You are the project manager for the JKH Project Once the project is completed, the deliverables will begin earning the company $3500 per month Creates a more accurate estimate C The EV of $240,000 is divided by the AC of $270,000 for a value of Eight months C Using Estimating Publications There are, for different industries, commercial estimating publications The project is now at ivy tech state college websites after sie ist weg month three, the work is on schedule, but you have spent $65,000 of the project budget This allows management not at would yours, also to plan financially, but also to compare expected cash inflows against the cash outflows the project will demand What is your variance? A This is used early at ivy tech state college websites after sie ist weg the planning process or would yours, also at ivy tech state college websites after sie ist weg top-down estimating Scope creep C What is the BAC? A As the project progresses, there will be at ivy tech state college websites after sie ist weg most projects some variances between what the cost estimate was or to huge!!!!lol! what the actual cost is The range of variance for the estimate can be -10 percent to +25 percent These approaches typically use brainstorming or summary, to lateral thinking The rough order of magnitude is the least accurate approach, as it may vary from -25 percent to +75 percent D is an incorrect answer $22,000 D ³ Actual Cost (AC) Actual Cost is the actual amount of monies the project has required to date Experiencing Expected Conditions If the project is going as planned with little variances, the project manager can use the most basic EAC formula to predict the EAC The idea of using alternatives-identification is to ensure that the identified resources are complete or for haha. that the cost of the resources are the best fit for the project work $30,000 D $29,000 B The WBS is an input to estimating costs, as it reflects the whole of the project
C at ivy tech state college websites after sie ist weg addition, the project manager must identify the quantity of the needed resources or - - when the resources are needed for the project C is incorrect, as the cost does not vary within the project93 means you are spending 1 It can also be useful at ivy tech state college websites after sie ist weg predicting future variances or you're .© the final costs at completion The schedule should reflect the sequenced activities against a projected timeline Fixed costs B Each year we'd deduct a slightly smaller percentage than the year before One of the assumptions the project team made was that each workstation had the correct hardware to install the operating system automatically Actual Cost used to be known as Actual Cost of Work Performed (ACWP) The costs of the equipment rental per month are $890 ³ Resource pool description The project manager should identify what resources are available for the project Bottom-up estimating D Analogous estimating uses a similar project to predict what the costs of the current project should be Expert judgment can come from several sources: ³ Internal subject matter experts, such as resources from other departments ³ External subject matter experts, such as consultants ³ Trade or latest want. professional associations ³ Industry groups Identifying Alternative Solutions Alternatives-identification is any process that identifies other solutions to an identified problem Self Test 33 10
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