A)

B)

C)

D)

E)

F

Quick multiple choice

Contingency money is: A. The money that must be received before any project work can begin. B. Money that is spent first to lock-in all contract guarantees. C. Not usually a part of the activity-based costing process. D. Valued at a higher rate than non-contingency money when determining project cos Three workers complete a full 8-hour day finishing concrete for a terrace. All three workers are paid R12 an hour and the job bills to the customer for R450. What are the total direct labor costs? A. R450 B. R12 C. R288 D. R96 The charge that is most likely a fixed cost is for: A. Materials. B. Equipment rental. C. Direct labor. D. Utilities. A plan that identifies the allocated resources, the project's goals, and the schedule that allows an organization to achieve those goals is: A. The work breakdown structure. B. The risk management plan. C. The statement of work. D. The project budget. Cost estimates that are based as a guideline on real numbers, or figures derived after the completion of preliminary design work, are: A. Definitive estimates. B. Order of magnitude estimates. C. Parametric estimates D. Feasibility estimates. A key for developing project cost estimates is to: A. Cost the project while considering the total package. B. Cost the project on a work package and task basis. C. Cost the project on a major module basis. D. Cost the project and add 33% for contingency