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8/15/23, 8:57 PM Final: Attempt review
Started on Tuesday, 15 August 2023, 7:15 PM

State Finished
Completed on Tuesday, 15 August 2023, 8:11 PM
Time taken 56 mins 2 secs
Marks 46.00/60.00
Grade 76.67 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
A company is evaluating three consulting companies to find a consultant to perform professional services. They request information on how
the three consulting companies allocate fringe benefits to their clients. What type of cost is the company asking about?
a. Direct
b. Fixed
c. Variable
d. Indirect 
The correct answer is: Indirect
Question 2
Correct
A date given in the contract (Statement of Work), will essentially cause a
a. Schedule Conflict in Project Schedule

b. Lead or Lag in Project Schedule
c. Date Constraint in project schedule 
d. Milestone in Project Schedule
The correct answer is: Date Constraint in project schedule
Question 3
Correct
All of the following items describe an aspect of life cycle costing EXCEPT:
a. Project managers may need to consider product disposition costs to calculate total life cycle cost.
b. Life cycle cost only includes the project cost from initiating through closing. 
c. Life cycle cost includes the cost of creating the project and using the result.
d. Many project selection decisions are made based upon life cycle cost.
The correct answer is: Life cycle cost only includes the project cost from initiating through closing.
https://moodle.cestarcollege.com/moodle/mod/quiz/review.php?attempt=933720&cmid=1394592&showall=1 1/21
Question 4
Correct
All of the following statements are true regarding the Plan Resource Management process except for which one?
a. One of the Human Resource Management outputs includes project organization charts that show the project’s reporting
relationships.
b. The staffing management plan created in this process describes how and when resources will be acquired and released.
c. Plan Resource Management involves determining roles and responsibilities.
d. A RAM (or RACI chart) is an output of this process that allows you to see all the people assigned to an activity. 
The correct answer is: A RAM (or RACI chart) is an output of this process that allows you to see all the people assigned to an activity.
Question 5
Incorrect
All the following are components of estimate cost process EXCEPT:
a. Mathematical analysis.
b. Vendor bid analysis.
c. Cost of Quality. 
d. Analogous estimating.
The correct answer is: Mathematical analysis.
Question 6
Correct
A modification of a logical relationship that allows an acceleration of the successor activity is called:
a. Milestone
b. Lag
c. Fast tracking
d. Lead 
The correct answer is: Lead
Question 7
Correct
An activity has an ES of 15 and an LS of 10, therefore the activity has:
a. A duration of 5 days
b. A positive float
c. 5 days contingency
d. A negative float 
The correct answer is: A negative float
Question 8
Correct
A new store development project requires the purchase of various equipment, machinery, and furniture. The department responsible for the
development recently centralized its external purchase processes and standardized its new estimating costs policies and templates. In which
document these new estimate costs policies and templates should be found?
a. Organizational process assets 

b. Project scope statement
c. Project WBS
d. Basis of project estimating techniques
The correct answer is: Organizational process assets
Question 9
Correct
A project manager needs to ensure that the cumulative amount of cash coming into the project meets or exceeds the demands for paying
cash out in every month. To meet this need, he needs to prepare:
a. Time phased budget 

b. Top-down estimate
c. Schedule Baseline
d. Cost Baseline
The correct answer is: Time phased budget
Question 10
Incorrect
A 'range of three points” is a concept in activity duration estimating described as:
a. A quantitative assessment of the likely number of work periods required completing an activity.
b. Weighted value, sometimes called expected time. 
c. Smoothing or leveling the peaks and valleys of resources used in the project.
d. A collaborative approach to include all opinions.
The correct answer is: A quantitative assessment of the likely number of work periods required completing an activity.
Question 11
Correct
A responsibility assignment matrix includes which two data points?
a. Activity and resource 

b. Resource and usage each month
c. Resource and time estimate
d. Activity and calendar date
The correct answer is: Activity and resource
Question 12
Correct
A team member who doesn't have the required skills or knowledge on cost estimation, which is his current responsibility, was assigned to a
team. Who is responsible for ensuring that he receives the proper training on cost estimation methods?
a. Functional manager
b. Sponsor
c. Project manager 
d. Training coordinator
The correct answer is: Project manager
Question 13
Correct
Basis of Estimates may not include:
a. confidence level of the high-level estimate 

b. any known constraints.
c. range of possible estimates
d. assumptions made,
The correct answer is: confidence level of the high-level estimate
Question 14
Incorrect
Contingency Reserves May not be calculated as:
a. using quantitative analysis method.

