• 5

  What is the difference between cost estimating and determining the budget?

  1. A

     The project manager is only responsible for estimating, not budgeting.

  2. B

     Budgeting does not reflect historical models, but estimating does.

  3. C

     Estimating approximates expected costs while budgeting focuses on the timing of expenditures.

  4. D

     Estimating includes all phases of a project, whereas budgeting concerns only the execution of project work.

• 6

  The make vs. buy decision is part of which procurement process?

  1. A

     Procurement Management Plan

  2. B

     Conduct Procurements

  3. C

     Select Seller

  4. D

     Plan Procurement Management

• 7

  When determining a project stakeholders stake, you have determined that they are most concerned how things will run once the project is over. This falls into the category of:

  1. A

     Legal rights

  2. B

     Ownership

  3. C

     Decisions

  4. D

     Support and operations

• 8

  According to the PMBOK, which Project Management Office (PMO) has the highest amount of control over project work?

  1. A

     Managing

  2. B

     Supportive

  3. C

     Controlling

  4. D

     Directive