This action might not be possible to undo. Are you sure you want to continue?
E1 Summer 2012 Multiple-Choice Exercise 1
Taken By Your Score Answered Correctly Min. Pass % Your Result Time Taken : Answer Key (188.8.131.52) : 100 out of 100 (100%) : 50 Question : 70 % : Pass : 5 mins 17 secs
Q1) The process of forecasting or approximating the time and cost of completing project deliverables is called: A. B. C. D. Budgeting Predicting Estimating(your answer) Planning Explanation:Estimating is the process of forecasting or approximating the time and cost of completing project deliverables. Larson & Gray Chapter 5
Q2) In practice, estimating processes are frequently classified as _____________ A. B. C. D. Top down/bottom up(your answer) Precise/order of magnitude Draft/final Rough/polished Explanation:Estimating processes are frequently classified as top-down and bottom-up. Top-down estimates are usually done by senior management. Larson & Gray Chapter 5
Q3) A good starting point for developing time and cost estimates is _______________. A. B. C. D. Past experience(your answer) Work packages Task analysis Work breakdown structure Explanation:Past experience is a good starting point for developing time and cost estimates. Larson & Gray Chapter 5
most of us are inclined to add a little padding to increase the probability and reduce the risk of being late. B. She estimates that two people and $25.Correct Q4) 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. B. E. Larson & Gray Chapter 5 Correct Q6) Which of the following is a good condition for top-down estimating? A. the project duration and cost are seriously overstated. D. D. C. Strategic decision making . small project(your answer) Explanation:Larson & Gray Chapter 5 Page 132 Correct Q7) Which of the following best condition for bottom-up estimating? A.000 in expenses will cover her needs. If everyone at all levels of the project adds a little padding to reduce risk. Because management typically insists on reducing forecasts by 20 percent. E. B. she increases her estimates to allow for that reduction. C. Planning horizon People Padding estimates Profit(your answer) Project structure Explanation:Larson & Gray Chapter 5 See List on Page 128-129 Correct Q5) Janet is forecasting how much money her department needs to support a new project. Padding estimates(your answer) Planning horizon Project structure People Organization culture Explanation:In work situations where you are asked for time and cost estimates. C. Which of the following factors is illustrated in this situation? A. Cost and time important Fixed price contract Customer wants details Internal. D.
In these circumstances the pattern of improvement phenomenon can be used to predict the reduction in time to perform the task..g. D. Adjusting estimates based on individual forecasting abilities Creating historical databases of previous projects(your answer) Using time and motion studies Benchmarking using the experience of other companies Explanation:Some organizations have large estimating departments of professional estimatorsâ€”e. Larson & Gray Chapter 5 Correct Q9) Which of the following is not one of the recommended guidelines for developing useful work package estimates? A. C. C. D. IBMâ€”that have developed large time and cost databases. D. From empirical evidence across all industries. C. E.B. E. Which of the following methods is she using? A. the pattern of this improvement has been quantified in the learning curve (also known as improvement curve. Estimates should be made by those responsible for the work Use several people to estimate the same work Estimates should be based on normal conditions Estimates should include a normal level of contingency(your answer) Estimates should be independent of other projects Explanation:Larson & Gray Chapter 5 Page 144-145 Correct Q10) Many companies are using which of the following for improving the estimating process? A. small project Fixed price contract(your answer) High uncertainty Explanation:Larson & Gray Chapter 5 Page 132 Correct Q8) Laura is forecasting the time and cost of developing an intranet for a new customer. Kodak. Her department has completed six such intranets for customers during the last two years. B. Although the proposed system is about the same size as the others she estimates that it will take about 10 percent less time and money. Boeing. and industrial progress curve). B. B. experience curve. Internal. D. Larson & Gray Chapter 5 . C. Ratio Template Apportion Function Point Learning Curve(your answer) Explanation:A phenomenon of tasks that are labor intensive.
C. C. D. B. To schedule work To determine how long the project should take and cost To develop cash flow needs To determine how well the project is progressing All of the above are valid reasons(your answer) Explanation:Larson & Gray Chapter 5 Page 127 Correct Q12) If you are developing a Project Management Plan.2 Page 78 Correct Q13) Which of these is not an approved Estimate Activity Durations technique? A. what is the correct estimating technique to use? A. but similar projects have been completed in the past. B. Analogous Estimating(your answer) Parametric Estimating Critical Path Estimation Critical Path Estimation . Always only provide a summary or high level plan Provide the level of detail based on the project complexity and application area(your answer) Always provide the maximum level of detail possible Include only the details your manager specifically requested Explanation:The level of detail required in a Project Management Plan would vary by project and would include only the details necessary for the project PMBOK Guide 4. Three Point Estimating Parametric Estimating Analogous Estimating Critical Path Estimation(your answer) Explanation:Analogous. B. D. parametric. C. E. D. C.Correct Q11) Reasons why estimating time and cost are important include all of the following except: A. and three-point estimating techniques are all accepted practices for determining the correct amount of time required for a portion of the project Correct Q14) If you are working on a project where there is no definite project detailed scope. D. how should you determine the level of detail to be included in the plan? A. B.
