Business Analytics & Technology Management Chapter 5 MCQs

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The process of forecasting or approximating the time and cost of completing project deliverables is called






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In practice, estimating processes are frequently classified as






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A typical statement in actual practice is that estimates should have a probability of being met ______ of the time.






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A good starting point for developing time and cost estimates is






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Which of the following is not one of the factors that need to be considered to improve quality of estimates for project times and costs?






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Ed is looking over the actual results of projects and comparing them to what was estimated. He notices that projects that took six months or longer to...






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Janet is forecasting how much money her department needs to support a new project. She estimates that two people and $25,000 in expenses will cover he...






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Which of the following is a good condition for top-down estimating?






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Which of the following is a good condition for bottom-up estimating?






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Top-down estimates are most likely to occur during the ______ phase.






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______ estimates are most likely to use low cost, efficient methods.






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Which of the following methods is not considered a top-down approach to estimating project time and cost?






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Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount. Which of t...






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Sean is forecasting the time and cost of developing a customized software program by looking at the number of inputs, outputs, inquires, files, and in...






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Learning curves are more likely to apply in situations where most of the costs are






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Which of the following is not one of the bottom-up approaches to estimating project time and cost?






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The approach that begins with a top-down estimate for the project and then refines estimates as the project is implemented is known as ______ method. ...






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Which of the following would be the best method for projects where the final product is not known and the uncertainty is very large?






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The accuracy of top-down estimates will typically be in the range of






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The accuracy of bottom-up estimates will typically be in the range of






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The cost to prepare bottom-up estimates will typically run how much more than the costs to prepare the top-down estimates?






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Typical kinds of costs found in a project include






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Project costs are typically viewed from all of the following except:






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Which of the following would be considered a direct project cost?






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Which of the following is not one of the recommended guidelines for developing useful work package estimates?






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Companies like Boeing, Kodak, and IBM are using which of the following for improving the estimating process?






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Reasons why estimating time and cost are important include all of the following except:






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In a learning curve, the improvement ratio is applied to which of the following items?






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The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as:






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Which of the follow top-down methods is used when projects closely follow past projects in features and costs and result in costs being assigned by pe...






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Resource shortages, in the form of people, equipment, or materials, is a good example of






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People working on prototype development needing time to interact with the design engineers after the design is completed is an example of:






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A manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project is an example of:






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Design flaws being revealed after the fact, extreme weather conditions, and accidents occurring are examples of: