Global Project Management Budgeting and Cost Estimation Quiz

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

Project complexity

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

Bottom-up estimate

In top-down estimates, who usually determines the project duration and total cost?

Top managers

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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