b. determined by the project manager
c. a percentage of the estimated cost 
d. a fixed number
The correct answer is: determined by the project manager
Question 15
Correct
Cost baseline does not include:
a. Activity Contingency Reserve

b. Management Reserve 
c. Activity Cost Estimate
d. Work Package Contingency Reserve
The correct answer is: Management Reserve
Question 16
Correct
Cost Baseline is typically displayed in the form of a/an
a. positive curve
b. rising curve
c. S curve 
d. X-Y curve
The correct answer is: S curve
Question 17
Correct
Cost Estimates may be updated because during the Cost Estimates process,
a. any of the other three reasons listed here is possible 

b. existing assumptions or constraints may be revisited and changed.
c. new constraints may be identified,
d. new assumptions may be made,
The correct answer is: any of the other three reasons listed here is possible
Question 18
Correct
Costs that do not change with the level of project activity are known as :
a. Fixed costs. 
b. Direct costs.
c. Indirect Cost
d. Variable Cost
The correct answer is: Fixed costs.
Question 19
Correct
Cost Tracking System can be developed using
a. Electronic Spreadsheet
b. Any of the tools listed here. 
c. Organisations Financial Control system
d. MS Project
The correct answer is: Any of the tools listed here.
Question 20
Incorrect
Dummy activities are can be included a network diagram during which of the following method?
a. Critical Chain Method (CCM)

b. Precedence Diagramming Method (PDM) 
c. Critical Path Method (CPM)
d. Activity-on-arrow (AOA)
The correct answer is: Critical Chain Method (CCM)
Question 21
Incorrect
During planning the project manager estimated the time needed for each activity and then added all the estimates together to come up with
a total project estimate and commits to this duration for the project. What is wrong in this scenario?
a. The team should have created the estimate and a network diagram was not used
b. The PM should have used some kind of estimation tool or software like MS Project 
c. The project estimate should agree with the customer's required completion date
d. The estimated duration is too long and should have been created by management
The correct answer is: The team should have created the estimate and a network diagram was not used
Question 22
Incorrect
Early in a project when very little detail is known about a project, to get a quick rough estimate we can use:
a. analogous estimate 
b. bottom-up estimate
c. parametric estimate
d. pert estimate
The correct answer is: bottom-up estimate
Question 23
Correct
Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be used. You want a
form of expert judgment, but the sponsor argues for analogous estimating. It would be BEST to:
a. Agree to analogous estimating as it is a form of expert judgment. 

b. Determine why the sponsor wants such an accurate estimate.
c. Try to convince the sponsor to allow expert judgment because it is typically more accurate.
d. Suggest life-cycle costing as a compromise.
The correct answer is: Agree to analogous estimating as it is a form of expert judgment.
Question 24
Correct
If a project has three critical paths, which of the following statements describes how this impacts the project most closely?
a. It is easier to control because more activities are on the critical path

b. It requires more resources
c. It adds more likely that this project will suffer with Budget over runs
d. It increases the risk 
The correct answer is: It increases the risk
Question 25
Correct
If funds remain unused from the contingency provision of any work package, this
a. Can be used for another work package

b. Must be lapsed and not used for any other purpose 
c. Should be used for team member bonus
d. Should be used by the PM for giving customer more than the scope
The correct answer is: Must be lapsed and not used for any other purpose
Question 26
Correct
If you have decided to estimate your project using one time estimate per activity, you are using which method?
a. Program evaluation review Technique (PERT)

b. Critical Path Method (CPM) 
c. Preceding Diagramming Method (PDM)
d. Work Break down Structure (WBS)
The correct answer is: Critical Path Method (CPM)
Question 27
Correct
In order to ensure that project team members understand in detail what work is required to be completed, you create a:
a. Work Performance Report

