Project Management Unit 5

Front

What cost estimating technique did Felicia use if she averages three quoted costs and determines that she will need to put an extra $20,000 into the project budget?

Back

Vendor bid analysis

Front

Liz looks at the activity costs that must be incurred to complete all project deliverables. Liz is determining the: vendor bid analysis, cost of quality, project funding requirements, historical relationships

Back

project funding requirements

Front

Susie is using which tool to manage the cost of this project?

Back

funding limit reconciliation

Front

Which metric should Carol use to determine her project’s future cost efficiency? Options: cost performance index, to-complete performance index, schedule performance index, schedule variance index

Back

to-complete performance index

Front

Glenn is determining the project cost baseline by calculating the costs approved for each of the project’s work packages. Glenn is determining the:

Back

planned value

Front

Macy is managing a bedroom renovation project with a budget of $1,500, which is 40% complete after one month. What is the project’s earned value?

Back

$600

Front

What is the project’s planned value for a bedroom renovation project with a budget of $1,500, 40% complete, and planned spending of $500 a month at the end of the first month?

Back

$500

Front

Tucker is the construction project manager for a new school building. He measures the project’s performance and progress by looking at the planned value, earned value, and actual cost. Which method is Tucker using to determine the project performance?

Back

earned value management

Front

Hollie is managing a bathroom renovation project that has a budget of $1,500 and is 40% complete. She planned to spend $500 a month on the three-month project. What is the project’s budget at completion?

Back

$500

Front

Emily is adding a garden to her yard. She estimates the work to build a raised garden will be $250 per day and will take six days to complete. What is the project’s budget at completion?

Back

$1500