Book Image

CompTIA Project+ Study Guide: Exam PK0-004 - Second Edition

By : Kim Heldman
Book Image

CompTIA Project+ Study Guide: Exam PK0-004 - Second Edition

By: Kim Heldman

Overview of this book

The CompTIA Project+ Study Guide, Second Edition is your comprehensive resource for taking Exam PK0-004. With 100% coverage of all exam objectives, this book gives you everything you need to approach the exam with confidence. Detailed explanations and superior study tools cover and reinforce setup, initiation, planning, execution, delivery, change, control, communication, and closure, and the author Kim Heldman's twenty-five years of project management experience provide deep insight into real-world applications. The book contains detailed explanations and superior study tools that cover and reinforce all the exam objectives. You’ll begin by tackling questions related to pre-project setup and project initiation. Then you’ll solve questions about creating a project charter and planning it. You’ll also take questions about developing schedules and budgets and project execution. The later chapters provide questions on managing change, control, and communication. Finally, you’ll be given questions on project closure. By the end of the book, you’ll have the knowledge you need to be confident on exam day.
Table of Contents (17 chapters)
Free Chapter
1
Acknowledgments
2
About the Author
15
Advert
16
EULA

Chapter 7: Defining the Project Budget and Risk Plans

  1. D, F. The labor is $75/hour times 10 trees is $750. This is the parametric method of estimating because you are multiplying the quantity times the rate. Analogous estimating involves using estimates from similar projects, and three-point estimates use the average of three estimates.
  2. B. Top-down estimating is another name for analogous estimating.
  3. B. A work effort estimate or person-hour estimate is used to develop the cost estimates. This is the amount of time it will take to complete the task from beginning to end without accounting for work breaks, holidays, and so on. Duration estimates account for holidays, work breaks, and so on. Bottom-up estimates are estimates for individual components of work that are rolled up into the overall estimate, and parametric estimates are usually derived by multiplying quantity by rate.
  4. C. A contingency fund is an amount allocated to cover the cost of possible adverse events, and the project manager...