b. Project Charter
c. Scope of work description for each activity in sufficient detail 
d. Stakeholder Register
The correct answer is: Scope of work description for each activity in sufficient detail
Question 28
Correct
It uses a statistical relationship between historical data and other variables (e.g., square footage in construction) to calculate an estimate for
activity duration.
a. The precedence diagramming method (PDM);

b. Parametric estimating 
c. Analogous estimating
d. Milestone
e. Activity Attributes
The correct answer is: Parametric estimating
Question 29
Correct
It uses parameters from a previous, similar project, such as duration, budget, size, weight, and complexity, as the basis for estimating the
same parameter or measure for a future project
a. Milestone
b. The precedence diagramming method (PDM)
c. Parametric estimating
d. Activity Attributes
e. Analogous estimating 
The correct answer is: Analogous estimating
Question 30
Correct
Project Performance is evaluated on the basis of
a. non-withdrawal from Management Reserve

b. non-withdrawal from Contingency Reserve
c. Project Budget
d. Cost Baseline 
The correct answer is: Cost Baseline
Question 31
Correct
Project Schedule Management comprises the following major processes:
a. Plan Schedule Management, Define Activities, Sequence Activities, Develop Network Diagram, Develop Schedule and Control
Schedule
b. Plan Schedule Management, Define Activities, Develop Work Breakdown Structure (WBS), Estimate Activity, Develop Schedule and
Control Schedule
c. Plan Schedule Management, Define Activities, Sequence Activities, Develop Network Diagram, Establish Critical Path and Control
Schedule
d. Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity, Develop Schedule and Control Schedule 
The correct answer is: Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity, Develop Schedule and Control
Schedule
Question 32
Incorrect
Suppose you have a project with 4 activities. Activity A can start immediately and has an estimated duration of 1 Week. Activity B can start
after Activity A is completed and has an estimated duration of 4 weeks. Activity C can start after Activity B is completed and has an estimated
duration of 5 Weeks. Activity D can start after Activity A is completed and must be completed when Activity C is completed with an estimated
duration of 8 Weeks. What is the critical path of the project?
a. Activity A, Activity D
b. Activity A, Activity D, Activity C
c. Activity A, Activity B, Activity C
d. Activity A, Activity B, Activity C, Activity D 
The correct answer is: Activity A, Activity B, Activity C
Question 33
Incorrect
The approved time-phased project budget, excluding any management reserves, which can be changed only through formal change control
procedures and is used as a basis of comparing actual results, is called a ____:
a. control account. 
b. cost baseline.
c. cost benchmark.
d. measurement baseline.
The correct answer is: cost baseline.
Question 34
Correct
The chart that tracks the work that remains to be completed in the iteration backlog can be called as
a. Burndown chart 
b. Burnup Chart
c. Pending work chart
d. Completed task chart
The correct answer is: Burndown chart
Question 35
Correct
The key benefit of this process is that it defines the logical sequence of work to obtain the greatest efficiency given all project constraints.
a. Sequence Activities 
b. Develop Schedule
c. Define Activities
d. Plan Schedule Management
e. Estimate Activity Durations
The correct answer is: Sequence Activities
Question 36
Incorrect
The number of labor units required to complete a schedule activity or work breakdown structure component, often expressed in hours, days,
or weeks can be termed as
a. Efforts
b. Time
c. Duration
d. Labor 
The correct answer is: Efforts
Question 37
Correct
The process of establishing the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the
project schedule.
a. Define Activities
b. Develop Schedule
c. Sequence Activities
d. Plan Schedule Management 
e. Estimate Activity Durations
The correct answer is: Plan Schedule Management
Question 38
Correct
The process of identifying and documenting the specific actions to be performed to produce the project deliverables.
a. Estimate Activity Durations

b. Plan Schedule Management
c. Develop Schedule
d. Sequence Activities
e. Define Activities 
The correct answer is: Define Activities
Question 39
Correct
The project team identifies a dependency where the design of the product is required before manufacturing can start. This is a dependency.
a. Discretionary
b. External
c. Mandatory 
d. Scope
The correct answer is: Mandatory
Question 40
Correct
The time or money set aside in schedule or cost base line to cover the unknown unknowns can be referred as which of the following
Terminology?
a. Project Risk Reserve

