Question 1

What is a project budget?

Accepted Answer

Includes a detailed estimate of all costs that are likely to be incurred before the project is completed

Answer

The exact total cost to complete the project

Answer

Includes a detailed estimate of all costs for a particular phase out of the entire project

Answer

The estimated cost for one phase of a project

Question 2

Which technique does RSPO use to do budgeting?

Accepted Answer

Activity based budgeting

Answer

Zero based budgeting

Answer

Value proposition budgeting

Answer

Incremental budgeting

Question 3

What is resource management?

Accepted Answer

Practice of planning, scheduling, and allocating people, money, and technology to a project or program

Answer

Practice of identifying activities and managing resources related to the activities

Answer

Practice of managing people in a particular project

Answer

Practice of planning and managing resources in a project

Question 4

What tools can be used for budget allocation?

Accepted Answer

All of the mentioned

Answer

Pen and paper

Answer

Google sheet/ Microsoft Excel

Answer

Business Budgeting software

Question 5

What are the 3 types of resources in resource management?

Accepted Answer

People, Capital, Material

Answer

Time, Effort, Material

Answer

People, Time, Effort

Answer

Time, Capital, Material

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