___ should be made of all cost factors so as to reflect on all relevant investment and operational costs of the project including contingencies.

___ should be made of all cost factors so as to reflect on all relevant investment and 

operational costs of the project including contingencies.
by

1 Answer

Answer :

Ans. Realistic estimates
by

Related questions

Ahmed is actively initiating a project, so he plans to invite all relevant internal and external stakeholders including sponsors, customers, project teams, etc. for a kick-off meeting. To ensure all of them are covered in the stakeholder register, which document is the most helpful for Ahmed to look at? Select one: a. Project team activities b. Scope statement c. Project charter d. Work packages e. Project funding agents

Description : Ahmed is actively initiating a project, so he plans to invite all relevant  internal and external stakeholders including sponsors, customers, project  teams, etc. for a kick-off meeting. To ensure all ... b. Scope statement c. Project charter d. Work packages e. Project funding agents

Last Answer : c. Project charter

Cost budgeting can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project 2. The process of assembling and predicting costs of a project over its life cycle 3. The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on- going basis

Description : Cost budgeting can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities,  uncertainties, and inflation that  could ... of gathering, accumulating, analyzing, reporting, and managing the costs on an on- going basis

Last Answer : 3. The process of establishing budgets, standards, and a monitoring system by which the  investment cost of the project can be measured and managed

When using a function point estimation worksheet, there are 14 factors that impact the complexity of a project. These factors include _____. a. data communications, time tradeoffs, and estimated effort b. end-user efficiency, data communications, and reusability c. performance and programming language d. reports printed and PCA e. x-rays, extensibility, and operational conversion

Description : When using a function point estimation worksheet, there are 14 factors that impact the complexity of a project. These factors include _____.  a. data communications, time tradeoffs, and ... programming language  d. reports printed and PCA  e. x-rays, extensibility, and operational conversion

Last Answer : b. end-user efficiency, data communications, and reusability

Which of the following is least likely to be part of the calculation of the terminal- year incremental net cash flow for an energy-related expansion project? A. An initial working capital investment is now returned as an additional cash inflow B. Disposal/reclamation costs C. Capitalized expenditures D. Salvage value of any sold or disposed assets

Description : Which of the following is least likely to be part of the calculation of the terminal- year incremental net cash flow for an energy-related expansion project? A. An initial working capital ... Disposal/reclamation costs C. Capitalized expenditures D. Salvage value of any sold or disposed assets

Last Answer : D. Salvage value of any sold or disposed assets

Pick up the correct statement from the following: (A) The estimated value of the work excluding the amount for contingencies, work charged establishment, tool and plants, is called work value (B) The actual expenditure involved to complete a work including incidental, establishment and travelling charges, is called actual cost (C) The formal acceptance by the administrative department for incurring an expenditure on the work, is called administrative approval (D) All the above

Description : Pick up the correct statement from the following: (A) The estimated value of the work excluding the amount for contingencies, work charged establishment, tool and plants, is called work value (B ... for incurring an expenditure on the work, is called administrative approval (D) All the above

Last Answer : (D) All the above

The Three attributes of project risk are _________, ___________ and ___________. 1. What might happen, who it happens to, and how much will it cost 2. Notification, frequency of5. Risk event, probability occurrence, the amount at stake relevant events, probability of occurrence 3. Risk cost, quality, control 4. Quality, risk planning, total number of risk events

Description : The Three attributes of project risk are _________, ___________ and ___________. 1. What might happen, who it happens to, and how much will it cost  2. Notification, frequency of relevant events, ... planning, total number of risk events 5. Risk event, probability occurrence, the amount at stake

Last Answer : 5. Risk event, probability occurrence, the amount at stake

The basic capital budgeting principles involved in determining relevant after-tax incremental operating cash flows require us to . A. include sunk costs, but ignore opportunity costs B. include opportunity costs, but ignore sunk costs C. ignore both opportunity costs and sunk costs D. include both opportunity and sunk costs

Description : The basic capital budgeting principles involved in determining relevant after-tax incremental operating cash flows require us to . A. include sunk costs, but ignore opportunity costs B. include ... C. ignore both opportunity costs and sunk costs D. include both opportunity and sunk costs

Last Answer : B. include opportunity costs, but ignore sunk costs

The justification for the investment to be made in a project is documented in the: a. Cost Breakdown Structure. b. procurement strategy. c. business case. d. Project Management Plan.

