Chapter 7

Question 1

True or False. Project Cost Management is primarily concerned with the cost of the resources needed to complete project activities.

Answer 1

True.

Question 2

Which of the following statements is correct?

A) If the amount of earned schedule is greater than 0, then the project is considered ahead of schedule.
B) If the amount of earned schedule is greater than 0, then the project is considered behind schedule.
C) If the amount of earned schedule is less than 0, then the project is considered ahead of schedule.
D) If the amount of earned schedule is less than 0, then the project is considered behind schedule.

Answer 2

A) If the amount of earned schedule is greater than 0, then the project is considered ahead of schedule.

Question 3

A project in the initiation phase may have a rough order of magnitude (ROM) estimate in the range of _____.

A) -5% to +10%
B) -25% to +75%
C) -30% to +25%
D) -3% to +15%

Answer 3

B) -25% to +75%

Question 4

When more information is know, definitive estimates could narrow the range of accuracy for rough or of magnitude (ROM) to ____.

A) -5% to +10%
B) -25% to +75%
C) -30% to +25%
D) -3% to +15%

Answer 4

A) -5% to +10%

Question 5

What is the formula of three point estimating for Beta distribution?

Answer 5

cE = (cO + 4cM + cP) / 6