1. The process of forecasting or approximating the time and cost of completing project deliverables is called

A. Budgeting.

B. Predicting.

C. Estimating.

D. Planning.

E. Guesstimating.

3. Which of the following is NOT one of the factors that need to be considered to improve quality of estimates for project times and costs?

A. Planning horizon

B. People

C. Padding estimates

D. Profit

E. Project structure

5. The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as

A. Detailed WBS work package estimates.

B. Template method.

C. Function point method.

D. Time-phased cost estimates.

E. Phase estimating.

6. Typical kinds of costs found in a project include all of the following EXCEPT

A. Direct costs.

B. Project overhead costs.

C. General and administrative overhead costs.

D. Labor.

E. All of these are examples of costs found in a project.