Description : The justification for the investment to be made in a project is documented in the: a. Cost Breakdown Structure. b. procurement strategy. c. business case. d. Project Management Plan.

Last Answer : c. business case.

The justification for the investment to be made in a project is documented in the: a. Cost Breakdown Structure. b. procurement strategy. c. business case. d. Project Management Plan

Description : The justification for the investment to be made in a project is documented in the:  a. Cost Breakdown Structure.  b. procurement strategy.  c. business case.  d. Project Management Plan

Last Answer : c. business case.

Why are changes to the project scope necessary? Select one: a. To understand reports b. To reflect new information c. To begin planning the project d. To teach team members what they need to know about their jobs e. To establish a trusting project culture

Description : Why are changes to the project scope necessary? Select one: a. To understand reports b. To reflect new information c. To begin planning the project d. To teach team members what they need to know about their jobs e. To establish a trusting project culture

Last Answer : b. To reflect new information

After the celebration of the successful milestone completion, a project manager will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the next milestone. b. Continue to follow the exact same project plan that helped the team achieve the milestone. c. Allow the team to reflect on finding new ways of approaching the project work. d. Select an upcoming key event and designate it as the next milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Description : After the celebration of the successful milestone completion, a project manager  will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the ... milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Last Answer : c. Allow the team to reflect on finding new ways of approaching the project work.

. A key aspect of managing a project involves: a. definingb. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives which operational systems to put in place.

Description : . A key aspect of managing a project involves: a. defining which operational systems to put in place. b. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives

Last Answer : d. planning to achieve defined objectives.

Which risk is connected to the circumstance outside the project that may influence the scope of work and the performance of the organization? A.Operational Risk B.Financial Risk C.Strategic Risk D.Contextual Risk

Description : Which risk is connected to the circumstance outside the project that may influence the  scope of work and the performance of the organization?  A.Operational Risk  B.Financial Risk  C.Strategic Risk  D.Contextual Risk

Last Answer : D.Contextual Risk

A key aspect of managing a project involves: a. defining which operational systems to put in place. b. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives.

Description : A key aspect of managing a project involves:  a. defining which operational systems to put in place. b. identifying routine tasks.  c. ensuring ongoing operations are maintained.  d. planning to achieve defined objectives.

Last Answer : d. planning to achieve defined objectives.

A communication management plan identifies the relevant information that should be communicated to: a. the project team. b. the project stakeholders. c. the project board. d. the project sponsor.

Description : A communication management plan identifies the relevant information that should be communicated to: a. the project team. b. the project stakeholders. c. the project board. d. the project sponsor.

Last Answer : b. the project stakeholders.

A communication management plan identifies the relevant information that should be communicated to: a. the project team. b. the project stakeholders. c. the project board.d. the project sponsor.

Description : A communication management plan identifies the relevant information that should be  communicated to:  a. the project team.  b. the project stakeholders.  c. the project board. d. the project sponsor.

Last Answer : b. the project stakeholders.

Which of the following are parameters involved in computing the total cost of a development project? a) Hardware and costs b) Effort costs c) Travel and training costs d) All of the mentioned

Description : Which of the following are parameters involved in  computing the total cost of a development project? a) Hardware and costs b) Effort costs c) Travel and training costs d) All of the mentioned

Last Answer : d) All of the mentioned

In Project crashing, rent and overheads are treated as A.Significant Cost B.Insignificant costs C.Direct Costs D.Indirect Costs

Description : In Project crashing, rent and overheads are treated as  A.Significant Cost  B.Insignificant costs  C.Direct Costs  D.Indirect Costs

Last Answer : D.Indirect Costs

Cost controls can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project 2. The process of assembling and predicting costs of a project over its life cycle 3. The process of assembling and predicting costs of a project over its life cycle 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis.