Which of the following estimation techniques would be least suited to his requirements. Budgetary. Optimistic. A. D. B. Ballpark. C. The three types of estimates on which three-point estimates are based are: Most likely. lines of code in software development) is known as: A. and Pessimistic. square footage in constructions. Order of Magnitude Best case scenario. as well as the underlying resource quantity and cost data built into the model. Top-down Estimating Bottom-up Estimating(your answer) Analogous Estimating Budgetary Estimating Explanation:Bottom-up estimating is a technique that can be applied only when there is a large amount of detail available to the project manager. C. pessimistic(your answer) Explanation:The accuracy of estimates can be improved by considering the amount of risk in the original estimate. unlikely Most likely. An Activity Duration can be created using a value derived from these three estimated durations. B. likely. Correct Q16) Martin is the project manager of a project that is in an early phase. C.Explanation:Analogous estimation relies on comparing a project to previous such projects that were similar in nature. He needs to estimate costs but finds that he has a limited amount of detailed informaiton about the project. Correct Q17) An estimating technique that uses a statistical relationship between historical data and other variables (for example. B. Expected scenario and current scenario Most likely. optimistic. D. Correct Q15) The accuracy of estimates can be improved by considering the amount of risk in the original estimate. The tree types of estimates on which three-point estimates are based are: A. Correct . Parametric Estimating(your answer) Analogous Estimating Bottom-up Estimating Historical Analysis Explanation:This technique is known as Parametric Estimating and can produce higher levels of accuracy depending on the sophistication. D.
Peter. average Explanation:Most likely. D. High probability. Budgetary -1 to +1%. You are not sure who to believe. worked on in 2006. Joe. Most likely Most likely. B. It is also generally less accurate.Q18) Lucy is the project manager involved in Estimate Costs process in the initiation phase of a project. However. Pessimistic(your answer) Best-case. C. If John needs to come up with a rough order of magnitude estimate. D. what tool or technique should he use? A. and pessimistic are factors used for three-point estimates. Definitive -50 to +50%. C. a project manger. based on this you have determined it will take how many hours to assemble the Ferris wheel. what would you expect the range of her estimate to be and what would you call such an estimate? A. Inc. which seems too long to you and quite pessimistic. Practice Standard for Project Estimating Chapter 2 Page 12 Correct Q19) Which of the following are the factors used for three-point estimates? A. with some junior programmers. B. -20 to +25%. . Correct Q20) John. This is very similar to a project that his colleague. Hence the Rough Order of Magnitude (ROM) estimate is usually prepared and has an accuracy range of -50 to +50%. Most dangerous. Given the limited detail available to her. B. Optimistic. Margie. this is something you have never done before and you are getting different opinions from others on how long it takes. who is the most experienced at this task is telling you it will take 8 hours. Parametric Estimating Bottom Up Estimating Three-point Estimate Analogous Estimating(your answer) Explanation:Analogous estimating is the correct choice. has been assigned a project where he must lead a group of inexperienced programmers in developing a software package that creates Material Safety Data Sheets (MSDS) for a chemical company. This technique relies on parameters from a similar previous project and is a gross value estimating approach. is new and has given you what you believe to be an optimistic estimate of 3 hours. Worst-case. Lastly. the level of information available will be limited. Rough Order of Magnitude(your answer) Explanation:During the initial stages of the project. so you decide to do a PERT estimation. D. Bill says it will take 10 hours. Low probability. optimistic. Mean Most like. PMBOK Guide 171-172 Correct Q21) You have run away and joined the carnival as a project manager and are in charge of constructing the Ferris wheel in each town the carnival visits. Order of Magnitude -10 to +10%. C. for Code Crashers.
