Crowdly

Documents from prior projects.

Work breakdown structure.

Process flowcharts.

SOW.

Risk checklists (select all that apply):

List the factors identified as risks based on experience and common sense.

Are updated as experience grows.

Can be purchased from textbook publishers.

Incorporate the judgement of experienced team members.

The principle of risk transfer uses contractual incentives or penalties to shift the risk from one party to another.

A risk in which the expected value consequence is small should be ignored.

In general, a larger variance in the estimated duration time or cost for an activity represents greater risk for that activity.

The “acceptable level of risk” in a project is a matter of judgement.

FMEA stands for (choose one)

Future Methods, Events, and Activities

Failure Mode and Effects Analysis

Familiar Methods for End-item Analysis

Which of the following contribute to project cost escalation (select all apply)

Labor strikes, legal action by interest groups, trade embargoes, and materials shortages

Changes in requirements or the end-item design

Ambition and bias on the part of project champions and promoters

Egos of the estimators

Lack of information when estimates are being prepared

Which of the following are elements of project estimates and budgets (select all that apply)

resource constraints

schedule buffers

acceptance requirements

general and administrative expenses

slack times

direct and indirect overhead

direct labor expenses

direct non-labor expenses

The difference between forecasted income during the project and estimated expenditures during the project is the amount of working capital needed to meet expenses.