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5.00 Review Quiz

Total questions: 16

Worksheet time: 8mins

Name
Class
Date
1.

Hollie is managing a bathroom renovation project that has a budget of $1,500 and is 40% complete. Hollie planned to spend $500 a month on the three-month project. Hollie is evaluating the status of the project at the end of the first month. What is the project's planned value?

a)

$500

b)

$600

c)

$1000

d)

$1500

2.

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?

a)

forcasting

b)

performance review

c)

cost management plan

d)

earned value management

3.

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. Hollie is evaluating the status of the project at the end of the first month. What is the project's budget at completion?

a)

$500

b)

$600

c)

$1000

d)

$1500

4.

The project manager would like to show the rate at which the project is progressing compared to what was planned. What indicator should she reference?

a)

Gantt Chart

b)

schedule variance

c)

variance report

d)

schedule perfomance index

5.

Hollie is managing a bathroom renovation project. The project has a budget of $1,500 and is 40% complete. The project is a three-month project and Hollie planned to spend $500 a month on the project. Hollie is evaluating the status of the project at the end of the first month. What is the project's earned value?

a)

$500

b)

$600

c)

$1000

d)

$1500

6.

The project manager would like to determine the aggregate estimated costs from the individual work packages to create a detailed breakdown of projected costs. In which process is the project manager most likely participating

a)

control costs

b)

estimate costs

c)

determine budget

d)

earned value management

7.

A project manager has a number of experts approximating the expense of completing the project's activities. This process is known as:

a)

determining the budget

b)

contolling costs

c)

analogous estimating

d)

estimating costs

8.

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?

a)

$500

b)

$600

c)

$1000

d)

$1500

9.

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

a)

actual cost

b)

cost variance

c)

earned value management

d)

planned value

10.

Ed is adding a home theater room to his home. The project should take five days and cost $2,500 to complete. At the end of the second day, the project is 50% complete. What is the project's earned value at the end of the second day?

a)

$500

b)

$750

c)

$1000

d)

$1250

11.

Mary sets a target for the project budget during the planning phase. While executing the project, she checks to make sure she is within budget. Mary determines that she needs to refine the scope of the project and change her timeline and costs for the project activities. Mary is using which tool to manage the cost of this project?

a)

cost performance baseline

b)

cost of quality

c)

funding limit reconciliation

d)

vendor bid analysis

12.

Which metric should Carol use to determine her project's future cost efficiency?

a)

cost perfomance index

b)

schedule variance index

c)

schedule performance index

d)

to-complete performance index

13.

Tucker is the construction project manager for a new school building. With six months left on the project, he is able to determine whether the project is on target by using:

a)

forecasting

b)

pefomance review

c)

the cost management plan

d)

the earned value management

14.

Liz looks at the activity costs that must be incurred to complete all project deliverables. Liz is determining the:

a)

cost of quality

b)

historical relationships

c)

project funding requirements

d)

vender bid analysis

15.

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

a)

cost performance baseline

b)

historical relationships

c)

project funding requirements

d)

vending bid analysis

16.

Jenna's team is creating a new product. A deliverable for the project consists of building a website for the product. Jenna announces that she will be outsourcing this deliverable. Company A estimated a cost of $60,000 with completion in 3 months, Company B estimated a cost of $100,000 with completion in 2 months, and Company C estimated a cost of $50,000 with completion in 4 months. Jenna averages the three proposed costs and determines that she will need to put $70,000 into the project budget for the website deliverable. What cost estimating technique did Jenna use?

a)

cost performance baseline

b)

historical relationships

c)

project funding requirements

d)

vendor bid analysis