Early in a project when very little detail is known about a project, to get a quick rough estimate we can use: a. parametric estimate b. analogous estimate c. pert estimate d. bottomup estimate 15? pm What is used in the Project Cost Management Knowledge Area to monitor and control project costs? a. Control Account (CA) b. Project monitor c. Value Account d. Account Monitor 1:57 om Which estimating technique uses historical data from a similar project as a starting point for creating a time or cost estimate? a. Monte Carlo estimating b. parametric estimating c. bottomup estimating d. analogous estimating 1:57 pm A new store development project requires the purchase of various equipment, machinery. and furniture. The department responsible for the development recently centralized its external purchase processes and standardized its new estimating costs policies and templates. In which document these new estimate costs policies and templates should be found? a. Basis of project estimating techniques b. Project scope statement c. Organizational process assets d. Project W35 15? pm The approved timephased project budget. excluding any management reserves. which can be changed only through formal change control procedures and is used as a basis of comparing actual results. is called a_ : a. cost benchmark. b. control account. c. cost baseline. d. measurement baseline. 1.57 nm Earned value analysis is defined as: a. A method of measuring project performance b. The actual cost of work performed minus the budgeted cost of work performed c. A method of measuring inefficiencies in a project d. A method of measuring the amount of money that has been spent to date 157 pm Which of the following costs will not be considered in the Human Resource Management Costs? a. Cost of Training Team Members b. Cost of Firing Team Members c. Cost of Hiring Team Members d. Cost of monitoring Team Members by the Project Manager 157 an. Costs that do not change with the level of project activity are known as : a. Variable Cost b. Fixed costs. C. Indirect Cost d. Direct costs. 1:57 pmWhich of the following statement is true: a. Analogous estimating requires less information and time than Parametric estimating b. Top Down method is the most suited for activity estimate c. Parametric estimating requires less information and time than analogous estimating. d. Pert is the most preferred estimation method in the early stages of Cost estimation 1:5? om All of the following items describe an aspect of life cycle costing EXCEPT: a. Life cycle cost only includes the project cost from initiating through closing. b. Life cycle cost includes the cost of creating the project and using the result. C. Project managers may need to consider product disposition costs to calculate total life cycle cost. d. Many project selection decisions are made based upon life cycle cost. 15? pm