You are in the initial phase of a project and are doing an estimate for a project that requires a MRI lab for a hospital to be built. What is the estimate range you would use for this project?


A. -10% to +25%
B. -25% to +75%
C. -5% to +10%
D. -25% to +85%

Calculate the standard deviation for the following: Pessimistic=20, Optimistic=10, Realistic=17.

A. 6

B. Not enough information
C. 5.67
D. 1.67

Which of the following is an example of fixed formula status reporting?


A. Getting status updates from the project team
B. PV multiplied by % complete
C. The Project Manager updating the status reports quantitatively
D. 0%/100% rule

You are the Project Manager of an engineering project for a cellular base station with a one-year schedule as defined by the project management plan. You need a spectrum analyzer. During the procurement process, you have decided to rent this equipment. The
rental cost is $506 per month.

What type of cost is this?


A. Indirect
B. Direct
C. Fixed
D. Variable

Project A has a NPV of $275K US over 2.5 years. Project B has an IRR of 3.2%. Project C has a BCR of 0.89:1. Project D has four people on it and is encountering scope creep. Which of the following projects would stand the greatest chance of getting canceled?


A. Project A
B. Project B
C. Project C
D. Project D

Crosswind Custom Homes is building a customer's dream house. However, rain has delayed the finish by two weeks. The Project Manager evaluates the schedule and determines that by crashing, the project could be placed back on schedule. After discussing
this with senior management, the Project Manager has decided to crash the project. By doing so, the Project Manager is adding what to the project?


A. Time change
B. Responsibility
C. Cost change
D. Scope change

The IT initiative project is on schedule and under budget. The customer is pleased, but would like a scope change. As a result, a new team is brought in to help the existing team implement this scope change. Before the team arrives, senior management would
like to see where the project stands. Which of the following do you show them?


A. Milestone chart
B. Gantt chart
C. Work breakdown structure
D. Network diagram

Calculate the variance for the following: Pessimistic=20, Optimistic=10, Realistic=17.


A. 2.78
B. 5

C. Not enough information
D. 5.67

The project planning is progressing on schedule. The Project Manager and the team meet regularly and are ready to begin cost estimating. The customer needs an estimate as soon as possible. What estimating method should the team use?


A. Cost estimating
B. Parametric estimating
C. Bottom-up estimating
D. Analogous estimating

The Project Manager is creating an estimate for building a company WAN (wide area network). It is something that is new to the Project Manager and his team, and they want to make sure all the work of the project is covered. They decide to create a bottom-up
estimate. All of the following are advantages of this type of estimate except…


A. It provides supporting detail of the estimate
B. It provides team buy-in when they help create it
C. It takes a great amount of time to create

D. It has a greater degree of accuracy because of the detail at which it was created