# A cost baseline b funding limit reconciliation c

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a. cost baselineb. funding limit reconciliationc. reserve analysisd. activity resource estimate6.Jason, a project manager, is working with his team to estimate the total cost of developing a web-based CRM system. After reviewing the planned scope of work with Jason, his sponsor suggeststhat Jason use the budget from a previous, similar project as the basis for his project budget. Theestimating process that Jason’s sponsor is using is called ______.a. three point estimatingb. parametric estimatingc. analogous estimatingd. single point estimating7.One of the principle benefits of creating a bottom- up estimate during planning is that theestimate:a. can be created quicklyb. is very accuratec. matches the high level estimate in the project charterd. will not change once the project is in flight8.The amount of project budget reserved for unforeseen project work that addresses the “unknownunknowns” that can affect a project is the ______.a. project bufferb. funding limitc. contingency reserved. management reserve9.Ellen is estimating how much it will cost to re-carpet the executive conference room. Afterselecting the grade and pattern of carpet, Ellen multiplies the carpet price per square yard timesthe number of square yards in the conference room to derive the total price of the material. Thisestimating method is called ______.a. expert judgmentb. analogous estimatingc. parametric estimatingd. three-point estimating10.The budget within the cost baseline that is allocated for identified risks, for which mitigatingresponses are developed, is called the ______.a. contingency reserveb. management reservec. control accountd. activity cost estimate
NOTESProject Risk Planning205Self-LearningMaterial4.List three methods that can be used for categorizing project risks. For a fund raising project, giveexamples of risk using each categorizing method.5.To help identify risks, what are some questions a project manager could ask when reviewing theproject charter and WBS?6.You are hosting a large dinner party. What are two possible risks you would encounter? Identifyat least one trigger condition for each.7.Describe the various types of information that are often contained in the risk register. Why is eachincluded?8.What is the difference between major and minor risks? How is it calculated?9.List and describe at least three common quantitative risk analysis techniques. Under whatcircumstances would you find each one useful?10.List and briefly explain the eight common risk responses that are used. Describe how you mightuse two or three of them together on a project.Multiple Choice Questions1.A SWOT analysis is an information gathering tool that helps increase the range of identified risksby examining strengths, weaknesses, ______ and threats to a project.

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Term
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project manager