Bottom up estimation - Study guides, Class notes & Summaries

Test Bank for Engineering Economics Financial Decision Making for Engineers Canadian 6th edition TEST Bank Engineering Economics 6 th Edition Niall M. Fraser Elizabeth M. Jewkes Mehrdad Pirnia Engineering Economics, 6e (Fraser/Pirnia) Chapter 1 Engineering Decision Making 1.1 Multiple Choice Questions 1) Evaluation of an engineering project involves the following constraints A) financial, environmental, social and political constraints. B) technical and financial constraints. C...

Internal controls Process that is designed and implemented by an organization's management , board of directors and other employees to provide reasonable assurance that it will achieve its compliance, operating, and reporting objectives Cost Estimation Method: Parametric Estimating A cost estimation method that relies on a statistical relationship between historical costs and other variables, such as square footage. Cost Estimation Method: Analogous estimating A cost estimation method t...

Which if the following MUST be clearly defined in a project charter? Correct Answer-Scope Which of the following is the MAIN difference between an open-ended and close-ended problem statement? Correct Answer-An open-ended problem statement leads to multiple solutions while a close-ended one has limited solutions A project team member, Joe, has completed his project work. Although the project is not completed yet, Joe has been assigned by the PMO (Project Management Office) director to a ne...

CBAP V3 - BA Planning question and answers already passed 2024 Accountable - correct answer Person who is the decision maker and who is held accountable for successful completion of the task Adaptability - correct answer Ability to adjust techniques, styles, methods and approaches to suit the needs of the rapidly changing environment and also deal with a variety of stakeholders Adaptive approach - correct answer An approach where the solution evolves based on a cycle of learning and disc...

WBS Dictionary correct answers A document that provides a description of each component - who is responsible for development - statement of work (SOW) - important milestones - estimate of costs and required resources Resource Scheduling correct answers A collection of techniques used to calculate the resources required to deliver the work and when they will be required. 1. create a network activity diagram first 2. adjust according to resource availability Duration correct ans...

WGU C722 FINAL EXAM!! Q&A – PROJECT MANAGEMENT (Guaranteed Score A+) Three essential drivers that must be achieved to generate positive characteristics in project teams *** Cohesiveness, Trust, Motivation The five stages Dr. Bruce Tuckman (1965) introduced of group development *** Forming, Storming, Norming, Performing, Adjorning Forming *** In this stage, team members may be meeting for the first time. Often, no one really knows much about anyone else on the team. It may be prematur...

CBAP V3 - BA Planning Question and answers already passed 2024 Accountable - correct answer Person who is the decision maker and who is held accountable for successful completion of the task Adaptability - correct answer Ability to adjust techniques, styles, methods and approaches to suit the needs of the rapidly changing environment and also deal with a variety of stakeholders Adaptive approach - correct answer An approach where the solution evolves based on a cycle of learning and disco...

Work Breakdown Structure correct answers Provides a hierarchical structure that outlines the activities or work that needs to be done in order to complete the project scope. Work Breakdown Structure correct answers provides a bridge or link between the project's scope and the detailed project plan that will be entered into a project management software package. Milestones correct answers significant event or achievement that provides evidence that that deliverable has been completed or th...

APM - PFQ (PFQ) Practice Tests/ APM PFQ Exam Questions & Answers Test Bank_2023. Which of the following is not a stage in an issue resolution process? a. Share the issue with stakeholders. b. Track the issue to closure. c. Escalate to the sponsor. d. Apply change control. Which of the following are challenges for a project manager developing and leading a project team? 1) Issues and incompatibility amongst team members 2) Getting the right skills and attributes amongst team me...

ESTIMATING PROJECT COSTS 3 Introduction Many businesses are working within a specific budget and timeline when initiating projects. Jet On Demand, a company that brokers private flights for companies and consumers, wants to create an app for both Android and iOS users to book a flight. The Project Manager has a 7-month timeline and a $250k budget for the project. The project is currently in the planning phase, and the team still needs to complete a cost estimation and management plan for t...

CBAP V3 - BA Planning Exam Questions & Answers 2023/2024 Accountable - ANSWER-Person who is the decision maker and who is held accountable for successful completion of the task Adaptability - ANSWER-Ability to adjust techniques, styles, methods and approaches to suit the needs of the rapidly changing environment and also deal with a variety of stakeholders Adaptive approach - ANSWER-An approach where the solution evolves based on a cycle of learning and discovery, with feedback loops ...