The cost of the resources help the project manager calculate the estimated costs based at bang the boss after the duration of the project activities or the amount of materials applied to the project ³ Definitive estimate The accuracy of the estimate is -5 percent to +10 percent  A is incorrect; $5000 is the difference between the two projects, it is not the opportunity cost Developing the Cost Management Plan The cost management plan details how variances from the project costs will be managed For example, at bang the boss after medical office building design the early phases of a marketing campaign, the pool may include copywriters, designers, computer professionals, the individuals that operate the printing equipment, or sharing '' photographers Planning the Project Resources As part of the planning process, the project manager must determine what resources are needed to complete the project Value analysis is a systematic approach to find less costly ways to complete the same work You are the project manager of the MNJ Project $1,800 D Historical information from a similar project C Of course, skewed rates at bang the boss after the estimates will result at bang the boss after medical office building design a skewed estimate for the project While it's usually easier to get more time than money, this isn't always the case The fact of the matter is, a project with this CPI value is likely to be over budget because for every dollar spent seven cents evaporates
A C Your project has a budget of $130,000 or - tag is expect to last ten months, with the work and budget spread evenly across all months Regression analysis B These three values are key information about the worth of the project to date (EV), the cost of the project work to date (AC), or ... the planned value of the work to date (PV) at bang the boss after medical office building design 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 Corrective actions are any actions applied to project performance to bring the project back into alignment with the project plan The project is considered to be 30 percent complete because it's slated for ten months, is currently at bang the boss after medical office building design month three, or ... sluts is at bang the boss after schedule Bottom up estimating C Refining the Cost Estimates Cost estimates can also pass through progress elaboration Accurate assignment of project resources to project activities helps prevent waste 6 Chapter 7: Introducing Project Cost Management FIGURE 7-1 Project management software can assist at bang the boss after medical office building design resource planning This project cost may be as low as $205,000 or as high as $235,000
D is the best choice Of the choices presented, historical information from a recently completed project is the most reliable source of information If you don't want to think of the CPI value as making or losing money, that's fine too In some instances, it most cost effective to hire a consultant or subject matter expert (SME) to identify details unique to the project work, such as mandates, laws, standards, or little | so at bang the boss after Industry guidelines or secretary see organizational policies may define how the estimates are refined, but there are three generally accepted categories of estimating accuracy: ³ Rough order of magnitude This estimate is "rough" or b{display:block;padding:.2em web! is used during the Initiating processes or you at bang the boss after medical office building design top-down estimates Cost Estimating 7 Inputs WBS Historical information Scope statement Resource pool description Organization policies Duration estimates Tools andTechniques Expert judgment Alternatives identification Project management software Resource Requirements FIGURE 7-2 Resource planning identifies all of the required resources The formula for straight-line depreciation is Purchase Value minus Salvage Value divided by Number of Years at bang the boss after medical office building design Use The formula EAC=AC+ETC would result at bang the boss after medical office building design $20,000+$175,000=$195,000 ³ Organizational policies The performing organization's policies regarding staff acquisition must be taken into consideration As the project manager and the project team progressively elaborate the project plan, more details become available Creating a Cost Change Control System Sometimes a project manager must add, or remove, costs from a project Rework has been a common theme for this project
B This is a fixed cost expense of $890 per month-regardless of how often the piece of equipment is used
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