Quiz 1 Study Guide
GRADED- Five Problem and Question Quiz - To be completed by the end of week 3.
This Quiz covers TCOs A, B, C, and E, Integrated Cost and Schedule Control in Project Management Chapters 1–5, and A Guide to the Project Management Book of Knowledge, fifth edition, Chapters 6 and 7. Covers Weeks 1, 2, and 3 • This quiz is worth 100 total points and includes five essay questions worth 20 points each. • You have 2 hours to finish the quiz. • Remember to save frequently, because when the time limit is reached you will be exited from the exam. • If you have any technical problems, please contact the Help Desk at 800-594-2402.
Answer questions with short, direct responses. For questions which require calculations, please show your calculations. Note: Detailed solutions are required to support your response and receive credit. Partial credit may be given for student responses where work is shown.
Solutions from previous sessions will not be correct. You will not be given part credit for pasting solutions from previous session quizzes. The questions and/or the numbers have changed.
Topics covered:
The five questions cover the following material. They will test your understanding not that you can paste a paragraph from the textbook. Explanations should be in your own words.
The budgeting process. Week 2 lecture notes How do we create project budgets? Is there more than one primary process? Compare and evaluate the processes. The estimating process and methods, what are they and how to use them.

• Be sure you discuss the estimating process not general project management at the levels. • Bottom up is not necessarily the best.
The use of estimating tools, What are they? How are they different? Why do we use each one?
Three point estimates: Ref: Week 2 Lecture notes, Demonstration Problem 2-2. {Pexp = (Popt + 4 x Pmost likely + Ppess)/6} • Cost per unit must include both material cost per measure and amount of material measures per unit.
WBS Ref: Week 1 Lecture Notes and Demonstration Problem 1-1 WBS (What it is, why it is important, can your create one).
The RACI, Working with a responsibility assignment matrix (RAM) sometimes known as a RACI (Responsible, Accountable, Consulted, Informed) What is it and what is its value? How do we use it?
Estimating methods:

You will encounter a question on your quiz describes a project and then asks you to recommend an appropriate estimation method for that project. There is often confusion what methods should be considered. You may disagree but for this quiz bottom up, analogous, and expert judgement are considered processes not methods. That leaves three common methods I will list here in alphabetical order: Parametric, three point, and Vendor bid analysis. Your answers should be from only these three.

You are free to disagree with these conclusions and are free to answer with any method you wish. Of course your grade depends upon getting the correct grade according to the instructor explanations.

You may encounter another question that asks you to compare estimating techniques. All of the above methods and processes are techniques. Do the comparisons independent of the classifications.