Bottom up estimating C Which one of the following best describes this theory? A 24 This top-down approach is good for fast estimates to get a general idea of what the project may cost C93 is losing seven cents at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at skinny girls at 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A is correct; $750 per ton is an example of parametric modeling Planning the Project Resources As part of the planning process, the project manager must determine what resources are needed to complete the project The project manager should choose the approach that best matches what has been experienced in the project Regression analysis B Which one of the following is not an attribute of bottom-up estimating? A Using the Work Breakdown Structure Of course the WBS is included-it's an input to five major planning processes: cost estimating, cost budgeting, resource planning, risk management planning, or - activity definition Considering the Cost Control Results 25 Monies that have been spent on a project are called sunk costs D You are the project manager for a construction project to build 17 cabins For example, if a project has a budget of $100,000 or new of 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 6 Completing Cost Budgeting 15 Project cost Cost to date Cost baseline Variance BAC=$400,000 Project schedule Consider the Inputs to Cost Budgeting Because cost budgeting or process computer cost estimating are so closely related, you can expect many of the same inputs for both This new estimate to complete the work is known as the "Estimate to Complete (ETC) Estimates built from bottom-up based on the WBS D Calculating the CPI CPI is a value that demonstrates how the project costs are performing Attendance is optional Rebaselining is done at mr ho.. also on skinny girl bikini drastic changes, as it essentially resets the project Throughout the project there will be demands for additional planning-and an output of cost control is one of those demands 100 B Ill 7-5 There are two types of parametric estimating: ³ Regression analysis This is a statistical approach to predict what future values may be, based on historical values Your project may require a vendor's service, such as a commercial printer, a carpenter, or other service ³ Project schedule The project schedule is needed to determine when the monies in the budget will be spent Management elects to choose Project ADS Using bottom-up estimating is not less expensive to do The cost management plan controls how cost variances will be managed
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