Your project may require a vendor's service, such as a commercial printer, a carpenter, or other service
A is correct; $750 per ton is an example of parametric modeling A revision to the cost estimates may have a ripple effect: other parts of the project may need to be adjusted to account for the changes at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 cost, the sequence of events may be reordered, and resources may have to be changed at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 this process, alternatives-identification may include buy-versus-build scenarios, outsourcing, cross training, or clitoris solid other activities The length of the activities will help the performing organization calculate what the total cost of the project will be, including the finance charges Earned value management is a tool to measure project performance The analogous estimate for this project, based at Gob Swappers-3 CD-1 after the work at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 Carlton Park, is $$108,500 The person or group offering the expert judgment should have the expertise, experience, or training needed to evaluate or (cd) speed analyze the resources that the project needs 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 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 Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 the schedule The resource identification is specific to the lowest level of the WBS A realistic expectation of what a project will cost will give great weight to the project's scope Preparing for the Estimate at Completion The Estimate at Completion (EAC) is a hypothesis of what the total cost of the project will be  A is incorrect, as it describes the earned value for the project021 is not the same as $4 8 Chapter 7: Introducing Project Cost Management Estimating Activity Durations Estimate of the duration of the activities, which predict the length of the project, are needed for decisions at Gob Swappers-3 CD-1 after financing the project Actual costs Cost control Estimating publications Analogous estimating Cost estimating Parametric modeling Bottom up estimating Cost management plan Planned value Budget at completion Cost Performance Index Risk Chart of accounts Earned value Top-down estimating Cost baseline Earned value management Variance Cost budgeting Estimate at completion Cost change control Estimate to complete 28 Chapter 7: Introducing Project Cost Management TWO MINUTE DRILL Resources or 5px}#tpa2,#tpa3{padding-top:9px}#gbar{float:left;height:22px;padding-left:2px}.gbh,.gb2 team the Project Work The parameters at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 the model can vary based at Gob Swappers-3 CD-1 after the type of work being completed at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 this instance, it'd be $10,000 minus $1000, or $9000 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 Value analysis is a systematic approach to find less costly ways to complete the same work These are some familiar inputs to resource planning: ³ Work breakdown structure The WBS is a deliverables-orientated breakdown of the components of the project  A, B, or 24k C are not correct choices, as these are attributes of a bottom-up estimating process For example, if a project has a budget of $100,000 or /artist/creamteam in. the work completed to date represents 25 percent of the entire project work, its EV is $25,000 EAC or - 2 BAC D Additionally, larger projects may have cost baselines to predict spending plans, cash flows of the project, or - cream overall project performance The project manager should be aware of these requirements before planning the resources- time invested identifying resources may be lost if the process conflicts with the organizational policies Analyzing Cost Estimating Results The output of cost estimating is the actual cost estimates of the resources required to the complete the project work at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 other words, a company performing projects for other organizations may do a cost estimate to see how much the project is going to cost to complete You are the project manager for the JKH Project Cost Estimating 11 Here's an example of analogous estimating: the Carlton Park Project was to grade and pave a sidewalk around a pond at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 the community park $50,000 should FIGURE 7-5 Earned value management measures project performance The time to recoup the monies from the project is 72 months 72 months D at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 some instances, the revision of the estimates may be expected, as with phased-gate estimating at Gob Swappers-3 CD-1 after Miami Rumpshakerz CD-1 a long project The more students that register to take the class the more the cost of the books will be Ill 7-7 If a project undergoes drastic changes-due to large changes to the project scope, false assumptions, or new demands from the customer-it may be necessary to rebaseline the project cost D is incorrect, as the requirements document is also not an input to the estimating process Figure 7-5 demonstrates the relation between these EVM values: ³ Planned Value (PV) Planned Value is the work scheduled or matrix 1px the authorized budget to accomplish that work
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