PMG 323- Project Cost Management Cost Management Quiz

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Arizona State University *

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104

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Communications

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Jan 9, 2024

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1. Cary defines his role as an Ombudsman for the new researchers. a. True b. False 2. Cary says project cost is a political issue a. True b. False 3. As Project Manager, Cary looks for the information lacking in the initial stage. a. True b. False 4. ___________ _______ is the sponsor and ____________ is another stakeholder in the project. a. Engineering College, Cary Stoneman b. Researcher, ASU c. Engineering College, researcher d. Cary Stoneman, researcher 5. According to Cary, “programming” is another name for a. Requirement analysis b. Estimated cost c. Identifying project boundaries d. Cost-benefit analysis 6. Check all that impact the cost of Cary’s projects a. Physical space b. Safety c. Client needs d. Department goals 7. Cary’s statement on the expense not being the sole designator of the project cost is actually related to a. accepted risk b. project value c. researcher performance d. use of resources 8. Cary is talking about a country-wide movement on creating “research neighborhoods.” What do you think the cost impact will be in terms of space, client needs, and safety concerns? Your response should be 20-40 words. a. I think it could be costly in terms of space if there are specific areas that work best for these kinds of meetings and projects, so there are limited spaces. i. The client’s needs may be harder to fulfill if the group can’t work together to produce a quality product. ii. There could be safety concerns when gathering that many people together. 9. Given the advantages (cost share, prolonged life cycle, room to expand) and disadvantages (limited time for researchers due to sharing tools, change of schedule due to infrastructure concerns), of research neighborhoods, who benefits more from the
cost-benefit analysis? ASU/College or the researcher? Why? Write your answer in 20-40 words. a. I think the researchers benefit more than ASU. i. The organization takes the hardest hit after the project is said and done. ii. The organization needs to pay the researcher for their work, and the researcher gets paid after the completion of the project.
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