Reason for cost uncertainty in projects include a Prices may escalate b

Reason for cost uncertainty in projects include a

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52.Reason for cost uncertainty in projects include; a.Prices may escalateb.Different resources may be requiredc.The project may take a different amount of time than was expectedd.All of the followingAnswer: d 53.After major risk are identified which of the following data should NOT be obtained for analysis
Short Answer 54. Define Top-down and Bottom-Up budgeting. Response: See pages 118 and 119 55. List the steps in performing FMEA. Response: See pages 138 and 139 56. Define the term learning rate. Response: See pages 127 and 128 57. Risk management includes what three areas? Response: See page 136-137 59. What is the Game Theory approach? Response: See page 139 59. Explain how you would use the shape of a project’s life cycle to resolve budget conflicts between a superior and subordinate. Response: See pages 120 and 121 60. Briefly contrast the three different perspectives cost can be viewed from. Response: See page 118 61. Contrast activity versus program budgeting. Response: See page 124 62. Briefly explain how learning curves can help improve the cost estimating process. Response: See pages 126 to 128 63. Explain how budget uncertainly changes as the project progresses. Response: See pages 133 and 136 64.What are the key elements of contingency planning? Response: See page 142 64How can you handle changes in the project budget? Response: See page 136 65.Explain the concept of Brook’s “mythical man month”? Response: See page 132 66.Explain the scenario analysis process Response: See page 137

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