b. Emergency Fund
c. Contingency Reserve
d. Management Reserve 
Question 41
Correct
Time or Money allocated in the schedule or cost baseline for known risks with active response strategies can be referred as which of the
following terminology?
a. Risk Management Reserve

b. Contingency Reserve 
c. Management Reserve
d. Project Reserve
The correct answer is: Contingency Reserve
Question 42
Correct
Tools and techniques used in the process of Control Schedule includes:
a. Data analysis, Critical path method, Project management information system, Resource optimization, Leads and lags and 
Schedule compression.
b. Project network diagram, schedule change control system, performance measurement, schedule updates
c. Expert judgment, additional planning, performance reports, project management software
d. Schedule change control system, variance analysis, schedule comparison bar charts, progress reporting
The correct answer is: Data analysis, Critical path method, Project management information system, Resource optimization, Leads and lags
and Schedule compression.
Question 43
Correct
Total funding requirements and periodic funding requirements (e.g., quarterly, annually) are derived from
a. the Management Reserve

b. the project charter
c. Approved Scope Statement
d. the cost baseline. 
The correct answer is: the cost baseline.
Question 44
Correct
What does a staffing management plan describe?
a. How resources will be leveled

b. What resources will be used on the project
c. What skills are necessary on the project
d. When and how resources will be added to the project 
The correct answer is: When and how resources will be added to the project
Question 45
Incorrect
What is the right terminology for In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule
activity can be started?
a. Early Finish 
b. Late Finish
c. Early Start
d. Late Start
The correct answer is: Early Start
Question 46
Correct
What is used in the Project Cost Management Knowledge Area to monitor and control project costs?
a. Control Account (CA) 

b. Account Monitor
c. Project monitor
d. Value Account
The correct answer is: Control Account (CA)
Question 47
Correct
What items should be considered when estimating the duration of an activity?
a. Work Performance Information.

b. Historical results from similar projects. 
c. Inspection.
d. Cost of Quality.
The correct answer is: Historical results from similar projects.
Question 48
Incorrect
When scheduling your project, time and cost are not as important as the number of resources used each month, you should?
a. Perform resource leveling

b. Crash the project 
c. Fast track the project
d. Perform a Monte Carlo analysis
The correct answer is: Perform resource leveling
Question 49
Correct
Which estimating technique uses historical data from a similar project as a starting point for creating a time or cost estimate?
a. parametric estimating
b. analogous estimating 
c. Monte Carlo estimating
d. bottom-up estimating
The correct answer is: analogous estimating
Question 50
Correct
Which of the following components of the approved project budget can not be used by the project manager without going to the
sponsoring organisation’s management.
a. Work Package Contingency Reserve

b. Activity Contingency Reserve
c. Management Reserve 
d. Activity Cost Estimate
Question 51
Correct
Which of the following costs will not be considered in the Human Resource Management Costs?
a. Cost of Firing Team Members

b. Cost of Training Team Members
c. Cost of Hiring Team Members
d. Cost of monitoring Team Members by the Project Manager 
The correct answer is: Cost of monitoring Team Members by the Project Manager
Question 52
Correct
Which of the following is not a characteristic of Rolling Wave Planning
a. It is a form of progressive elaboration.

b. Work can exist at various levels of detail depending on where it is in the project life cycle.
c. Plan must be prepared in complete detail at the beginning of the project. 
d. An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the
future is planned at a higher level.
The correct answer is: Plan must be prepared in complete detail at the beginning of the project.
Question 53
Correct
Which of the following is the most accurate method of cost estimation?
a. Top Down
b. Bottom Up 
c. Approximate
d. Preliminary
The correct answer is: Bottom Up
Question 54
Correct
Which of the following statement is true:
a. Top Down method is the most suited for activity estimate

b. Parametric estimating requires less information and time than analogous estimating.
c. Pert is the most preferred estimation method in the early stages of Cost estimation
d. Analogous estimating requires less information and time than Parametric estimating 
The correct answer is: Analogous estimating requires less information and time than Parametric estimating
Question 55
Correct
Which of the following statements is not true about Contingency Reserves:
a. It is not a part of funding requirements. 

