Project Management (Chapters 1-5) Test with all Correct
& 100% Verified Answers |Latest Version |Already
Graded A+
Traceability ✔Correct Answer-The tracking of something from the beginning to end.
Two things (or metrics) to combine that make a project valuable ✔Correct Answer-(1)
something to compare to and (2) come up with a trend to see how things are going over time.
Metrics ✔Correct Answer-Measures an organization's activity performance.
Work Breakdown Structure (WBS) ✔Correct Answer-A selective outline of the project used for
collecting information to use through all phases of the life cycle, to meet needs of all
stakeholders, and measure performance against the strategic plan of the organization. *Gives
you the activities you need to be able to create the project plan.
How would you use a weighted scoring matrix to decide on a movie to see? ✔Correct Answer-
Come up with criteria for each movie and rate each criteria's importance to you, such as movie
ratings, times, genres, sold out or not, reviews, etc.
Business Case ✔Correct Answer-A wish-list of projects used for selecting projects after the
strategic management process.
4 Items Included in a Business Case ✔Correct Answer-(1) cost, (2) time, (3) how it's aligned
with vision/goals, (4) risk.
Work Package ✔Correct Answer-The basic unit for planning, scheduling, and controlling the
project.
The lowest level of the WBS ✔Correct Answer-Work package
6 Items Included in Each Work Package ✔Correct Answer-(1) defines work - what
(2) identifies time to complete a work package - how long
(3) identifies and time-phased budget to complete work package - cost
(4) identifies resources needed to complete a work package - how much
(5) identifies a single person responsible for units of work - who
(6) identifies monitoring points for measuring progress - how well
Project Manager ✔Correct Answer-Person who comes up with a business plan.
, Functional Manager ✔Correct Answer-Person who figures out what projects to do that will
support the company and comes up with a business case to justify that project.
Another phrase for project selection ✔Correct Answer-Vetting process
Top-Down Estimating ✔Correct Answer-Uses experience and/or information to determine
project duration and total cost. *Used typically when there is not enough information available
to make accurate time and cost estimates.
Bottom-Up Estimating ✔Correct Answer-A more detailed process of estimating cost and time.
*Usually done by those doing the work, based on elements found in the WBS.
How does the customer benefit from bottom-up estimates? ✔Correct Answer-They can
compare low-cost, efficient methods with any imposed restrictions (trade-offs) such as lower
cost with a trade-off of longer project duration.
5 Methods of Top-Down Estimates ✔Correct Answer-(1) Consensus
(2) Ratio
(3) Apportion
(4) Function Point
(5) Learning Curve
Consensus Method ✔Correct Answer-Uses pooled experience from senior and/or middle
management (Delphi method group decision process about the likelihood that certain events
will occur).
Ratio Method ✔Correct Answer-Uses past time experience ratios (contractors using past
dollar amount per square foot) to estimate time and cost as a whole.
Apportion ✔Correct Answer-Used when projects relate closely to past projects, but cost and
time are estimated by single tasks.
Function Point ✔Correct Answer-Used for software development and system projects. They
are major input parameters (such as inputs, outputs, inquiries, data files, interfaces) which are
adjusted according to complexity and then added. *The total is the basis for estimating.
Learning Curve ✔Correct Answer-Labor hours are reduced with repetition of a task/project.
Which top-down estimate methods are parametric? ✔Correct Answer-Consensus and
apportion.
Importance of the Initiating Phase ✔Correct Answer-(1) cost is predetermined
(2) the scope - time and cost - must be baselined
(3) the cost of rework
& 100% Verified Answers |Latest Version |Already
Graded A+
Traceability ✔Correct Answer-The tracking of something from the beginning to end.
Two things (or metrics) to combine that make a project valuable ✔Correct Answer-(1)
something to compare to and (2) come up with a trend to see how things are going over time.
Metrics ✔Correct Answer-Measures an organization's activity performance.
Work Breakdown Structure (WBS) ✔Correct Answer-A selective outline of the project used for
collecting information to use through all phases of the life cycle, to meet needs of all
stakeholders, and measure performance against the strategic plan of the organization. *Gives
you the activities you need to be able to create the project plan.
How would you use a weighted scoring matrix to decide on a movie to see? ✔Correct Answer-
Come up with criteria for each movie and rate each criteria's importance to you, such as movie
ratings, times, genres, sold out or not, reviews, etc.
Business Case ✔Correct Answer-A wish-list of projects used for selecting projects after the
strategic management process.
4 Items Included in a Business Case ✔Correct Answer-(1) cost, (2) time, (3) how it's aligned
with vision/goals, (4) risk.
Work Package ✔Correct Answer-The basic unit for planning, scheduling, and controlling the
project.
The lowest level of the WBS ✔Correct Answer-Work package
6 Items Included in Each Work Package ✔Correct Answer-(1) defines work - what
(2) identifies time to complete a work package - how long
(3) identifies and time-phased budget to complete work package - cost
(4) identifies resources needed to complete a work package - how much
(5) identifies a single person responsible for units of work - who
(6) identifies monitoring points for measuring progress - how well
Project Manager ✔Correct Answer-Person who comes up with a business plan.
, Functional Manager ✔Correct Answer-Person who figures out what projects to do that will
support the company and comes up with a business case to justify that project.
Another phrase for project selection ✔Correct Answer-Vetting process
Top-Down Estimating ✔Correct Answer-Uses experience and/or information to determine
project duration and total cost. *Used typically when there is not enough information available
to make accurate time and cost estimates.
Bottom-Up Estimating ✔Correct Answer-A more detailed process of estimating cost and time.
*Usually done by those doing the work, based on elements found in the WBS.
How does the customer benefit from bottom-up estimates? ✔Correct Answer-They can
compare low-cost, efficient methods with any imposed restrictions (trade-offs) such as lower
cost with a trade-off of longer project duration.
5 Methods of Top-Down Estimates ✔Correct Answer-(1) Consensus
(2) Ratio
(3) Apportion
(4) Function Point
(5) Learning Curve
Consensus Method ✔Correct Answer-Uses pooled experience from senior and/or middle
management (Delphi method group decision process about the likelihood that certain events
will occur).
Ratio Method ✔Correct Answer-Uses past time experience ratios (contractors using past
dollar amount per square foot) to estimate time and cost as a whole.
Apportion ✔Correct Answer-Used when projects relate closely to past projects, but cost and
time are estimated by single tasks.
Function Point ✔Correct Answer-Used for software development and system projects. They
are major input parameters (such as inputs, outputs, inquiries, data files, interfaces) which are
adjusted according to complexity and then added. *The total is the basis for estimating.
Learning Curve ✔Correct Answer-Labor hours are reduced with repetition of a task/project.
Which top-down estimate methods are parametric? ✔Correct Answer-Consensus and
apportion.
Importance of the Initiating Phase ✔Correct Answer-(1) cost is predetermined
(2) the scope - time and cost - must be baselined
(3) the cost of rework
