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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