Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Which estimating method experiences more[…]
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“In order to get labor cost, you multiply by the__________ number of work hours estimated.”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“In order to get labor[…]
Read more“As you do your initial cost estimates for your various restaurant projects, you should use the bottom-up estimation method.”
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Read moreIn which of the following instances would you use a bottom-up estimation method?
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.In which of the following[…]
Read moreSerge and the architect estimate that the renovation of the restaurant space will cost $380/sq ft. What is this an example of?
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Serge and the architect estimate[…]
Read more“Based on the project expertise and effort required to develop bottom-up estimates, they are normally developed during which phase of a project?PlanningExecutionClosingDefiningIncorrect. The project closing phase is when the project outcomes are delivered to the customer and the customer evaluates them to determine if they are acceptable.”
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Read moreAestimating method starts at the bottom level of the WBS and aggregate cost estimates up to the total project and they require that people with expertise in doing the work estimate the resources needed to complete each work activity.Incorrect. Parametric estimating methods are top-down estimating methods that are based on the relationship between the current project and historical data.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Aestimating method starts at the[…]
Read moreWhat kind of costs are included in the budget to cover unexpected scenarios that may occur?ContingencyDirect costsGeneral and administrative costsManagement reservesIncorrect. A management reserve is an amount added to the overall project budget to cover unknown project risks.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.What kind of costs are[…]
Read moreWhich of the following is a good tool to assist in generating a calendarized budget because it shows how much of each resource is required for each time period?Project planResource allocation histogramFull-time equivalentBaseline budgetIncorrect. The FTE is not a tool for generating a calendarized budget. Labor costs are calculated by multiplying FTE and the number of work hours estimated.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Which of the following is[…]
Read more“Which of the following is a characteristic, function, or capability that must be present in the project’s final outcome?Project requirementMilestoneRequirements Traceability MatrixCritical pathIncorrect. Within the project schedule, key milestones indicate critical events and other activities that must be performed by specific dates before the project may proceed.”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Which of the following is[…]
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