a. c. C. 1. The total project cost is often estimated during the_phase of the project or when the project charter or a proposal is pre pared a. initiating b. planning c. performing d. closing 2. Equipment costs in the project costs estimate are for equipment that the organization wants to have. b. that is the latest upgrade, even if not needed for the project. that must be purchased as part of the project. d. needed by others in the organization that may not be assigned to the project. 3. Travel costs in the project costs estimate are for a.travel (other than local travel) required during the project. b. all travel by the organization. c. travel costs for local meetings. d. travel for conferences that may not be related to the project. 4. It may be easier to estimate the costs for_, but as the project progresses, the project team can progressively elaboratet he estimatedcosts as more information is known or becomes clear to allow for more accurate estimated costs. a. near-term activities b. activities near the end of the project new activities with new procedures d. activities with long durations 5. Allocating total project costs for the various elements to the appropriate work packages will establish a. the committed costs for the work package. b. the anticipated expense for the work package. c. how to apply resources to the work package. d. a total budgeted cost (TBC) for each work package. 6. When the budgets for all the work packages are summed, a. they should exceed the amount of funds available. b. they cannot exceed the total project budgeted cost. c. if the total is too high then the amounts should be force-fitted into the customer's budget. d. if the total is too low then extra non-project expenses should be added. 7. The is the amount that was budgeted to accomplish the work that was scheduled to be performed up to that point in t ime. a total budgeted cost (TBC) b. cumulative actual cost (CAC) cumulative budgeted cost (CBC) d. cumulative earned value (CEV) 8. To keep track of_it's necessary to set up a system to collect, on a regular and timely basis, data on funds actually expended. a. budgeted cost of work scheduled b. planned cost of the project actual cost on a project d. budgeted cost of work performed 9. Costs are__when an item is ordered even though actual payment may take place at some later time. a. discharged b. committed c. postponed d. restrained 10. Determining the earned value involves collecting data on the percent complete for each work package and then converting thispercentage to a dollar amount by multiplying the_of the work package by the percent complete. total budgeted cost (TBC) b. cumulative budgeted cost (CBC) cumulative earned value (CEV) d. cumulative actual cost (CAC) c. C. a. C