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Questions and Answers
Which of the following are PMBOK process groups? (Select all that apply)
What does PMBOK stand for?
Project Management Body of Knowledge
The Earned Value Method is a process used in project scheduling.
True
What is meant by 'resource leveling' in project management?
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The process group that involves monitoring project progress is called ______.
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Which of the following are needed to define the activity in project management? (Select all that apply)
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Match the terminology with their definitions:
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What are pre-design budgets usually based on?
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Which budgeting method involves an expanded itemization of construction quantities?
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Overhead costs only include labor and materials.
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What is the purpose of matrix costing?
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The average cost per square foot may still be used in the ______ stage of budgeting.
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What are the two components of construction cost related to the contractor?
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What budgeting approach uses historical cost information for subsystems?
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Study Notes
PMBOK Process Groups
- Initiating, Planning, Executing, Monitoring and Controlling, Closing
PMBOK stands for...
- Project Management Body of Knowledge
Earned Value Method
- A project scheduling process that helps track cost and schedule performance
Resource Leveling
- A project management technique that optimizes resource allocation to avoid peaks and troughs in resource demand, ensuring smoother project execution.
Monitoring Project Progress
- Monitoring and Controlling process group
Defining Activities in Project Management
- Activity description, Activity duration, Activity dependencies, Activity resources
Construction Cost Terminology
- Pre-design budgets: Conceptual estimates, based on historical data and similar projects
- Unit cost method: Budgeting method that breaks down construction quantities into detailed components
- Overhead costs: Include indirect costs like insurance, permits, and administrative expenses, not just labor and materials
- Matrix costing: A detailed cost breakdown structure, comparing different options and materials, useful for optimizing project cost and performance
- Average cost per square foot: **A simple budgeting method often used in the preliminary design stage
- Contractor's costs: Direct costs (labor and materials) and indirect costs (overhead and profit)
- Analogous estimating: Budgeting approach that relies on historical data from similar projects
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Description
Test your knowledge on the Project Management Body of Knowledge (PMBOK) Guide. This quiz covers essential concepts including project phases, budgeting, scheduling, and various project management techniques. Assess your understanding of the processes involved in managing successful projects.
