5 Questions
What are common sources of project cost?
Labor, materials, subcontractors, equipment & facilities, travel
What are the types of costs mentioned in project management?
Direct vs. Indirect, Recurring vs. Nonrecurring, Fixed vs. Variable, Normal vs. Expedited
What is the formula for determining total direct labor costs for a project?
$Total hinspace direct hinspace labor hinspace costs = Labor hinspace rate imes Hours hinspace worked$
What is the definition of expedited cost in project management?
Cost of an activity when it is speeded up
What are examples of indirect costs mentioned in the text?
Overhead, administration, marketing
Test your knowledge of cost estimation and budgeting in project management with this comprehensive quiz. Covering project selection, portfolio management, risk management, resource management, and more, this quiz will help you gauge your understanding of essential project management concepts.
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