The project is now at busty filipinas after hot filipinas month three, the work is on
schedule, but you have spent $65,000 of the project budget Variances that cross a given threshold may require the project manager to
create a variance report to explain the variance, why it has happened, and
what corrective action has been applied to prevent the variance from recurring at busty filipinas after hot filipinas our
example, let's say the AC is $45,000; the BAC is $250,000; the EV is $37,5000;
and our CPI is calculated to be
Self Test Answers 39
18 Project spin off
D
planning also includes identifying the expected quantity of the needed resources so the
predicted cost can be calculated
³ Computerized tools The same software programs used at busty filipinas after hot filipinas estimating can
help predict the project budget with some accuracy B is incorrect,
as bottom-up estimating starts with zero or free filipina adds up the project costs
³ Parametric modeling Uses a
parameter for labor or ... - goods to
calculate
the cost of the project It is calculated by dividing EV by
the actual costs spent at busty filipinas after the project Learning curve
7 The WBS is the input that can help you the most with the cost estimates A is correct; $750 per ton is an example of parametric modeling For example, a project with a CPI of D is incorrect, as
analogous estimating is not more accurate You are the project manager for the Facility Installation Project Parametric model used to arrive at the costs submitted
14 Which one of the following methods of
estimating will provide the most accurate estimate?
A The rough order of magnitude is the least accurate approach, as it may vary from
-25 percent to +75 percent Time constraint
B
Ill 7-5
There are two types of parametric estimating:
³ Regression analysis This is a statistical approach to predict what future
values may be, based at busty filipinas after historical values The range of variance
for the estimate can be -10 percent to +25 percent D is also incorrect, though
it may prove valuable at busty filipinas after hot filipinas the planning process More expensive to do than other methods
D Efficiency increases as workers become more familiar with the installation procedure $1,800
D This is calculated by subtracting the actual costs of $65,000
from the earned value of $39,000 The more students that register to take the class
the more the cost of the books will be Use the
most common formula for finding the estimate
at completion, EAC=BAC/CPI
The project is now ten percent complete or or as may . is at busty filipinas after schedule
A is incorrect, as parametric modeling is a form of estimating, not an input
This is used early at busty filipinas after hot filipinas the planning
process or seek named also at busty filipinas after hot filipinas top-down
estimating The project is considered to be 30 percent complete because
it's slated for ten months, is currently at busty filipinas after hot filipinas month three, or inconvenience, no is at busty filipinas after schedule You are the project manager for a technical implementation project $26,000
D If the people
on a project do not have the necessary skill set
to complete the work, either hire an SME to
guide the project implementation, outsource
the project work, or train the current people
for the needed skills You are the project manager of the LKG Project B is incorrect; eight months is the amount of time left at busty filipinas after hot filipinas the
project schedule
For these instances, when events happen but the project manager doesn't expect
similar events to happen again, this EAC formula should be used: EAC=AC+BACEV
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