C. but only a project has _________.5 hours(your answer) 8 hours 21 hours 7 hours Explanation:The PERT formula is Estimate = (Optimistic + (Most likely *4) + Pessimistic) / 6 Correct Q22) The transition from one phase to another within a project’s life cycle (e. PMBOK Guide Page 19 Correct Q23) A company that designs and manufactures a series of new bicycles each year may manage the effort more efficiently how? A. B. and the closing Process Group ends the cycle. PMBOK Guide Page 39 Correct . B. B. As separate design and engineering projects As separate UPC codes As a program(your answer) As independent product lines Explanation:A program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. D. 7. D.. C.g. PMBOK Guide Page 9 Correct Q24) Ongoing operations and a project both have Initiating Process. B. and is usually defined by. Technical transfer or hand-off(your answer) Deliverables Milestones Reviews Explanation:The transition from one phase to another within a project's life-cycle generally involves. C. C. some form of technical transfer or hand-off. D.A. Planning Processes Closing Processes(your answer) Controlling Processing Executing Processes Explanation:A project is a finite effort. design to manufacturing) is typically marked by: A. the Initiating Process Group starts the cycle. D. A.
B. D. Estimate Activity Workload Estimate Activity Input Activity Resource Requirements Estimate Activity Resources(your answer) Explanation:Estimate Activity Resources is the process of estimating the type and quantities of material. C. D. PMBOK Guide 6. PMBOK Guide Page 44 .3 Correct Q27) ______________ means developing in steps and continuing increments. C. A. D. Stakeholder risk tolerances Political climate Marketplace conditions All of the choices are correct(your answer) Explanation:All the three listed factors are enterprise environmental factors that influence a project's success. equipment or supplies required to perform each activity. PMBOK Guide Page 7 Correct Q28) Defining the requirements for a new product is what type of activity? A. equipment or supplies required to perform each activity is: A. B. people. D. Project Management Framework Correct Q26) Estimating the type and quantities of material. Enterprise environmental factors may enhance or constrain project management options. B. Progressive management Iterative elaboration Waterfall development Progressive elaboration(your answer) Explanation:Progressive elaboration is a characteristic of projects that allows a project management team to manage it to a greater level as the project evolves. Initiating process group(your answer) Planning process Scope management process Control process Explanation:The Initiating process group consists of the processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project of phase. C.Q25) Which of the following are enterprise environmental factors influence a project’s success: A. B. people. C.
whether extra work is still required and to decide whether the phase should be considered closed. The other options are not valid. A PMO’s sole responsibility and function is to directly manage shared resources. Correct Q32) Which of the following is not a characteristic or key feature of the Project Management Office? A. C. Each phase of the project is generally concluded with a review of the work accomplished and the deliverables to determine acceptance and whether the phase should be considered closed. B. D. D. (your answer) Each phase is generally concluded with a review of the work accomplished. Planning(your answer) Scope Planning Monitor and Controlling Executing Explanation:All activities listed are planning activities. PMBOK Page 43 Correct Q31) A project consists of multiple phases. C. Each phase is generally concluded with a review of the work accomplished and a decision authorizing the next phase of the project. (your answer) . Delivery management Earned value Work performance information(your answer) Baseline variance Explanation:Information on the status of the project activities being performed to accomplish the project work is routinely collected as part of the project management plan execution PMBOK Guide Page 87 Correct Q30) Collect Requirements. D. C. Each phase of the project is considered complete when the project sponsor signs off on that phase of the project. Formal phase completion does not include authorizing the next phase of the project. A phase is never considered complete until the end of the project when the entire project can be deemed complete. Develop Schedule and Perform Qualitative Risk analysis are all part of what process group? A. B. B.Correct Q29) Analysis of project spending against project budget and calculating the percentage complete of tasks currently underway are examples of: A. Explanation:A project phase is generally concluded with a review of the work accomplished and the deliverables to determine acceptance. Which of the following is a valid statement and applies to each phase of the project? A.
Explanation:A Project Management Office is an organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain. All of the above describe project estimating. effort. plan estimates. and durations. improve estimating processes(your answer) Rough order of magnitude. and procedures July also be part of the function of a PMO. B. budget estimate. create estimates. D. (your answer) Correct Q35) Which of the following is not considered in project estimating? A. The act of creating a quantitative assessment of the likely amount or outcome. manage estimates. C. C. manage estimates. Support functions such as training. C. and program management office. C. Practice Standard for Project Estimating Chapter 1 Page 2-3 Correct Q34) Project estimating is _____________________ A. resources. D. definitive estimates Initiate estimates. D. Prepare to estimate. software. create estimates. Correct Q33) What are the priniples underlying the life cycle of project estimating? A. Project durations Contingency reserves(your answer) Project resources Project effort Explanation:Practice Standard for Project Estimating Chapter 2 Page 10 Correct Q36) What is the role of the project manager in project estimating? . close estimates Plan-do-check-act Explanation:Principles underlying the life cycle of project estimating are prepare to estimate. program office. B. improve estimating processes. A PMO is an organization unit that centralizes and coordinates the management of projects under its domain. standardized policies.B. D. execute estimates. Is usually applied to project costs. Is vital to successful project execution as it is an integral part of project management practices. Other names for the PMO include: project office. B.
