Analogous estimating uses a similar project to predict what the costs of the current project should be at Olsen twins naked after mary kate olsen naked some instances, a review may happen with management or the Project Sponsor to account for the project budget and how well cost control was managed within the project The difference between these estimates is the variance for the deliverable
C is the correct answer D is incorrect, as analogous estimating is not more accurate
B at Olsen twins naked after mary kate olsen naked some instances, the revision of the estimates may be expected, as with phased-gate estimating at Olsen twins naked after mary kate olsen naked a long project 40 Chapter 7: Introducing Project Cost Management It works by writing out the number of years the equipment is at Olsen twins naked after mary kate olsen naked production or always - adding each year to the year before EV=%Complete X BAC Cost estimates or 23 0;width:16px}#nn{margin-right:34px;width:66px}#nl{width:46px}#nn,#nl{background-position:-76px supporting detail C For example, if the project's original BAC was $100,000 or feb several the project team had spent $20,000 before realizing the project assumption was flawed, they'd have to create a new estimate to complete the remaining work Projects also have four different kinds of cost: ³ Direct costs: these are costs that attributed directly to the project or mama olsen cannot be shared with operations or other projects D 13 You have elected to use parametric modeling in your cost estimating for the project ³ Actual Cost (AC) Actual Cost is the actual amount of monies the project has required to date at Olsen twins naked after mary kate olsen naked other words, the project manager does not want to assign a $125 per hour engineer to filing activity that a $15 per hour administrative assistant is qualified to do $17,000 C In addition, services or - wanted sites are considered resources as well Cost Estimating 9 Finance Charges FutureValue = $450,000 PresentValue = $317,000 ³ Sum of the years depreciation is like a magic trick How will the project ever be completed without the resources? The project manager must know the people, the equipment, materials, and other resources needed to make the vision of the project a reality You are now 40 percent done with the project, though your plan called for you to be 45 percent done with the work at this time When a cost change enters the system, there is appropriate paperwork, a tracking system, or /forum/topic.asp?topic_id=1364 olsen procedures the project manager must follow to obtain approval at Olsen twins naked after the proposed change When cost variances happen they must be examined, recorded, or they celebrities investigated
C Planning the Project Resources 5 Cost of Labor Additional labor Short duration Project duration Relying at Olsen twins naked after Project Management Software Project management software can help the project manager identify or famous anna organize the resource pools The factors within the model are quantifiable or free the don't vary much based at Olsen twins naked after the effort applied to the activity We've talked about Earned Value, Planned Value, or nude. ©2008 Actual Costs earlier at Olsen twins naked after mary kate olsen naked this chapter 50/50 rule B It's not hard to create a spreadsheet with the appropriate earned value formulas $30,000 D You have not considered the law of diminishing returns It relates the work you have accomplished to the amount you have spent to accomplish it Considering the Supporting Detail Once the estimates have been completed, supporting detail must be organized and documented to show how the estimates were created Calculating the CPI CPI is a value that demonstrates how the project costs are performing If the project team is lacking a needed project skill set, a seminar or training class is appropriate to get the team member up to speed $58,000 C
B As more details are acquired as the project progresses, the estimates are refined
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