Description : Cost controls can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities,  uncertainties, and inflation that  could ... of gathering, accumulating, analyzing, reporting, and managing the costs on  an on-going basis.

Last Answer : 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on  an on-going basis.

A profitability index (PI) of .92 for a project means that . A. The project's costs (cash outlay) are (is) less than the present value of the project's benefits B. The project's NPV is greater than zero C. The project's NPV is greater than 1 D. The project returns 92 cents in present value for each current rupee invested (cost)

Description : A profitability index (PI) of .92 for a project means that . A. The project's costs (cash outlay) are (is) less than the present value of the project's benefits B. The project's NPV is ... is greater than 1 D. The project returns 92 cents in present value for each current rupee invested (cost)

Last Answer : C. The project's NPV is greater than 1

Costs that are not directly related to the products or services of the project, but are indirectly related to performing the project. A. Intangible Costs B. Sunk Cost C. Tangible Costs D. Indirect Costs

Description : Costs that are not directly related to the products or services of the project, but are indirectly related to performing the project. A. Intangible Costs B. Sunk Cost C. Tangible Costs D. Indirect Costs

Last Answer : D. Indirect Costs

Considers the total cost of ownership, or development plus support costs, for a project. A. Learning Curve Theory B. Life Cycle Costing C. Parametric Modeling D. Rate of Performance

Description : Considers the total cost of ownership, or development plus support costs, for a project. A. Learning Curve Theory B. Life Cycle Costing C. Parametric Modeling D. Rate of Performance

Last Answer : B. Life Cycle Costing

In the initial stage of the project the probability of comple(C) Low (D) Any of the aboveting the project is ___ . (A) Zero (B) High

Description : In the initial stage of the project the probability of completing the project is ___ . (A) Zero (B) High (C) Low (D) Any of the above

Last Answer : (C) Low

___ builds on the work done in project initiation through the development of a project

Description : ___ builds on the work done in project initiation through the development of a project 

Last Answer : Ans. Project planning

___ is a financial term to describe a business or project where the sales revenue is equal to total expenses.

Description : ___ is a financial term to describe a business or project where the sales revenue is equal  to total expenses.

Last Answer : Ans. Break-even

.In the initial stage of the project the probability of completing the project is ___ . A.Zero B.High C.Low D.Medium

Description : .In the initial stage of the project the probability of completing the project is ___ .   A.Zero  B.High  C.Low  D.Medium

Last Answer : C.Low

PSA 315 requires that the auditor should obtain an understanding of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the following is not among the items that relate to industry conditions? a. Energy, supply and cost b. Inflation and currency revaluation c. Market and competition d. Cyclical or seasonal activity

Description : PSA 315 requires that the auditor should obtain an understanding of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the ... Inflation and currency revaluation c. Market and competition d. Cyclical or seasonal activity

Last Answer : Inflation and currency revaluation

Project Manager must ensure that it develops appropriate trade off/s as A. Time, cost and performance B. Time, value and performance C.Men, Materials and Machines D.Money, Cost and Return on Investment

Description : Project Manager must ensure that it develops appropriate trade off/s as  A. Time, cost and performance  B. Time, value and performance  C.Men, Materials and Machines  D.Money, Cost and Return on Investment

Last Answer : A. Time, cost and performance

Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

Description : Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

Last Answer : (B) Onsite and offsite costs

The Scope Baseline is: 1. the original description of the project's end results 2. a summary description of the project's original content and end product, including basic budgetary and time constraint data 3. the original project budget and schedule 4. a and c

