Budgeting for effort is similar to budgeting for equipment in which of the following ways? Both can involve real and overhead costs. Both contain estimates identified when creating the pro


  Question 1

Budgeting for effort is similar to budgeting for equipment in which of the following ways?

Both can involve real and overhead costs.

Both contain estimates identified when creating the project schedule.

Both include all costs for labor.

Both involve non-people resources.

2

Which piece of information below is included in a resource agreement?

Dependencies

Time estimates

Contingencies

Effort estimates

3

Which of the following are considered only people project resources?

Project support staff, software developer, machinery

Project manager, software, equipment vendor

Equipment, project manager, vendors

Project support staff, software developer, equipment vendor

4

Which of the following is not a method of creating a project budget?

Roll-up budgeting

Comparison budgeting

Actual budgeting

Top-down budgeting

5

Which of the following is true regarding project planning?

Once a component is defined, it is not revisited again.

Multiple components can be worked on at the same time.

The project plan can be completed without including a communication plan.

The work breakdown structure is completed last.

6

Which example describes the use of a Time and Materials contract?

A homeowner pays a landscaping company an hourly rate to install plants he purchases from them.

A homeowner pays the same monthly fee to a landscaping company regardless of how much work they perform.

A homeowner pays a landscaping company for plants that were delivered to his home.

A homeowner hires a landscaping company at a set price to design, provide, and install new plants in his front yard.

7

Which of the following refers to the degree of damage that a particular risk has in the overall project?

Probability

Contingency

Cost

Impact

8

All team members need to be included in determining time and effort estimates for which of the following reasons?

The team members need to know these estimates to delegate tasks.

Time and effort required is primarily dependent upon the project manager’s expectations.

Time and effort required is primarily dependent upon team members’ expertise.

The team members need to know these estimates to hire contractors.

9

In which of the following ways are activities different from tasks?

Tasks are used for sequencing the project work.

Activities are minor pieces of project work.

Activities provide specificity regarding the project work.

Tasks are subordinate to activities.

10

Which of the following individuals listed in the RACI has authority for project action approval?

Informed

Consulted

Accountable

Responsible

11

Leon started a project to design and create a new video game for the animation studio where he develops graphics and animations for video games and movies.

Which item below would be considered an overhead cost?

Animations created for the game

Packaging for the video game

Research time to develop characters and stories

Computers used by staff during the project

12

Which of the following correctly describes the purpose of a project dashboard? 

Identify dependencies

Provide status updates

Sequence activities

Identify risks

13

Which of the following is true regarding sequencing?

Tasks that have a logical sequence take less time to complete.

Some tasks can be completed at the same time.

Dependencies have little effect on a project timeline.

All tasks in a project have a logical sequence.

14

Which of the following is true regarding the creation of a WBS?

The deliverables are defined in the Resource Plan.

The Sticky Note method is performed solely by the project manager.

The Resource Plan is the basis for developing the WBS.

Activities must be identified before tasks.

15

Which of the following is NOT covered during the Planning Approval meeting? 

Review of project budget

List of all documented risks

List of individual tasks

List of needed resources

16

Which of the following is the longest string of dependent project activities required to complete a project in the shortest amount of time? 

Critical path

Project schedule

Resource estimate

Effort estimate

17

Which of the following risks may not prove to be true?

Resource

Schedule

Deliverable

Assumption

18

Which of the following provides a sequenced plan that estimates the time required to complete project activities and tasks?

Resource plan

Project plan

Project schedule

Communication plan

19

Which of the following describes the Actual budgeting method? 

Does not include overhead costs

Considers historical budgets

Estimates a value for each project activity

Allows for cost overages

20

Karen provided advice to the team working on creating a flavored water beverage since she worked on a similar project in the past.
 

Karen was assigned which of the following RACI elements?

Consulted

Accountable

Informed

Responsible

21

Which of the following risks is considered bad but survivable?

Medium probability

High impact

High probability

Medium impact

22

Which statement describes the effort Joel used when he painted a room in his house? 

Joel allowed one week to purchase the paint, prep the room, and paint the room.

Joel painted the room in three hours.

Joel waited to paint the room until the spackling was done.

Joel hung the pictures after the paint dried.

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