1. Which of the following is not one of the recommended guidelines for developing useful work package estimates?

A) Estimates should be made by those responsible for the work

B) Use several people to estimate the same work

C) Estimates should be based on normal conditions

D) Estimates should include a normal level of contingency

E) Estimates should be independent of other projects

2. Reasons why estimating time and cost are important include all of the following except:

A) To schedule work

B) To determine how long the project should take and cost

C) To develop cash flow needs

D) To determine how well the project is progressing

E) All of the above are valid reasons

3. Which of the following are not bottom-up approaches for estimating project times and costs?

A) Range Estimating

B) Parametric Procedures Applied to Specific Tasks

C) Consensus Methods

D) Appropriation Technique

E) Both C and D

4. As part of your project, you must develop Product Specifications. The fulfillment of this requirement is best typed as a(n) on your project network:

A) Event

B) Path

C) Activity

D) Node

E) Milestone.