Description : The Scope Baseline is: 1. the original description of the project's end results  2. a summary description of the project's original content and end product, including basic  budgetary and time constraint data 3. the original project budget and schedule  4. a and c

Last Answer : 2. a summary description of the project's original content and end product, including basic  budgetary and time constraint data

Which of the following is not a relevant cost in capital budgeting? A. Sunk Cost B. Opportunity cost C. Allocated overheads D. Both (a) and (c) above

Description : Which of the following is not a relevant cost in capital budgeting? A. Sunk Cost B. Opportunity cost C. Allocated overheads D. Both (a) and (c) above

Last Answer : D. Both (a) and (c) above

Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A) Algorithmic model (B) Expert judgment (C) Top down (D) Analogy

Description : Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A) Algorithmic model (B) Expert judgment (C) Top down (D) Analogy

Last Answer : (D) Analogy

One of the reasons a project life cycle is split into phases ic. mirror the major deployments of resources throughout the project. d. chunk work into time periods of similar durations.s to: a. facilitate formal go/no-go decision making during the project. b. balance the costs of work in each phase of project development.

Description : One of the reasons a project life cycle is split into phases is to: a. facilitate formal go/no-go decision making during the project. b. balance the costs of work in each phase of ... the major deployments of resources throughout the project. d. chunk work into time periods of similar durations.

Last Answer : a. facilitate formal go/no-go decision making during the project.

Which one of the following is captured in the Work Breakdown Structure (WBS)? a. The life cycle phases. b. The logical order of tasks. c. The scope of the project. d. Project costs.

Description : Which one of the following is captured in the Work Breakdown Structure (WBS)? a. The life cycle phases. b. The logical order of tasks. c. The scope of the project. d. Project costs.

Last Answer : c. The scope of the project.

Which one of the following does project change control primarily seek to ensure? a. All variance to the project scope is evaluated. b. No reduction in the perceived quality of the project outcome. c. Management costs of the project do not increase. d. Any decrease in the scoped deliverable of the project is rejected.

Description : Which one of the following does project change control primarily seek to ensure? a. All variance to the project scope is evaluated. b. No reduction in the perceived quality of the project outcome. ... project do not increase. d. Any decrease in the scoped deliverable of the project is rejected.

Last Answer : a. All variance to the project scope is evaluated.

Which of the following types of Organizational Charts can be BEST used to track project costs : A. Hierarchical-type Organizational Chart B. Organizational Breakdown Structure C. Resource Breakdown Structure D. Responsibility Assignment Matrix

Description : Which of the following types of Organizational Charts can be BEST used to track project costs : A. Hierarchical-type Organizational Chart B. Organizational Breakdown Structure C. Resource Breakdown Structure D. Responsibility Assignment Matrix

Last Answer : C. Resource Breakdown Structure

Which of the following is/are main parameters that you should use when computing the costs of a software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Description : Which of the following is/are main parameters that you should use when computing the costs of a software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Last Answer : d) all of the mentioned

Which of the following is not project management goal? a) Keeping overall costs within budget b) Delivering the software to the customer at the agreed time c) Maintaining a happy and well-functioning development team

Description : Which of the following is not project management goal? a) Keeping overall costs within budget b) Delivering the software to the customer at the agreed time c) Maintaining a happy and well-functioning development team

Last Answer : d) Avoiding customer complaints

Which of the following is/are main parameters that you should use when computing the costs of a software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Description : Which of the following is/are main parameters that you should use when computing the costs of a  software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Last Answer : d) all of the mentioned

This set of Software Engineering Multiple Choice Questions & Answers (MCQs) focuses on “Project Management”. 1. Which of the following is not project management goal? a) Keeping overall costs within budget b) Delivering the software to the customer at the agreed time c) Maintaining a happy and well-functioning development team d) Avoiding customer complaints

Description : This set of Software Engineering Multiple Choice Questions & Answers (MCQs) focuses on Project  Management . 1. Which of the following is not project management goal? a) Keeping overall ... agreed time c) Maintaining a happy and well-functioning development team d) Avoiding customer complaints

