Final - Quiz 2

Question 1

Which of the following would be considered a direct project cost?

Answer 1

Labor
Material
Equipment

Question 2

According to the textbook, good cost estimates are best obtained using a ____ approach

Answer 2

bottom-up

Question 3

The lowest level in WBS must be easily defined as ______

Answer 3

work unit

Question 4

_____ is a technique for estimating the value of the project by accounting for the time value of money

Answer 4

NPV

Question 5

A _______ is a point in the life of a project when a significant piece of work has been accomplished?

Answer 5

milestone

Question 6

[True or False] A clear definition of a work unit leads to more accurate estimates for resources and ultimately a more reliable assessment of outcome

Answer 6

true

Question 7

[True or False] Direct tangible costs can be easily defined and measured while indirect intangible costs cannot be easily defined and measured.

Answer 7

true

Question 8

What is phase estimating? Why is phase estimating beneficial for project managers?

Answer 8

Project development life cycle. (Initiation, planning, development, implementation, closure)