Scope of estimate Estimating assumptions Procurement audit information(your answer) Resources needed to estimate Explanation:Practice Standard for Project Estimating Create Project Estimating Approach 3. D. C. D. B. C. B. C. B. D. (your answer) The project estimating life-cycle The baseline used for tracking project estimates.1 Page 20 Correct . Project estimation change control process.3. Project Documents Experts Constraints and Assumptions Estimating Information(your answer) Explanation:Practice Standard for Project Estimating Page 18 Table 3-1 Correct Q39) Which of the following is not a project estimation approach factor that should be included in the project management plan? A. Aggregation of estimates Review and approve project estimates Accountable for the estimate (your answer) Creates estimates Explanation:Practice Standard for Project Estimating Table 2-1 Page 11 Correct Q37) Evolution of estimates refers to ______________________ A. B. Explanation:Practice Standard for Project Estimating Page 13 Correct Q38) Which of the following is not and input to the Create Proejct Estimating Approach A. C. D.A. A process where as more information is available estimates are refined through progressive elaboration.
C. D. Quality Performance Estimates(your answer) Cost Performance Estimates Schedule Baseline Estimates Resource Histogram Estimates Explanation:Practice Standard for Project Estimating Manage Estimates Page 36 Correct Q42) Which of the following is not an improve estimating process activity? A. B. Gather Estimating Information Assess estimating process Determine root causes and lessons learned Update Estimate forecasts(your answer) Develop action plan and share lessons learned Explanation:Practice Standard for Project Estimating Improve Estimating Process Page 48 Correct Q43) The stakeholders of a project typically have: A. In this scenario. Positive objectives Negative objectives Conflicting objectives(your answer) Similar objectives Explanation:Stakeholder expectation management is a key responsibility of a project manager as they often have conflicting objections. B. a your total project cost was determined to be between $4 million and $5 million. A. D. E.5 million. the buildings were considered were considered to be identical. C.Q40) You are in the planning stages of a facility. B. For the purposes of initial planning. What estimating activity are you using to create an estimate for your project. Ratio estimating Range estimating Parametric estimating Analogous estimating(your answer) Explanation:Practice Standard for Project Estimating Page 29-30 Correct Q41) Which of the following is not one of the baselines considered when managing estimates? A. which is identical to an existing senior care facility that was built with a final cost of $4. C. D. . D. B. C.
Time. quality. B. C.3 Time. B. D. and consumes both human and non human resources within certain constraints(your answer) . A. A series of non-related activities designed to accomplish single or multiple objectives A coordinated effort of related activities designed to accomplish a goal without a well-established point Cradle-to-grave activities which must be accomplished in less than one year and consume human resources Any undertaking with a definable time frame. and __________ constraints. A. and manpower availability Cost. C. and technical performance Explanation:PMBOK 1. C. well-defined objectives. risk. Project initiation Project management(your answer) Scope definition Life cycle management Explanation:PMBOK 1. cost. and quality Risk. quality. scope(your answer) Time. Correct Q45) ______________ means developing in steps and continuing increments. D. B. Correct Q46) The application of knowledge. D.Correct Q44) Project tradeoffs are usually made by comparing ____________. skills. B. cost. C. D. and scope are referred to as the three constraints that surround projects. tools and techniques in order to meet stakeholder requirements from a project is called: A. Progressive management Iterative elaboration Waterfall development Progressive elaboration(your answer) Explanation:Progressive elaboration is a characteristic of projects that allows a project management team to manage it to a greater level as the project evolves.3 This is the PMI definition of project management Correct Q47) A project can be defined as: A. __________.
C. Closing phase(your answer) Initial phase Intermediate phase Preliminary phase .5%. constraints. What phase is the project likely to be in? A.Explanation:PMBOK 1. D. are unique and usually multifunctional Correct Q48) What is the primary risk with including reserves or contingency allowances in your cost estimate? A. B. D. C. C. B. D. B. Effect Analysis Probabilistic Analysis Simulation(your answer) Theoretical Analysis Correct Q50) The cost estimates for a project are in the range of + / . consume resources.2 Projects have objectives. Understating the cost estimate Overstating the cost estimate(your answer) Tracking the funds Canceling your project Correct Q49) A technique that uses a project model to translate the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project is called: A.