10 - Cost, Changes, Quality

What is the process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled?

• Planning Cost Management

• Estimate Costs

• Determine Budget

• Change Management

What is the process of developing an approximation of the cost of resources needed to complete project work?

• Planning Cost Management

• Estimate Costs

• Determine Budget

• Change Management

What is project budget?

• Total funds approved for the implementation of the project

• Total expenses approved for the implementation of the project

• Total income generated by the project

• Total funds actually received by the project

What are the expenses necessary to run the facility and make work actually doable?

• Direct costs

• Indirect costs

• Fixed costs

• Variable costs

What are the costs related to the production of the project outputs?

• Direct costs

• Indirect costs

• Fixed costs

• Variable costs

What is the main goal of the change management process?

• To ensure all stakeholders agree on the change

• To increase project costs

• To avoid project delays

• To reduce project scope

What should always be in writing according to the change management process?

• Change request

• Project plan

• Budget report

• Meeting minutes

What is Quality?

• A degree which project fulfills the project requirements.

• A measure of project success based on time and budget.

• The satisfaction of stakeholders with the project outcome.

• The ability to meet project deadlines.

What does Project Quality Management include?

• Processes for incorporating the organization’s quality policy.

• Only the management of project deliverables.

• A focus solely on customer satisfaction.

• The documentation of project requirements.

What is the content of the Quality Management Plan?

• Quality standards, objectives, roles, and responsibilities.

• Only the quality control activities planned for the project.

• A list of all project stakeholders.

• The budget and schedule of the project.