Last Answer : d) Avoiding customer complaints

What is the most critical aspect in developing a project plan that meets project specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk managemenc. Emphasizing error prevention and customer satisfaction d. Requiring commitment to quality by all the employees and business partners e. Developing a project execution plan that matches the complexity level of the projectt b. Providing documents that specifically comply with the quality standards in use

Description : What is the most critical aspect in developing a project plan that meets project  specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk management b ... business partners e. Developing a project execution plan that matches the complexity level of the project

Last Answer : e. Developing a project execution plan that matches the complexity level of the project

According to the PMBOK guide which of the following sta. Reserve analysis always plans contingency reserves for unexpected project scope and project costs, which are part of your project budget. b. Reserves should not be included in the project budget. c. If you only have limited resources, you may completely ignore reserve analysis when you try to determine your project budget. d. Planning contingency reserves for a project is not practical. e. Contingency reserves have never been a concern when planning a project budget.atements is right in terms of using reserve analysis to determine a project budget ?

Description : According to the PMBOK guide which of the following statements is right in terms  of using reserve analysis to determine a project budget ? a. Reserve analysis always plans contingency reserves ... not practical. e. Contingency reserves have never been a concern when planning a project budget.

Last Answer : . Reserve analysis always plans contingency reserves for unexpected project scope and  project costs, which are part of your project budget.

According to the PMBOK guide, which of the following statements is right in terms of using reserve analysis to determine a project budget? Select one: A. Reserve analysis always plans contingency reserves for unexpected project scope and project costs, which are part of your project budget. B. Reserves should not be included in the project budget. C. If you only have limited resources, you may completely ignore reserve analysis when you try to determine your project budget. D. Planning contingency reserves for a project is not practical. E. Contingency reserves have never been a concern when planning a project budget.

Description : According to the PMBOK guide, which of the following statements is  right in terms of using reserve analysis to determine a project budget? Select one: A. Reserve analysis always plans ... not practical. E. Contingency reserves have never been a concern when planning a project budget.

Last Answer : A. Reserve analysis always plans contingency reserves for unexpected project scope and  project costs, which are part of your project budget.

Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A)Algorithmic model (B)Expert judgment (C)Top down (D)Analogy

Description : Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A)Algorithmic model (B)Expert judgment (C)Top down (D)Analogy

Last Answer : (D)Analogy

computing the costs of a development project? (A)travel and training costs (B) hardware and costs (C) effort costs (the costs of paying engineers and managers) (D)All of the mention

Description : computing the costs of a development project? (A)travel and training costs (B) hardware and costs (C) effort costs (the costs of paying engineers and managers) (D)All of the mention

Last Answer : (D)All of the mention

Which of the following is not project management goal? a) Keeping overall costs within budget. b) Delivering to the customer at the agreed time. c) Maintaining a happy and well-functioning development team. d) Avoiding costumer complaints.

Description : Which of the following is not project management goal? a) Keeping overall costs within budget. b) Delivering to the customer at the agreed time. c) Maintaining a happy and well-functioning development team. d) Avoiding costumer complaints.

Last Answer : d) Avoiding costumer complaints.

The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Description : The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Last Answer : a. project management.

Which one of the following is captured in the Work Breakdown Structure (WBS)? A.The life cycle phases B.The logical order of tasks C.The scope of the project D. Project costs

Description : Which one of the following is captured in the Work Breakdown Structure (WBS)?  A.The life cycle phases  B.The logical order of tasks  C.The scope of the project  D. Project costs

Last Answer : C.The scope of the project

Jim Smith, the project manager for a high-profile project, has permitted the users to add additional features to the systems project. The schedule and costs are now running over. This project suffers from poor standards.

Description : Jim Smith, the project manager for a high-profile project, has permitted the users to  add additional features to the systems project. The schedule and costs are now running  over. This project suffers from poor standards.

Last Answer : Ans: False