Estimate providing the best accuracy for total project cost

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Reference no: EM131738486

1. True or False. The feasible budget region is developed by looking at the project cost profile using early start time, then seeing the difference between this and the profile using late Start times.

2. Which of the following statements are true about cost estimating (select all that are true):

a) the expert opinion method is the same as the cost engineering method

b) the anaology method require that a similar project or work task was done previously

c) it might invovle serveral method simultaneously, such as expert opinion, analogy, and cost engineering

3. A subcontractor object to an audit that is that is performed by the quality department of the main contractor. the procurement manager should explain to the subcontracto that the objective is to

a) help the subcontractor document the lessons learned on the project

b) meet the requirment for ISO 9001 accrediitation to the main contractor

c)help the subcontractor obtain six sigma levels of quality

d) ensure correctness of the subcontractor's financial statement

e) verify adherence to prescribed procedures

4. Which of the follwoing present information in order of priorty to assist focusin on the most critical ones?

a) ishikawa diagram

b)cause and effect diagram

c) cureent reality tree

d) pareto diagram

e) causual loop diagram

5) the project planning and estimating process (select all that apply)

a) relies upon work package supervisor to authorize when work package should begin

b) use a bottom up approach to prepare and check labor and cost estimate

c) use a top-down approach to disseminate information about project goals to lower levels

d)employs pricing units to decide on areas of work needed to prepare labor hours estimate

6) if the actual cost turn to be 234,000 which of the following is the most accurate estime

a. 235k

b. 237,342

c. 233,500

d. 234k

7) True or false. The top down approach to cost estimating provide greater cost accuracy than the bottom up approach

8) the estimate providing the best accuracy for total project cost come from:

a. looking at the cost of similar, completed project

b. looking at the project as a whole

c. combining estimate from all the work packages

d. the cost constraint specified by the customer

9. Which method relies on formulae and table to estimate project costs

a. prametric

b. cost engineering

c. analogy

d. expert opinion

10. True or false. The net present worth of the project derived from project expenses can be increased by delaying the start of project acitivities.

11. if the target cost is 235k, which of the following is the most precise estimate:

a. 237,342

b. 233,500

c. 234,500

d.236k

12. Quality planning should be done

a. independenly by the quality manager at the same time as scheduling is done by the project manager

b. only after scheduling the project that it would be obvious when quality action such as inspection are needed

c. by the project manager just before inspection and testing

d.as an intergrated part of project planning

e. before scope definition, scheduling and budgeting of the project

13. RPN is calculated as

a. SEVERITY + OCCURANCE + DETECTION

b. SEVERITY + OCCURANCE - DETECTION

c. SEVERITY * OCCURANCE / DETECTION

d. SEVERITY * OCCURANCE * DETECTION

Reference no: EM131738486

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