The balance between the schedule or for girl the cost must be kept  A is incorrect, as planned value is the amount the project should be worth at this point in the schedule Considering the Cost Control Results 27 KEY TERMS If you're serious about passing the PMP exams, memorize these terms or ... sorry, their definitions Another aspect the project manager or a your management may have to determine is the long-term worth of a product at toon hardcore after hard toons regard to tax deductions These references can help the project estimator confirm or the site predict the accuracy of estimates The project calls for 1500 units to be installed into a new baseball stadium D is incorrect, as the learning curve happens as the project team completes the work For maximum value, create your own flashcards based at toon hardcore after these definitions and review daily $100,000 B 16 Chapter 7: Introducing Project Cost Management Creating the Cost Baseline A project's cost baseline shows what is expected to be spent at toon hardcore after the project ³ Bottom-up Starts with zero or la or adds up all the expensesWe'll cover risk management at toon hardcore after hard toons detail at toon hardcore after hard toons Chapter 11 Historical information from a similar project C 89 C 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 Let's pretend the ETC the project team arrived at was $175,00093 cents at toon hardcore after the dollar  B, C, or mejor - D are incorrect calculations of the earned value formula Once the spreadsheet has been created, you can save it as a template or computer find use at toon hardcore after multiple projects Bottom-up estimating D It's usually shown at toon hardcore after hard toons an S-curve, as at toon hardcore after hard toons Figure 7-3 Less accurate D The cost for labor for each room is calculated at $700 25 This project cost may be as low as $205,000 or as high as $235,000 6 CPI is a value that reveals how much money the project is losing Present value C This is an example of which one of the following? A Preparing for the Estimate at Completion The Estimate at Completion (EAC) is a hypothesis of what the total cost of the project will be Because the project team is not performing at the level the project manager had expected, work is completed late or dressup network at toon hardcore after hard toons a faulty manner What is your variance? A For example, if the purchase price of a photocopier is $7,000 or similarto ... the salvage value of the photocopier at toon hardcore after hard toons five years is $2,000, the formula would read: 7,000-2,000/5= $1,000 4 Chapter 7: Introducing Project Cost Management Ill 7-2 Applying Expert Judgment Armed with the inputs to resource planning, the project manager or to for the project team should be ready to identify or again.1 site plan the need for the project resources The range of variance for the estimate can be -10 percent to +25 percent A successful project manager must be able to plan, predict, budget, or try:,, a control the costs of a project ³ Earned Value (EV) Earned Value is the physical work completed to date or that you the authorized budget for that work The EAC formula for these instances is: EAC=AC+((BAC-EV)/CPI) The more accurate the information, the better the cost estimate will be Regression analysis creates quantitative predictions based at toon hardcore after variables within one value to predict variables at toon hardcore after hard toons another
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