Multiple Choice Questions

Overrun is the additional percentage amount by which estimates exceed actual costs.
  • True
  • False
IT project managers must be able to present and discuss project information both in financial and technical terms.
  • True
  • False
Determining the budget involves allocating the project cost estimate to individual work items over time.
  • True
  • False
Parametric models are reliable when the models are flexible in terms of the project's size.
  • True
  • False
Analogous estimates are called activity based costing.
  • True
  • False
If the cost performance index (CPI) is less than 100 percent, the project is under budget.
  • True
  • False
Analogous estimates are the most accurate technique to estimate costs.
  • True
  • False
Budgetary estimates are made even before a project is officially started.
  • True
  • False
A schedule performance index of one means that the project is on schedule.
  • True
  • False
A cost management plan can include organizational procedures links, control thresholds, and process descriptions.
  • True
  • False
Contingency reserves are also known as unknown unknowns.
  • True
  • False
Supporting details for an estimate include the ground rules and assumptions used in creating the estimate.
  • True
  • False
A budgetary estimate is the most accurate of the three types of estimates.
  • True
  • False
In a bottom up estimate, the size of the individual work items is one of the factors that drives the accuracy of the estimates.
  • True
  • False
The primary output of the planning cost management process is a change request.
  • True
  • False
Definitive estimates are made one year or less prior to project completion.
  • True
  • False
Project managers must conduct cash flow analysis to determine net present value.
  • True
  • False
When deciding what projects to invest in or continue, one should include sunk costs.
  • True
  • False
Spreadsheets are a common tool for cost estimating, cost budgeting, and cost control.
  • True
  • False
If cost variance is a positive number, it means that performing the work costs more than planned.
  • True
  • False
A negative schedule variance means that it took lesser than planned to perform the work.
  • True
  • False
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Multiple Choice Questions
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