Practice Quiz

PMI PMP Project Management - Question List

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126. Tim just finished a project at Wired4Less. His project came in $10,000 under budget, but then it’s determined that maintenance needs to be done on the application which will cost the firm $45,000 more next year. What concept does this issue best exemplify?
  1. Value analysis
  2. Life cycle costing
  3. Bottom-up estimating
  4. Excellent leadership
  5. None of the above
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127. Jan the Project Manager has gathered all of the estimates from her team members with respect to their particular work packages and has worked them up into one project estimate she’s going to present out to management. This is an example of what type of estimating?
  1. Analogous
  2. Bottom-up
  3. Parametric
  4. 3-point
  5. Top down
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128. Tom has drawn up an estimate for his project that he’s projected is accurate within 40 to 60 percent of actual cost. This type of estimate is classified as:
  1. Definitive
  2. Rough Order of Magnanimity
  3. Rough Order of Magnitude
  4. One helluva guess
  5. Analogous estimate
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129. What is a standard range for a Rough Order of Magnitude estimate?
  1. -25% to 50%
  2. -50% to 50%
  3. 50% to 100%
  4. -100% to 100%
  5. -50% to 100%
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130. What is a standard range for a definitive estimate?
  1. -10% to 5%
  2. -25% to 10%
  3. -5% to 10%
  4. -10% to 25%
  5. -10% to 10%
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