Which of the following describes the Actual budgeting method? Does not include overhead costsConsiders historical budgetsAllows for cost overagesEstimates a value for each project activity

Which of the following describes the Comparison method of budgeting? Does not include overhead costsSets a cost for each project activity Does not include variations or changes in the budgetProvides a short cut for developing the budget

When budgeting a project, you should consider additional expenses such as warranties, supplies, add-ons, and upgrades. Which budgeting term refers to this concept? 1 pointBottom-up approachTotal cost of ownershipTop-down approachBaseline your project

Which of the following is not a method of creating a project budget?Top-down budgetingComparison budgetingActual budgetingRoll-up budgeting

Cost budgeting can be best described by which of the following?1. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation thatcould occur during the project2. The process of assembling and predicting costs of a project over its life cycle3. The process of establishing budgets, standards, and a monitoring system by which the investment cost of the projectcan be measured and managed4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis

As a project manager setting a budget, you factor in unexpected costs that may arise during the project. What budgeting strategy does this refer to?1 pointSetting a baselineBottom-up approachLeveraging expertsAdding a buffer and reserves