51.A cost estimation tool which used to allocate money into : 1525106
51.A cost estimation tool which is used to allocate money into an organization’s budget is known as a _____ estimate.
c.rough order of magnituded.ballpark
52.A _____ estimate is used for making many purchasing decisions for which accurate estimates are required and for estimating final project costs.
c.rough order of magnituded.final
53.Which of the following types of estimate use the actual cost of a previous, similar project as the basis for estimating the cost of the current project?
a.Definitive estimatesb.Parametric estimates
c.Bottom-up estimatesd.Analogous estimates
54.Analogous estimates are also known as _____ estimates.
55.Which of the following is true of analogous estimates?
a.Their main disadvantage is that they cost more than other techniques.
b.They are the only technique which do not require expert judgement.
c.They are most reliable when previous projects are similar in fact with current projects.
d.They use project characteristics in a mathematical model to estimate project costs.
56.A cost estimation tool which involves estimating individual work items or activities and summing them to get a project total is known as a(n) _____ estimate.
57.Which of the following is true of bottom-up estimates?
a.They are based on the actual cost of a previous, similar project.
b.They are also known as parametric estimating.
c.They are most accurate when they involve large, extensive work items.
d.They are time-intensive and expensive to develop.
58._____ uses project characteristics in a mathematical model to estimate project costs.
a.Rough order of magnitude estimatingb.Parametric estimating
c.Bottom-up estimatingd.Analogous estimating
59.Which of the following is most likely to be a reason for inaccuracies in information technology cost estimates?
a.Estimates take a long time to be worked out.
b.People lack estimating experience.
c.Human beings are biased toward overestimation.
d.Only software development provides the scope for estimates to be accurate.
60.If the cost estimate for a project is a basis for contract awards and performance reporting, it should be a(n) _____ estimate and as accurate as possible.
c.rough order of magnituded.analogous