Test

Review Questions

Name ____________________________

Answer the following questions:

1) What is a resource?

Resources are required to carry out the project tasks. They can be people, equipment, facilities, funding, or anything else capable of definition (usually other than labor) required for the completion of a project activity.

2) Why aren't resources assigned to summary tasks?

When organizing the tasks for a project, you can group the tasks that share characteristics or that will be completed in the same time frame under a summary task. Project managers sometimes call summary tasks .You can use the summary tasks to show the major phases and sub phases in the project. Summary tasks summarize the data of their subtasks, which are the tasks that are grouped beneath them. You can indent the tasks as many levels as needed to reflect the organization of your project.

3) What is the difference between Start, Prorated and End in association with costs?

The difference between Start, Prorated and End in association with costs is:

Start: at the start of a project cost incurred like fixed cast

Prorated: to estimate the cost is adjusted to get the preview of final cost

End: total cost incurred at the end of project

4) Give a real-world example of the difference between a fixed cost and a cost per use?

Fixed Cost:  (buy equipment) company bids $500 to clean carpet, cost of airline ticket…

Cost Per Use:  (rent equipment) Hourly rate on moving van, rental of shampoo machine, landing fee each time plane lands.

5) Why is a fixed cost entered with the task and not the resource?

Because the cost is the same no matter how many people, hours, materials used.   Not dependent upon the amount of time or number of resources it takes to complete.

6) Why is the resource cost for the Wiring Contractor $0.00?

Because the installation of the wiring is a fixed contractual price of $4000 – it will not matter how many hours the...