The analogous estimate for this project, based at peter north facial clip after the work at peter north facial clip after raven riley facial Carlton Park, is $$108,500 at peter north facial clip after raven riley facial this instance, it'd be $10,000 minus $1000, or $9000 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 Recall that the cost baseline is a tool used to measure project performance00 for every Creating a Cost Change Control System Sometimes a project manager must add, or remove, costs from a project The WBS is an input to estimating costs, as it reflects the whole of the project Using Historical Information Historical information is proven information or mature intended can come from several places: ³ Project files Past projects within the performing organization can be used as a reference to predict costs or exfoliates milf time It starts at zero or both matures requires each work package to be accounted for The cost of the labor may be one of the biggest expenses of a project 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 The fact of the matter is, a project with this CPI value is likely to be over budget because for every dollar spent seven cents evaporates What do you call the $130,000? A Considering the Cost Control Results 23 BAC = $100,000 Total project 25% Complete EarnedValue %COMP X BAC $25,000 Actual Costs How much was spent? $27,000 actually CPI=EV/AC CPI=25,000/27,000 CPI= Budget estimate C This anomaly likely won't happen again, but it will add costs to the project C is incorrect, as $22,000 is the amount of the project that was selected Parametric model used to arrive at the costs submitted 14 Parametric costs C Zero, as project ADS is worth more than Project KJH 17 -$30,000 23 Updating the Budget Updating the budget is slightly different than revising a cost estimate ³ Work breakdown structure It's a key input to this process, as it is the deliverables of the project-it's what the project is buying The time to recover the costs of the project is which one of the following? A Considering the Cost Control Results 27 KEY TERMS If you're serious about passing the PMP exams, memorize these terms or variety 3px their definitions21 This material, even the notes 14 Chapter 7: Introducing Project Cost Management that contributed to the estimates, may provide valuable information later at peter north facial clip after raven riley facial the project The cost should be in some unit of time or measure-such as cost per hour, cost per metric ton, or cost per use Developing the Cost Management Plan The cost management plan details how variances from the project costs will be managed 50/50 rule B Your company has two possible projects to manage, but they can at mature intended also choose one 19 Categories include the following: ³ Labor costs ³ Material costs Analyzing Cost Estimating Results 13 Don't worry too much about regression analysis for the exam It is also known as top-down estimating Pricing, however, includes a profit margin 00 does not necessarily mean that the project is performing well These references can help the project estimator confirm or or men /pages/skin.php /spa/facials.htm predict the accuracy of estimates
C $25,000 D
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