PROJ 592 Project Cost and Schedule Control – DeVry

PROJ 592 Week 3 Quiz (Version 1)

1. Question : (TCO B) Three-point estimate: The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to their voice! Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials are difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team. Current estimates for cost of material are as follows:
2. Question : (TCO A)  Your manager has asked you as a project manager, “How does the Bottom-Up budgeting process work? I hear the terms bottom up and top down.”
Explain the 4 basic steps in the bottom-up budgeting approach by identifying the organizational level (Upper Management, Functional Management, and Project Management) and type of budget prepared at each step. For each type of budget, explain why it is used at this level.
3. Question : (TCO B) You have been requested to provide a contingency estimate for a project involving the manufacturing of a new television. You are provided with the following component and labor estimates, together with the type of estimate:………………………..
4. Question : (TCO A) We are now in week 3 and have only discussed the plan. It is as if we will never get to work and make this project happen. Why are we taking so much time to develop the project plan, and how does that fit with monitoring and control? For full credit you must provide specific reasons and justifications, not just generalities.
5. Question : (TCO A) An environmental consulting firm has been hired to clean up contaminated groundwater beneath the site of a former chemical factory. The clean-up design process consists of evaluating several  alternatives, preparing a conceptual design for the most appropriate alternative, evaluating the conceptual design by performing a small scale pilot test on site, and, based on the results of the pilot test, preparing a final design. Installation of the clean-up system will be performed by subcontractors under the supervision of the consultant. 

PROJ 592 Week 3 Quiz (Version 2)

1. Question : (TCO B) Three-point estimate: The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to their voice! Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials are difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team. Current estimates for cost of material are as follows:
2. Question : (TCO A) Single-project budgeting must fit into the overall budgeting process of the organization and the company as a whole. As a project manager for one of your company’s projects, you have been asked to provide a brief description of the top-down approach to the budgeting process. Explain the three basic steps in the top-down budgeting approach by identifying the organizational level (Upper Management, Functional Management, and Project Management) and type of budget prepared at each step. For each type of budget, explain why it is used at its level.
3. Question : (TCO B) You have been requested to provide a contingency estimate for a project involving the manufacturing of a new television. You are provided with the following component and labor estimates, together with the type of estimate:………………
4. Question : (TCO A) We have discussed the project plan and are taking considerable time developing processes for creating it. This seems to be in conflict with the description of the course, which is Monitoring and Control. Why are we taking so much time to develop the project plan, and how does it fit with monitoring and control? For full credit you must provide specific reasons and justifications and not just generalities.
5. Question : (TCO A) A consumer electronics firm is planning an expansion into Milwaukee. Generally, the firm prefers to remodel large existing tenant spaces to suit their needs. After a site is selected from several…………….

PROJ 592 Week 3 Quiz (Version 3)

1. Question : (TCO B) Three-point estimate: The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to their voice! Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials are difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team. Current estimates for cost of material are as follows:
2. Question : (TCO A) Your manager has asked you as a project manager, “How does the Bottom-Up budgeting process work? I hear the terms bottom up and top down.” Explain the 4 basic steps in the bottom-up budgeting approach by identifying the organizational level (Upper Management, Functional Management, and Project Management) and type of budget prepared at each step. For each type of budget, explain why it is used at this level.
3. Question : (TCO B) You have been requested to provide a contingency estimate for a project involving the manufacturing of a new television. You are provided with the following component and labor estimates, together with the type of estimate:
4. Question : (TCO A) Our company has a limited time to complete our project to develop a new product. We have been assigned as the project manager and are in the process of developing a project plan. The executives are impatient with us and are “encouraging” us to move on and get started on the “actual work.” Why are we taking so much time to develop the project plan, and how does that fit with monitoring and control? For full credit you must provide specific reasons and justifications, not just generalities.
5. Question : (TCO A) An environmental consulting firm has been hired to clean up contaminated groundwater beneath the site of a former chemical factory. The clean-up design process consists of evaluating several alternatives, preparing a conceptual design for the most appropriate alternative, evaluating the conceptual design by performing a small scale pilot test on site, and, based on the results of the pilot test, preparing a final design………….