GCU MGT640 2020 JUNE Week 4 Quiz Latest

MGT640 Fundamental of Project Management

Week 4 Quiz  

1 Each of the following is an element of the cost management plan except which one?

Level of accuracy

Reporting formats

Units of measure

Cost aggregation method

2 Which of the following is used during the Project Cost Management Knowledge Area to monitor and control project costs? It is used to calculate earned value performance measures and consists of factors such as actual cost, schedule, and scope.

Control account

Code of accounts

Chart of accounts

Control thresholds

3 All of the following are true regarding the Determine Budget process except:

It assigns cost estimates to the project activities.

The cost baseline plots the sum of estimated costs in a linear graph.

Estimates in the cost baseline are used to measure variances and performance later in the project.

The cost baseline, once established, is the expected cost for the project.

4 This tool and technique of Estimate Costs generally provides the most accurate estimate.

Analogous estimating

Bottom-up estimating

Three-point estimating

Parametric estimating

5 This cost estimating technique is a form of expert judgment and is one of the least accurate cost estimating techniques.

Analogous estimating

Bottom-up estimating

Parametric estimating

Three-point estimating

6 Which of the following lists the correct outputs of the Estimate Cost process?

Cost estimates, cost management plan, organizational process assets updates

Cost estimates, reserve analysis, cost management plan

Cost estimates, basis of estimates, project documents updates

Cost estimates, reserve analysis, project documents updates

7 The difference between the funding requirements and the cost performance baseline at the end of the project is known as which of the following?

Cost threshold

Contingency reserve

Cost aggregation

Management reserve

8 During the Planning process on your recent project, you met with a group of fourteen important stakeholders to determine information needs including the purpose for the communication, frequency of communication, and format and method of transmission. Which of the following is true?

This information is documented in the stakeholder communication plan, which is an output of the Plan Communications process. There are 98 lines of communication.

This information is documented in the communications management plan, which is an output of the Plan Communications process. There are 112 lines of communication.

This information is documented in the communications management plan, which is an output of the Plan Communications process. There are 105 lines of communication.

This information is documented in the stakeholder communication plan, which is an output of the Plan Communications process. There are 120 lines of communication.

9 Your team has 7 members including yourself. How many lines of communication are there among the members?

7

14

21

27

10 Cost estimating techniques are not useful when using this type of life cycle approach. You need high-level, quick estimates due to the changing nature of the requirements.

Predictive

Agile

Hybrid

Waterfall