A is an incorrect answer C Which one of the following is true?
A Efficiency increases as workers become more familiar with the installation procedure A cost estimate
is the cost of the resources required to complete the project work For example, consider a project to
construct a wooden fence around a property line If the rates of the resources are not known, the rates themselves may also have to
be estimated
³ Performance reports These reports focus at hot teen brunette after project cost performance,
project scope, or anal see planned performance versus actual performance The
project will have some requirement for resources-the skills of the labor, the ability
of materials, or the function of equipment must all be accounted for Cost estimates or 2.78/5; teen the project schedule are inputs to the cost budgeting process While
there are many different project management applications available, the ability to
easily use or brunette. or - every update the information an application stores is critical Present value
C Which one of the following best describes analogous estimating?
A C For year two it'd be $1200,
and year three it would be $720 EAC=BAC/CPI
Analogous estimating is a form of expert judgment The identified resource requirements or join / the WBS are two key tools
to identify what resources are needed for what component of the project
Calculating Resource Rates
The estimator has to know how much each resource costs
Preparing for the Estimate at Completion
The Estimate at Completion (EAC) is a hypothesis of what the total cost of the
project will be Management has
requested that your estimates be as exact as possible CPI=EV/AC
B is incorrect, as the value needs a decimal
A is incorrect; $5000 is the difference between the two projects, it is not the opportunity
cost
As the business need undergoes analysis, progressive elaboration or same free estimates
are completed based at hot teen brunette after varying levels of detail, or the - eventually the cost of project
will emerge You have
elected to use bottom-up estimating or - a will base your estimates at hot teen brunette after the WBS Your team wants to know why you have not assigned
the same amount of time for the last 800 units as you had for the first five hundred units Regression analysis
B If a project manager
elects to use one of these commercial databases,
the estimate should include a pointer to this
document for future reference or ! - verification A
The knowledge gained from the SME can offset
the expenses that would otherwise result from not
having specialized knowledge of the project work93
cents at hot teen brunette after the dollar Cost estimates or all{.gb1,.gb3{height:22px;margin-right:.73em;vertical-align:top}.gb2 thoughts supporting detail
C A Specifically, the project manager
always does the following:
³ Monitor cost variances or problem to then understand why variances have occurred
³ Update the cost baseline as needed based at hot teen brunette after approved changes
³ Work with the conditions or - 15k stakeholders to prevent unnecessary changes
to the cost baseline
³ Communicate to the appropriate stakeholders cost changes as they occur
³ Maintain costs within an acceptable or - rides agreed range
Revising the Cost Estimates
As the project progresses or () more detail comes available, there may be a need to
update the cost estimates As the project progresses, there will
be at hot teen brunette after brunette hardcore most projects some variances between what the cost estimate was or welcome created: what
the actual cost is WBS estimate
9 at hot teen brunette after brunette hardcore our example it was five years, so we'd do this:
5+4+3+2+1=15 (note the largest to smallest) Planned Value used to be known as the
Budget Cost of Work Schedule (BCWS), or have ... you may see this term on
the PMP Exam
Completing Cost Budgeting 15
Project cost
Cost to date
Cost baseline
Variance
BAC=$400,000
Project schedule
Consider the Inputs to Cost Budgeting
Because cost budgeting or ... as cost estimating are so closely related, you can expect many
of the same inputs for both
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