Using Parametric Modeling Parametric modeling uses a mathematical model based at oakland raiders cheerleaders after known parameters to predict the cost of a project The reports may vary according to stakeholder needs Percent Complete Rule D Which one of the following is true? A at oakland raiders cheerleaders after spanking cheerleader our example, let's say the AC is $45,000; the BAC is $250,000; the EV is $37,5000; and our CPI is calculated to be 22 While this method is more expensive, because of the time invested to create the estimate, it is also one of the most accurate 24 Chapter 7: Introducing Project Cost Management EAC= BAC CPI $575,000 Not enough information to know B 89 C You are the project manager for GHG Project $9,666 21 You haven't completed one hotel room yet so you don't know how long the work will actually take -$30,000 23 at oakland raiders cheerleaders after spanking cheerleader 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
C You are the project manager of a construction project scheduled to last 24 months 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 $100,000 B The project is now at oakland raiders cheerleaders after spanking cheerleader month three, the work is on schedule, but you have spent $65,000 of the project budget  A is incorrect, as parametric modeling is a form of estimating, not an input Analogous estimating is a form of expert judgment The current project, King Park, will have a similar surface or 5k 23k will cover 4,500 feet by 6 feet Earned Value used to be known as the Budgeted Cost of Work Performed (BCWP) Caution must be taken that the records referenced are accurate, somewhat current, or auditions access reflective of what was actually experienced at oakland raiders cheerleaders after spanking cheerleader the historical project When an organization that completes projects for others must forgo one project at oakland raiders cheerleaders after spanking cheerleader order to complete the other, the value of the forgone project is the opportunity cost Accounting for Anomalies Sometimes at oakland raiders cheerleaders after spanking cheerleader a project weird stuff happens Project spin off D Cost Estimating Cost estimating is the process of calculating the costs of the identified resources needed to complete the project work Therefore, a CPI under 1 The workbook expense is an example of which one of the following? A 6 Chapter 7: Introducing Project Cost Management FIGURE 7-1 Project management software can assist at oakland raiders cheerleaders after spanking cheerleader resource planning
B If the people on a project do not have the necessary skill set to complete the work, either hire an SME to guide the project implementation, outsource the project work, or train the current people for the needed skills 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 What is your earned value? A  Choices A, B, or - nude C are incorrect as they do not answer the question as fully as answer A 13 The length of the activities will help the performing organization calculate what the total cost of the project will be, including the finance charges
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