) In performing bottom-up estimating, you take each activity in a work package and, in calculating the costs for that activity, take into consideration which of the following? Choose two.

Materials required

Work effort duration

Hourly or daily rate

Sick leave and vacation time

Paid holidays

2) From the list below, select the most precise form of project cost estimation.

Analogous

Top-down

Parametric

Bottom-up

Expert judgment

3) In which process is the majority of the project budget spent?

Initiating

Planning

Executing

Controlling

Closing

4) How is burn rate typically calculated?

CV

CPI

CPR

AC-PV

5) You'll use analogous estimating in the final stages of creating your project budget. (True / False)

True

False