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Fill in blank study guide - OM 493 Final Exam Practice Test...

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OM 493 Final Exam Practice Test Questions Final Fill In the Blank Chapter 7 – 12 Rev. 1 Complete each statement. 1. Using good _________________________ can change the false perception that costs grow and failures are to be expected. 2. The main outputs of the ____________________ process are activity cost estimates, basis of estimates, and project document updates. 3. The main outputs of the ____________________ process are a cost performance baseline, project funding requirements, and project document updates. 4. The main outputs of the ____________________ process are work performance measurements, budget forecasts, organizational process asset updates, change requests, project management plan updates, and project document updates. 5. Information technology project managers need to be able to present and discuss project information in ____________________ terms as well as in technical terms. 6. ____________________ are revenues minus expenditures. 7. ____________________ allows you to see a big-picture view of the cost of a project throughout its life cycle. 8. ____________________ considers the total cost of ownership, or development plus support costs, for a project. 9. ____________________ costs or benefits are costs or benefits that are difficult to measure in monetary terms. 10. ____________________ cost is money that has been spent in the past. 11. ____________________ states that when many items are produced repetitively, the unit cost of those items decreases in a regular pattern as more units are produced. 12. A(n) ____________________ is a document that describes how the organization will manage cost variances on the project. 13. ____________________ costs are often much higher for contractors. 14. ____________________ uses project characteristics in a mathematical model to estimate project costs. 15. In practice, many people find that using a combination or hybrid approach involving analogous, bottom up, and/or parametric modeling provides the best ____________________.
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16. It is helpful to analyze the total dollar value as well as the percentage of the total amount for each major ______________________________ category. 17. It’s important for the team to ____________________ assumptions they made when developing the cost baseline and have several experts review it. 18. In addition to providing input for budgetary estimates, cost budgeting provides a(n) ____________________. 19. ____________________ has many cost management features to help you enter budgeted costs, set a baseline, enter actuals, calculate variances, and run various cost reports. 20. A(n) ____________________ is the original project plan plus approved changes. 21. After you total the EV, AC, and PV data for all activities on a project, you can use the CPI and ___________________________________ to project how much it will cost and how long it will take to finish the project based on performance to date. 22. In general, ____________________ numbers for cost and schedule variance indicate problems in those areas. 23. _________________________ and SPI less than one or less than 100 percent indicate problems. 24. The cost performance index can be used to calculate the ______________________________. 25. Many organizations now collect and control an entire suite of projects or investments as one set of interrelated activities in one place, called a(n) ____________________.
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Fill in blank study guide - OM 493 Final Exam Practice Test...

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