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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a contingency budget?
💡 Hint: Think about why you would set aside extra money for a project.
Question 2
Easy
Name one of the categories that need to be budgeted in hardware development.
💡 Hint: Consider the different phases of a hardware project.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What percentage of the total budget is typically set aside for a contingency budget?
- 5–10%
- 10–20%
- 20–30%
💡 Hint: Think about common project management practices.
Question 2
Cost tracking is only important during the initial phases of a project.
- True
- False
💡 Hint: Consider whether costs can change throughout a project.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If a project's total budget is $800,000 and the contingency fund is set to 15%, how much should be allocated for unexpected expenses?
💡 Hint: Find 15% of $800,000.
Question 2
Discuss the potential consequences of insufficient budgeting in hardware projects and suggest strategies to mitigate those risks.
💡 Hint: Consider the aspects of project planning and what happens if budgets are not accurately maintained.
Challenge and get performance evaluation