Pmg201c - Budgeting And Scheduling Projects Study Guide Questions And Correct Answers

Which one of these most correctly defines management reserve? A. Management reserve is not tied to specific work packages it is for the entire project. B. Management reserve is tied to a specific milestone or event. C. Per our lesson, management reserve and contingency are exactly the same. D. Management reserve is tied to specific work packages. {Ans: A}In a project schedule, the sequence of activities which cannot be delayed during the course of the project without extending the project end date is referred to as the: A. Schedule baseline B. Critical path C. Action plan D. Slack line {Ans: B}A significant event in a project that may indicate completion of a major phase is a/an: A. Activity B. Work package C. Deliverable D. Milestone {Ans: D}When you have good historical information which can be used in a reliable formula or model, you will probably use: A. Parametric estimating B. Analogous estimating C. Exact estimating D. Bottoms up estimating {Ans: A}True or False: The Project Budget is equal to only the cost baseline budget. {Ans: F}The WBS is used to derive all but one of the following: A. The project schedule baseline B. The business