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Question 1  
Why is it necessary to consider the learning curve of resources on a project? 
A. To estimate labor costs properly 
B. To improve project team morale 
C. To determine the number of individuals needed for a project 
D. Collective bargaining contracts require it 

Question 2  
The budgeting approach based on the collective judgments of top and middle managers is called: 
A. top-down budgeting. 
B. bottom-up budgeting. 
C. activity budgeting. 
D. program budgeting. 

Question 3  
Which of the following does NOT require further analysis after major risks are identified using scenario analysis? 
A. Probabilities of each outcome 
B. Expected timing of each outcome 
C. Probability of each risk event occuring 
D. Expected involvement from the project team 


Question 4  
A problem with bottom-up budgeting is: 
A. individual team members may overstate their budget needs. 
B. lack of involvement from the project team. 
C. underestimating the project task’s budget requirements. 
D. project manager must rely on the accounting department to make special allowances for his/her project. 

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