Global Project Management Budgeting and Cost Estimation Quiz
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Questions and Answers

What is a factor influencing the quality of estimates related to project complexity?

  • Padding estimates
  • People
  • Project complexity (correct)
  • Project structure and organization
  • Which type of estimate is based on estimates of elements found in the work breakdown structure?

  • Top-down estimate
  • Bottom-up estimate (correct)
  • Group consensus estimate
  • Analogical estimate
  • In top-down estimates, who usually determines the project duration and total cost?

  • Team members
  • Top managers (correct)
  • Project managers
  • Stakeholders
  • What guideline suggests adding risk assessment to the estimate to avoid surprises to stakeholders?

    <p>Contingencies</p> Signup and view all the answers

    Which type of estimate is usually derived from someone who uses experience and/or information to determine the project duration and total cost?

    <p>Top-down estimate</p> Signup and view all the answers

    What factor influences the quality of estimates related to the planning horizon?

    <p>Project complexity</p> Signup and view all the answers

    What type of estimate is based on estimates of elements found in the work breakdown structure?

    <p>Bottom-up estimate</p> Signup and view all the answers

    Which guideline suggests the use of several people to estimate?

    <p>The use of several people to estimate</p> Signup and view all the answers

    What type of estimate is derived from analogy, group consensus, or mathematical relationships?

    <p>Top-down estimate</p> Signup and view all the answers

    What is the purpose of adding contingencies in estimating guidelines?

    <p>To avoid surprises to stakeholders</p> Signup and view all the answers

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