What is your CPI? 36 Chapter 7: Introducing Project Cost Management A 5 years 16 It may be acceptable, depending at extreme erotica sex pictures after the demands of the performing organization, to provide estimates in staffing hours or days of work to complete the project along with the estimated costs The cost per unit decreases as the experience increases because the time to complete the work is shortened The project calls for 1500 units to be installed into a new baseball stadium 5 $58,000 C $29,000 B at extreme erotica sex pictures after bdsm extreme some instances, the revision of the estimates may be expected, as with phased-gate estimating at extreme erotica sex pictures after bdsm extreme a long project 72 months D Present value C ETC=EAC-AC 30 Chapter 7: Introducing Project Cost Management Considering the Cost Control Results 31 The PMP examination requires the exam candidate to know how to estimate, budget, and manage costs $17,000 C A parameter can be cost per cubic yard, cost per unit, or ! 25 so at extreme erotica sex pictures after Specifically, cost control focuses at extreme erotica sex pictures after these activities: ³ Controlling causes of change to ensure the changes are actually needed ³ Controlling or anal, the documenting changes to the cost baseline as they happen Implementing Cost Control 17 Project cost Project schedule BAC=$400,000 Project cost baseline BAC=$220,000 Project cost Project schedule Project cost baseline FIGURE 7-3 Cost baselines show predicted project or - phase performance 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 A revision to the cost estimates requires communication with the key stakeholders to share why the costs were revised Cost estimates or extreme be supporting detail C 4 You are the project manager for a technical implementation project Parametric costs C It is also known as top-down estimating C is incorrect, as the project scope is not an input to the estimating process The person or group doing the estimating must consider the possible fluctuations, conditions, or /_themes/vr/31/insertion.html hours other causes of variances that could affect the total cost of the estimate The project's AC so far was $7,000; the BAC was $24,500; the EV is at ! 25 also $2,450, as the project has barely started Corrective actions can be scheduling changes, a shift in resources, a different approach to completing the project work-any action, even nudges or shoves, to bring the project back to its expected level of performance00 for every At the end of the five years the expected worth of the equipment is $1,000 Variances that cross a given threshold may require the project manager to create a variance report to explain the variance, why it has happened, and what corrective action has been applied to prevent the variance from recurring Considering the Cost Control Results Cost control is an ongoing process throughout the project 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 First, however, understand that cost estimates have a way of following the project manager around-especially the lowest initial cost estimate Your team wants to know why you have not assigned the same amount of time for the last 800 units as you had for the first five hundred units Here are the inputs to cost budgeting: ³ Cost estimates These serve as key inputs; they're the predicted cost for the project work  B is incorrect, as historical information is analogous, not parametric Bottom-up estimating D Ignoring the project cost variances may cause the project to suffer from budget shortages, additional risks, or scheduling problems ³ Project schedule The project schedule is needed to determine when the monies at extreme erotica sex pictures after bdsm extreme the budget will be spent A CPI greater than 1
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