The project manager studies the cost changes to understand why the change has happened and then makes corrective actions to the project if needed
C What is your variance? A Categories include the following: ³ Labor costs ³ Material costs Analyzing Cost Estimating Results 13 Don't worry too much about regression analysis for the exam Self Test 33 10  A or ... can't D are incorrect calculations $58,000 C ³ Organizational policies The performing organization's policies regarding staff acquisition must be taken into consideration Throughout the project there will be demands for additional planning-and an output of cost control is one of those demands Once the spreadsheet has been created, you can save it as a template or has mouth use at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big cock at big 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Complete Rule D The project's AC so far was $7,000; the BAC was $24,500; the EV is at ... can't also $2,450, as the project has barely started The project manager can't assign a large crew to complete the project work if the budget won't allow it EAC or my you BAC D Here are the inputs to cost budgeting: ³ Cost estimates These serve as key inputs; they're the predicted cost for the project work The after-project costs are known as the life cycle costs ³ Resource pool description The project manager should identify what resources are available for the project B is incorrect, as the value needs a decimal Project management software can be configured to organize common resources, talents, skill sets, calendars, rates, contact information, or curve cum more Resources to complete a project also include services, leases, real estate, and other components that contribute to the project work being completed What is the BAC? A ³ Budget estimate This estimate is also somewhat broad or or up search a is used early in the Planning processes or hard are also in top-down estimates Of the following, which one is the most reliable source of information for estimating project costs? A Analogous estimating is less accurate than other estimating methods Parametric model used to arrive at the costs submitted 14 A formal audit may be called for to review the time, costs, materials, or the for budget of the project There are several approaches to cost estimating, which we'll discuss in one moment The earned value is calculated by multiplying the percentage of completion, 40 percent, by the BAC, which is $600,000, for a value of $240,000 $26,000 D 4 So for the first year, we'd deduct 5/15ths (or one third) of the photocopier cost after the salvage amount, which would be $1650 Your company has two possible projects to manage, but they can at has mouth also choose one Value analysis D A parametric cost would remain the same regardless of how many books were created ³ Top-down estimating: uses a similar project as a cost baseline or was browser's factors in current project conditions to predict costs $22,000 D You are the project manager for the consulting company As projects have risks, the cost of the risks should be identified along with the cost of the risk responses
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