Test 2 Chap 7
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| If a project budget is over funded, it will often __________. | produce waste and encourage slack management
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| Identify the statement that is not correct regarding a project budget. | The budget is not an expression of organizational policy
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| In order to develop a budget, the PM must forecast __________. | All of the above (the resources required, when resources will be needed, the cost of resources)
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| The traditional organizational budget is __________. | category-oriented
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| The authors identify __________ estimation errors as the two types of generic estimation errors. | random and systematic
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| The pattern of deviations in cost and usage used for exception reporting to management is called __________. | variances
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| __________ costs vary with output. | Direct
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| Unless the project manager is familiar with the firm’s __________ it will be very difficult to exercise budget control. | accounting system
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| The __________ form of budgeting has the advantage of using individuals closer to the work to provide estimates of resource requirements. | bottom-up budgeting
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| A possible reason for the poor record of project cost overruns is __________. | all of the above (scope creep, optimistic estimates, unaware of some costs)
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
bmarietto