b. Contingency reserves are to allow for cost uncertainty.
c. Contingency should be clearly identified in cost documentation.
d. As more precise information about the project becomes available, the contingency reserve may be used, reduced, or eliminated.
The correct answer is: It is not a part of funding requirements.
Question 56
Incorrect
While Managing a project, You have decided to use Analogues estimating technique. Which of the following is correct about this technique?
a. Calculates multiple durations with different assumptions. 

b. Bottom-up estimating.
c. Used when there is an abundance of detailed information about the project.
d. A form of expert judgment.
The correct answer is: A form of expert judgment.
Question 57
Correct
You are having difficulty estimating the cost of a project. Which of the following BEST describes the most probable cause of your difficulty?
a. Unavailability of desired resources

b. Difficulty in scheduling
c. Inadequate scope definition 
d. Lack of adequate project budget
The correct answer is: Inadequate scope definition
Question 58
Correct
You have been assigned as the project manager on a new software development project. The organization uses a weak matrix structure and
you must justify every single expense. You need to purchase 100 computers over the project life cycle to do the project. This is an example of:
a. Fixed cost. 
b. Cost of low value.
c. Indirect cost
d. One time cost.
The correct answer is: Fixed cost.
Question 59
Incorrect
Your client insists that the project must be completed sooner than the schedule indicates. As project manager you have considered the costs
associated with crashing each activity, however it would be more complete to consider:
a. The phase the activities are due to occur in.

b. Your client's reasoning behind the request.
c. The risk impact of crashing each activity.
d. The team's opinion of which activities to crash. 
The correct answer is: The risk impact of crashing each activity.
Question 60
Incorrect
Your company is undergoing a change in ownership and the new owners are looking at the total cost of all project initiatives. Which of the
following would provide the BEST indicator to the new owners?
a. Project budgets
b. Project life-cycle costs 
c. Project costs based on bottom up estimates
d. Project costs based on analogous estimates
The correct answer is: Project budgets

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8/15/23, 8:57 PM Final: Attempt review

Started on Tuesday, 15 August 2023, 7:15 PM

Mark 1.00 out of 1.00

The correct answer is: Indirect

Mark 1.00 out of 1.00

A date given in the contract (Statement of Work), will essentially cause a

a. Schedule Conflict in Project Schedule

The correct answer is: Date Constraint in project schedule

Mark 1.00 out of 1.00

Mark 1.00 out of 1.00

Mark 0.00 out of 1.00

All the following are components of estimate cost process EXCEPT:

The correct answer is: Mathematical analysis.

Mark 1.00 out of 1.00

The correct answer is: Lead

Mark 1.00 out of 1.00

An activity has an ES of 15 and an LS of 10, therefore the activity has:

The correct answer is: A negative float

Mark 1.00 out of 1.00

a. Organizational process assets 

The correct answer is: Organizational process assets

Mark 1.00 out of 1.00

a. Time phased budget 

The correct answer is: Time phased budget

Mark 0.00 out of 1.00

A 'range of three points” is a concept in activity duration estimating described as:

Mark 1.00 out of 1.00

A responsibility assignment matrix includes which two data points?

a. Activity and resource 

The correct answer is: Activity and resource

Mark 1.00 out of 1.00

The correct answer is: Project manager

Mark 1.00 out of 1.00

Basis of Estimates may not include:

a. confidence level of the high-level estimate 

The correct answer is: confidence level of the high-level estimate

Mark 0.00 out of 1.00

Contingency Reserves May not be calculated as:

a. using quantitative analysis method.

The correct answer is: determined by the project manager

Mark 1.00 out of 1.00

Cost baseline does not include:

a. Activity Contingency Reserve

The correct answer is: Management Reserve

Mark 1.00 out of 1.00

Cost Baseline is typically displayed in the form of a/an

The correct answer is: S curve

Mark 1.00 out of 1.00

a. any of the other three reasons listed here is possible 

Mark 1.00 out of 1.00

The correct answer is: Fixed costs.

Mark 1.00 out of 1.00

Cost Tracking System can be developed using

The correct answer is: Any of the tools listed here.

Mark 0.00 out of 1.00

a. Critical Chain Method (CCM)

The correct answer is: Critical Chain Method (CCM)

Mark 0.00 out of 1.00

Mark 0.00 out of 1.00

The correct answer is: bottom-up estimate