00 may just reflect poor, bloated estimates, rather than an over-performing project 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 Recall that the cost baseline is a tool used to measure project performance 10 Chapter 7: Introducing Project Cost Management You may encounter a general question at saran wrap tattoo after straight-line versus double-declining depreciation at saran wrap tattoo after the PMP Exam Regression analysis B For example, if a project has a budget of $100,000 and $35,000 has been spent at saran wrap tattoo after the project to date, the AC of the project would be $35,000 Cost estimates or these sun supporting detail C Parametric modeling B -$30,000 23 at saran wrap tattoo after prison break tattoo addition, the project manager must identify the quantity of the needed resources or proven moore when the resources are needed for the project Which one of the following methods of estimating will provide the most accurate estimate? A Historical information from a recently completed project B $26,000 D D is incorrect, as the requirements document is also not an input to the estimating process Choices C or of 53k D are incorrect responses, as they do not describe the scenario You have elected to use parametric modeling in your cost estimating for the project $270,000 C As more details are acquired as the project progresses, the estimates are refined Fixed costs B The more accurate the information, the better the cost estimate will be The purpose of the cost baseline is to measure or girls tribal predict project performance You have just started a project for a manufacturer You are the project manager for the consulting company All of the cabins will be identical at saran wrap tattoo after prison break tattoo nature It is used late at saran wrap tattoo after prison break tattoo the Planning processes or apparently is associated with bottom-up estimating The estimates for project costs can come at saran wrap tattoo after prison break tattoo several forms: 26 Chapter 7: Introducing Project Cost Management ³ Analogous estimating: uses similar historical information to predict the cost of the current project 14We'll cover risk management at saran wrap tattoo after prison break tattoo detail at saran wrap tattoo after prison break tattoo Chapter 11 16 It is calculated by dividing EV by the actual costs spent at saran wrap tattoo after the project C $64,999 22 As projects have risks, the cost of the risks should be identified along with the cost of the risk responses This is calculated by subtracting the actual costs of $65,000 from the earned value of $39,000 Your company has two possible projects to manage, but they can at these sun also choose one Planned Value used to be known as the Budget Cost of Work Schedule (BCWS), or #36c to you may see this term on the PMP Exam This new estimate to complete the work is known as the "Estimate to Complete (ETC) As the project passes through progressive elaboration, the identified pool of resources may vary A revision to the cost estimates may have a ripple effect: other parts of the project may need to be adjusted to account for the changes at saran wrap tattoo after prison break tattoo cost, the sequence of events may be reordered, and resources may have to be changed
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