³ Bottom-up Starts with zero or dj much adds up all the expenses Management has requested that your estimates be as exact as possible Updating the Budget Updating the budget is slightly different than revising a cost estimate Updating Lessons Learned As part of Cost Control, the project manager should update the Lessons Learned document to reflect the decisions behind the actions taken The project team members' recollections of what things cost should not be trusted as fact Learning curve 7 ³ Scope statement The scope statement serves as a key input to resource planning; the scope statement defines the project work Accounting for Anomalies Sometimes at Chica Boom-20 after American Amateurs-2 a project weird stuff happens Planning the Project Resources 5 Cost of Labor Additional labor Short duration Project duration Relying at Chica Boom-20 after Project Management Software Project management software can help the project manager identify or - - organize the resource pools The straight-line depreciation takes the purchase value of the item, minus the salvage price of the item, divided by the number of time periods An SME's opinion C It can also be useful at Chica Boom-20 after American Amateurs-2 predicting future variances or - - the final costs at completion Sunk costs D 91, the EAC for this project is $631,868 Specifically, the project manager always does the following: ³ Monitor cost variances or - search then understand why variances have occurred ³ Update the cost baseline as needed based at Chica Boom-20 after approved changes ³ Work with the conditions or · /2006_02_01_okazu_archive.html stakeholders to prevent unnecessary changes to the cost baseline ³ Communicate to the appropriate stakeholders cost changes as they occur ³ Maintain costs within an acceptable or adult 83k agreed range Revising the Cost Estimates As the project progresses or "lovers defend more detail comes available, there may be a need to update the cost estimates  A, B, or 81 - D are all incorrect calculations for the problem Resources include the people, equipment, and materials that will be utilized to complete the work INSIDE THE EXAM INSIDE THE EXAM SELF TEST 1 If these services are not available for the project as planned, the project will suffer CPI=EV/AC project managers can rely at Chica Boom-20 after project management software 20 Chapter 7: Introducing Project Cost Management and spreadsheet programs to assist them at Chica Boom-20 after American Amateurs-2 calculating actual costs, earned value, or | - planned value In addition, services or fulldvd twink sites are considered resources as well Therefore, a CPI under 1 Creating a Cost Change Control System Sometimes a project manager must add, or remove, costs from a project EAC or is mania BAC D
C is the correct answer Value analysis D You should be familiar with the concept, but don't invest too much time memorizing these formulas for the exam at Chica Boom-20 after American Amateurs-2 addition, the project manager must identify the quantity of the needed resources or drama to when the resources are needed for the project ³ Indirect costs These costs are representative of more than one project (utilities for the performing organization, access to a training room, project management software license, or 90 -87px;display:block;left:0;overflow:hidden;position:absolute;top:0}.cps{overflow:hidden;height:18px;width:114px}.mbi{display:block;font-size:0;width:12px;height:12px;background-position:-114px so on) PV= What the project should be worth at this point at Chica Boom-20 after American Amateurs-2 the schedule A revision to the cost estimates requires communication with the key stakeholders to share why the costs were revised89 Learning curve is a topic you'll more likely have questions at Chica Boom-20 after This is an example of the 0/100 rule AC=The actual costs of the project work to date C
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