单选题Which factor has the greatest impact on the estimated per unit labor cost for a project？（）A Historical informationB Use of outside vendorsC Change control processesD Human resource skill level requirements

By which means is a contractor able to control cost overruns due to changing requirements?

A Project data review

B Change order

C Purchase order amendment

D Change control

E None of the above.

19 It is argumentative whether project managers actually control costs. Which of the following is the most common element over which the project manager may have some degree of control?

A. Direct labor dollars

B. Direct labor hours.

C. Overhead rates.

D. Procurement costs.

E. None of the above

151 Sources for data on activity durations and resource requirements can be gathered from which of the following:

A. Past project records (historical data)

B. Commercial techniques (standard practices, rules of thumb)

C. Past project team members knowledge (experience, oldtimers)

D. All of the above

E. A and C only

2 Ice-Time Ltd (ITL) manufactures a range of sports equipment used in a variety of winter-sports in Snowland.

Development engineers within ITL have recently developed a prototype of a small engine-propelled bobsleigh named

the ‘Snowballer’, which has been designed for use by young children. The directors of ITL recently spent ￡200,000

on market research, the findings of which led them to believe that a market exists for the Snowballer.

The marketing director has suggested that ITL should use the ‘Olympic’ brand in order to market the Snowballer.

The finance director of ITL has gathered relevant information and prepared the following evaluation relating to the

proposed manufacture and sale of the Snowballer.

(1) Sales are expected to be 3,200 units per annum at a selling price of ￡2,500 per unit.

(2) Variable material, labour, and overhead costs are estimated at ￡1,490 per unit.

(3) In addition, a royalty of ￡150 per unit would be payable to Olympic plc, for the use of their brand name.

(4) Fixed overheads are estimated at ￡900,000 per annum. These overheads cannot be avoided until the end of the

year in which the Snowballer is withdrawn from the market.

(5) An initial investment of ￡5 million would be required. A government grant equal to 50% of the initial investment

would be received on the date the investment is made. However, because the Snowballer would be classified as

a luxury good, no tax allowances would be available on this initial investment. The estimated life cycle of the

Snowballer is six years.

(6) Corporation tax at the rate of 30% per annum is payable in the year in which profit occurs.

(7) All cash flows are stated in current prices and, with the exception of the initial investment and the government

grant, will occur at the end of each year.

(8) The nominal cost of capital is 15·44%. Annual inflation during the period is expected to amount to 4%.

Required:

(a) Calculate the net present value (NPV) of the Snowballer proposal and recommend whether it should be

undertaken by the directors of ITL. (4 marks)

The project(73)is a key input to quality planning since it documents major project deliverables, the project objectives that serve to define important stakeholder requirements, thresholds, and acceptance criteria.

A．work performance information

B．scope statement

C．change requests

D．process analysis

“Cost of quality”is a project management concept that includes cost of( 73)

A.exceedings requirements

B.Changes to the requirements

C.Ensuring conformance to requirements

D.The quality control requirements

In all projects,needs must be tempered by schedule,cost and resource constraints.Project success depends primarily on （74）

A.the quality of the schedule and cost control analysis

B.customer satisfaction

C.customer compromise in defining its needs

D.exceeding customer requirements through gold-plating

144 Project cash reserves are often used for adjustment in escalation factors which may be beyond the control of the project manager. Other than possibly financing (interest) costs and taxes, the three most common escalation factors involve changes in:

A. Overhead rates, labor rates and material costs.

B. Overhead rates, schedule slippages, and rework.

C. Rework, cost-of-living adjustments, and overtime.

D. Material costs, shipping cost, and scope changes.

E. Labor rates, material costs, and cost reporting

139 By which means is a contractor able to control cost overruns due to changing requirements? A. Project data review

B. Change order

C. Purchase order amendment

D. Change control

E. None of the above

● Sources for data on activity durations and resource requirements can be gathered from which of the following:

A Past project records (historical data)

B Commercial techniques (standard practices, rules of thumb)

C Past project team members knowledge (experience, oldtimers)

D All of the above

E A and C only

The project（）is a key input to quality planning since it documents major project deliverables,the project objectives that serve to define important stakeholder requirements,thresholds,and acceptance criteria

A.work performance information

B.scope statement

C.change requests

D.process analysis

●You have just taken control of a project in the middle of execution and need to learn who has approval authority for revisions in scope. (75)document provides this information.

(75) A. Resource assignment matrix

B. Change control plan

C. Project charter

D. Client organization chart

（ ）is the approved version of the time-phased project budget，excluding any management reserves，which can only be changed through formal change control precedures and is used as a basis for comparison to actual results.

A.The control accounts

B.Funding requirement

C.The cost estimates

D.The cost baseline