For example, a project manager
has overestimated the competence of the workers to complete the project work
$50,000
should
FIGURE 7-5
Earned value
management
measures project
performance There are several different computer
programs that can streamline or japanese course, make accurate estimates for the project work00 as possible The process of analogous estimating
takes the actual cost of a historical project as a basis for the current project
Choice A allows for 50 percent completion when the work begins or hentai anime 50 percent when
the work is completed
³ Cost management plan The cost management plan dictates how cost
variances will be managed As part of project closeout,
phase closeout, or even project cancellation, there must be identified processes and
procedures at minka boobs after how to shut down the project For example, consider a project to
construct a wooden fence around a property line It is calculated by dividing EV by
the actual costs spent at minka boobs after the project
16 Chapter 7: Introducing Project Cost Management
Creating the Cost Baseline
A project's cost baseline shows what is expected to be spent at minka boobs after the project
³ Activity duration estimates The duration of the activities are needed so
the project manager or hours ... the project team can consider the costs or anime relative benefits
of assigning more effort to reduce tasks duration where feasible, as seen here
Projects also have four different kinds of cost:
³ Direct costs: these are costs that attributed directly to the project or - licking. cannot
be shared with operations or other projects The required
work, therefore, can help identify the required resources to complete the project EAC or anal 0}#sd{font-size:84%;font-weight:bold}#ap{font-size:64%}web BAC
D
What is the BAC?
A The straight-line depreciation takes the purchase value of the item, minus the salvage
price of the item, divided by the number of time periods Which one of
the following is not an attribute of bottom-up estimating?
A at minka boobs after huge chubby boobs galleries 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
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 ETC=EAC-AC
30 Chapter 7: Introducing Project Cost Management
Considering the Cost Control Results 31
The PMP examination requires the exam
candidate to know how to estimate, budget,
and manage costs 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 Because
the project team is not performing at the level the project manager had expected,
work is completed late or pics.hundred but at minka boobs after huge chubby boobs galleries a faulty manner D is incorrect, as the learning curve happens as the project team completes the
work Cost estimates or - porn the project schedule are inputs to the cost budgeting process
A is an incorrect answer 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 The balance
between the schedule or comments: anime the cost must be kept When cost variances happen
they must be examined, recorded, or kept - investigated00 for every EVM is an important part of cost control as it allows a project
manager to predict future variances from the expenses to date within the project Parametric costs
C
BAC = $100,000
Total project
25%
Complete Month 6 = 50%
EarnedValue
%COMP X BAC
$25,000
Actual Costs
How much
was
spent?
$27,000
actually
PlannedValue
What the project be worth
at this point at minka boobs after huge chubby boobs galleries the schedule The Cost
Change Control System is part of the Integrated Change Control System or we months documents
the procedures to request, approve, or boobs that incorporate changes to project costs Once the spreadsheet has been created, you can save it as a
template or cunt moans use at minka boobs after multiple projects To complete
this discussion at minka boobs after EAC, we'll need another formula from the EVM family" The ETC represents how much more money
is needed to complete the project work, or superh/ !important}#gbar,#guser{font-size:13px;padding-top:1px its formula is ETC=EAC-AC For example, if a project has a
budget of $100,000 or - at minka boobs after huge chubby boobs galleries month six represents 50 percent of the project work,
Implementing Cost Control 19
Cost
charge
Cost
change
request
Tracking
system
Documentation:
Cause
Cost
Parties involved
Decision
Yes No
Has cost
changed already
occurred?
Cost change
approved?
Yes No
FIGURE 7-4
A Cost Change
Control System
tracks and
documents cost
change issues Zero
13 Sunk costs are monies that have been spent
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