Although information technology projects have a poor track record in meeting project goals, they have a good track record in meeting budget goals.Answer

Selected Answer:False

Correct Answer:False

Question 20 out of 0 points

When deciding what projects to invest in or continue, you should include sunk costs.Answer

Selected Answer:True

Correct Answer:False

Question 30 out of 0 points

____ involves developing an approximation or estimate of the costs of the resources needed to complete a project.Answer

Selected Answer: Consolidation of costs

Correct Answer: Estimating costs

Question 40 out of 0 points

Parametric models are least reliable when historical information was used to create the model.Answer

Selected Answer:[None Given]

Correct Answer:False

Question 50 out of 0 points

Since organizations depend on reliable information technology, there are also huge costs associated with ____.Answer

Selected Answer: downtime

Correct Answer: downtime

Question 60 out of 0 points

The ____ is an estimate of what it will cost to complete the project based on performance to date.Answer

Selected Answer: [None Given]

Correct Answer: EAC

Question 70 out of 0 points

A ____ is used for making many purchasing decisions for which accurate estimates are required and for estimating final project costs.Answer

Selected Answer: [None Given]

Correct Answer: definitive estimate

Question 80 out of 0 points

If the cost estimate will be the basis for contract awards and performance reporting, it should be a ____ and as accurate as possible.Answer

Selected Answer: [None Given]

Correct Answer: definitive estimate

Question 90 out of 0 points

The cost management plan is part of the overall project management plan.Answer

Selected Answer:[None Given]

Correct Answer:True

Question 100 out of 0 points

____ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.Answer

Selected Answer: [None Given]

Correct Answer: Determining the budget

Question 110 out of 0 points

Project managers should focus on ____, since they can control them.Answer

Selected Answer: [None Given]

Correct Answer: direct costs

Question 120 out of 0 points

There does not need to be a change control system to define procedures for changing the cost baseline.Answer

Selected Answer:[None Given]

Correct Answer:False

Question 130 out of 0 points

____ allow for future situations that are unpredictable.Answer

Selected Answer: [None Given]

Correct Answer: Management reserves

Question 140 out of 0 points

____ includes the processes required to ensure that a project team completes a project within an approved budget.Answer

Selected Answer: [None Given]

Correct Answer: Project cost management