Question 1

Developing an effective Work Breakdown Structure (WBS) requires a strong understanding of project organization. Knowing how the project is organized begins with the decomposition of project deliverables structured into defined work packages. This deliverable-oriented hierarchical decomposition is known as the WBS which is extended by establishing control accounts with appropriate work packages. From an EVM perspective at which level is budget assigned and tracked to ensure for proper reporting?

Group of answer choices

WBS

Control Account

Work Package

It depends

Question 2

The total project cost is often estimated during the_______ phase of the project or when the project charter or a proposal is prepared.

Group of answer choices

Initiating

Planning

Performing

Closing

Question 3

The project cost estimate is allocated to:

Group of answer choices

Charged completely on the first day of the work package.

Charged at the end of the project

Distributed over the duration of the work package.

Charged completely on the last day of the work package.

Question 4

The project cost estimate is allocated to:

Group of answer choices

The various work packages in the project work breakdown structure

The resources in the project

The committed costs in the project

The stakeholders

Question 5

There are two approaches to establishing the total budgeted cost for each work package:

Group of answer choices

Top-down and bottom-up

Horizontal and vertical

Committed and actual

Aggregated and disaggregated

Question 6

When the budgets for all the work packages are summed:

Group of answer choices

They should exceed the amount of funds available

They cannot exceed the total project budgeted cost

If the total is too high then the amounts should be force-fitted into the customer's budget.

If the total is too low then extra non-project expenses should be added.

Question 7

A cost is determined for each period, based on when the activities that make up the work package are scheduled to be performed, to create:

Group of answer choices

The time-phased budget

The actual costs of the project

An example budget

An adjusted budget

Question 8

Large projects would have charge codes for the work package numbers to:

Group of answer choices

Have a place for other projects to charge expenses

Determine how the actual costs compare to the planned costs.

Have resources be able to determine what tasks they should complete.

Allow for cutting of the budget for the activities if need to cut the budget

Question 9

From a project manager's perspective, the WBS might be best compared to:

Group of answer choices

Project task outline

Organizational Chart

Deliverable chart

Responsibility Assignment Matrix (RAM)

Question 10

The WBS provides the framework for Earned Value Management.

Group of answer choices

True

False