Quiz – Cost-Benefit Mastery

Question 1 of 6

1. Question

Which standard establishes comprehensive assessment encompassing direct, indirect, and opportunity costs?

ISO 21502

Correct Incorrect Correct answer

ISO 9001

Correct Incorrect Correct answer

GDPR

Correct Incorrect Correct answer

SOX

Correct Incorrect Correct answer

Question 2 of 6

2. Question

What gives Cost-Benefit Analysis its analytical power across project lifecycles?

Net Present Value and temporal dynamics

Correct Incorrect Correct answer

Ignoring the time value of money

Correct Incorrect Correct answer

Counting only labor costs

Correct Incorrect Correct answer

Removing all contingencies

Correct Incorrect Correct answer

Question 3 of 6

3. Question

Which technique is used to address uncertainty in complex portfolios?

Monte Carlo simulation

Correct Incorrect Correct answer

Fixed single-point estimates

Correct Incorrect Correct answer

Gantt formatting

Correct Incorrect Correct answer

RACI charting

Correct Incorrect Correct answer

Question 4 of 6

4. Question

Beyond financial metrics, which dimensions strengthen credibility with stakeholders?

Social and sustainability dimensions

Correct Incorrect Correct answer

ROI figures alone

Correct Incorrect Correct answer

Labor rates alone

Correct Incorrect Correct answer

Vendor discounts alone

Correct Incorrect Correct answer

Question 5 of 6

5. Question

Match each cost type to its example.

Sort elements

Labor and resources on the project
Shared infrastructure overhead
Value of the best alternative foregone

Direct cost

Correct Incorrect Correct answer

Indirect cost

Correct Incorrect Correct answer

Opportunity cost

Correct Incorrect Correct answer

Question 6 of 6

6. Question

Fill in the blanks.

Cost-Benefit Analysis uses Fill in the blank 1 of 3 to weigh immediate and deferred impacts, while Fill in the blank 2 of 3 testing and Monte Carlo simulations address Fill in the blank 3 of 3 in complex portfolios.