Term
| Costs that stay the same through the project are know as: |
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Definition
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Term
| Costs that are billable to the project are known as: |
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Definition
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Term
Sunk Costs are:
1) Costs that are over budget
2) Costs that are billable to the project
3) Expended costs
4) Costs that are allocated among projects |
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Definition
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Term
| When project managers are preparing cost estimates, which it the best technique? |
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Definition
| Bottom up (estime from the lowest level on the WBS and roll-up) |
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Term
| What are the three inputs to 'Estimate Costs'? |
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Definition
1) Risk Register
2) Project schedule and resources plan
3) Risk Register |
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Term
| Sally is sure that the project activity being estimated will take 40 hours duration. Her colleague Paul has provided an estimate to the PM for the same work, at 10 hours duration. The PM, having estimated and managed this activity in the past thinks that it will take 20 hours duration. Using PERT, what's the appropriate activity duration to capture in the cost estimates? |
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Definition
| 22 (rounded to nearest hour). |
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Term
Resource calendars are an input to which cost management process:
1) Determine Budget
2) Estimate Costs |
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Definition
| 1) Determine Budget. Resource / HR plan is the input to Estimate Costs |
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Term
| What is a cost performance baseline? |
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Definition
| It is the spending plan of costs over the project timeline. |
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Term
| What is 'PV' and what does it mean? |
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Definition
| PV = Planned Value and is the value of the planned work remaining |
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