pmg 323 cost estimate quiz module 2
docx
keyboard_arrow_up
School
Arizona College *
*We aren’t endorsed by this school
Course
323
Subject
Industrial Engineering
Date
Feb 20, 2024
Type
docx
Pages
3
Uploaded by KidCoyote1485
Question 1 1pts According to US Government and Accountability Office (GAO)'s definition, cost estimate O is updated when actual costs accrue © doesnit eliminate cost overruns. ® estimates future costs, based on what is known today. O No answer text provided Question 2 2pts Two main reasons for IT project cost overruns are (Check all that apply) overlooking key project costs O scarce resources Erroneous cost estimates O insufficient cash flow
Question 3 1pts estimating uses actual costs of previous similar projects Analogous Question 4 1pts The difference between analogous and parametric (comparative) estimates is that while analogous estimate relies on actual data from previous projects, the parametric estimate uses. relationship between historical data and other variables. Statistical Question 5 1pts In bottom-up estimating is used to estimate the cost of work packages to have a more accurate cost estimate. work breakdown structure
Question 6 1pts PERT is a three point estimating technique that employs (0 an expected activity cost, an actual activity cost and an estimated activity cost. (0 amost likely cost, a less likely cost and an actual cost. amost likely estimate, an optimistic estimate and a pessimistic estimate. Question 7 2pts Going back to your Project Scope Statement assignment in Module 1, which cost estimating technique is the best option for your project? Why? (30-50 words) Edit View Insert Format Tools Table 12ptv Paagaphy | B I U A~ 2 v Tiv Question 8 1pts A frequently made mistake when estimating costs is being too .
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help