tightly linked with enterprise environmental factors and all organizational process assets are used as inputs for this process.
This process should be completed as early in the project as possible.
The communications management plan is a subsidiary plan of the project management plan.
Q: You are working on a project that will upgrade the phone system in your customer service center. You have used bottom-up estimating techniques to assign costs to the project activities and have determined the cost baseline. Which of the following statements is true?
You have completed the Determine Budget process and now need to complete the Schedule Development process to establish a project baseline to measure future project performance against.
You have completed the Determine Budget process, and the cost baseline will be used to measure future project performance.
You have completed the Estimate Cost process and now need to complete the Determine Budget process to develop the project's cost baseline.
You have completed the Estimate Cost process and established a cost baseline to measure future project against.
Q: You need to communicate information in a multi-directional fashion with several stakeholders. Which of the following is true?
This describes push communication, which is a communication model.
This describes interactive communication, which is a communication method.
This describes communication requirements analysis, which is a communication model.
This describes pull communication, which is a communication method.
Q: You are a project manager working for iTrim Central. Your organization has developed a new dieting technique that is sure to be the next craze. One of the deliverables of your feasibility study was an analysis of the potential financial performance of this new product, and your executives are very pleased with the numbers. You will be working with several vendors to produce products, marketing campaigns, and software that will track customers' progress with the new techniques. For purposes of performing earned value measurements for project costs, you are going to place which of the following in the WBS?
Code of accounts
Control account
Reserve account
Chart of accounts
Q: Your project sponsor has requested a cost estimate for the project. She would like the cost estimate to be as accurate as possible because this might be her one and only chance to secure the budget for this project because of recent cuts in special projects. You decide to use _______________.
top-down estimating techniques
expert judgment techniques
analogous estimating techniques
bottom-up estimating techniques
Q: All of the following are tools and techniques of the Determine Budget process except for which one?
Expert judgment
Reserve analysis
Cost of quality
Historical relationships
Q: Communication technology takes into account all of the following factors that can affect the project except for which one?
Reasons for the distribution of information
Project environment
Urgency of the need for information
Duration of the project
Q: You are the project manager for a custom home-building construction company. You are working on the model home project for the upcoming Show Homes Tour. The model home includes Internet connections in every room, talking appliances, and wiring for home theaters. You are working on the cost baseline for this project. All of the following statements are true except which one?
This process aggregates the estimated costs of project activities.
The cost baseline is the time-phased budget at completion for the project.
This process assigns cost estimates for expected future period operating costs.
The cost baseline will be used to measure variances and future project performance.
Q: You are the project manager for a custom-home-building construction company. You are working on the model home project for the upcoming Show Homes Tour. The model home includes Internet connections in every room, talking appliances, and wiring for home theaters. You are working on the Determine Budget process. All of the following statements are true except which one?
You document the funding limit reconciliation to include a contingency for unplanned risks.
The performance measurement baseline will be used to perform earned value management calculations.
You document that funding requirements are based on a quarterly basis and are derived from the cost baseline.
You discover that updates to the risk register are needed as a result of performing this process.
Q: Which of the following is displayed as an S curve?
Cost baseline
Cost estimates
Expenditures to date
Funding requirements
Q: All of the following are true regarding the Project Cost Management Knowledge Area processes except for which one?
The Estimate Cost process is closely linked with the Estimate Activity Resources process.
The Estimate Costs and Determine Budget processes can be combined into one process for small projects.
The primary concern of the Project Cost Management Knowledge Area is determining the amount of resources needed to complete project activities.
General management techniques such as ROI, discounted cash flow, and payback analysis can be used to help derive cost estimates.
Q: All of the following are inputs of the Estimate Costs process except for which one?
Project schedule
Scope baseline
Resource calendars
Human resource management plan
Q: You have received estimates for activity costs associated with one work package of the WBS. Additional contingencies have been added to the estimates to account for cost uncertainty. Which of the following tools and techniques of Estimate Costs does this describe?
Analogous estimates
Vendor bid analysis
Three-point estimates
Reserve analysis
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