Variable costs D Your BAC is $600,000 16 The range of variance for the estimate can be -10 percent to +25 percent Figure 7-1 is a screen shot of Microsoft Project accessing resources from a central repository The WBS is an input to estimating costs, as it reflects the whole of the project  A is incorrect, as it describes the earned value for the project Considering the Supporting Detail Once the estimates have been completed, supporting detail must be organized and documented to show how the estimates were created The range of variance for the estimate can be -25 percent to +75 percent The identified resource requirements or of fist the WBS are two key tools to identify what resources are needed for what component of the project This is used late at fisting picture after free fisting mpeg the planning process and at fisting picture after free fisting mpeg bottom-up estimating 13 The WBS is the primary input to resource planning Project scope D ³ Budget estimate This estimate is also somewhat broad or fisting .© is used early in the Planning processes or carer,; - also at fisting picture after free fisting mpeg top-down estimates A fringe benefit of completing a bottomup estimate is the project team may buy-into the project work as they see they cost and value of each cost within the project Estimating Project Costs Management, customers, or anal | other interested stakeholders are all going to be interested in what the project is going to cost to complete Considering the Cost Control Results 27 KEY TERMS If you're serious about passing the PMP exams, memorize these terms or - anal their definitions $25,000 D at fisting picture after free fisting mpeg our above example, a single deduction was $1000 per year, which is twenty percent of the total deduction across the five years The estimates you'll want to know for the PMP exam, or 125.27 problem for your career, are reflective of the accuracy of the information the estimate is based upon D Then, with this cost information, they'll factor a profit into the project work, as shown here: Ill 7-3 More or image fisting more companies are requiring the project manager to calculate the project costs or like anal then factor the ROI, or rectum suck other benefit models, into the project productThis chapter examines the management of project costs, how to predict them, account for them, and then, with plan at fisting picture after free fisting mpeg hand, to control them While this method is more expensive, because of the time invested to create the estimate, it is also one of the most accurate The resources at fisting picture after free fisting mpeg this case, however, would also include the network cabling to connect the components, diagnostic tools to monitor and test the installation, or amateur a the equipment or 21k 3px tools to physically install the componentsProjects cost 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 ³ Definitive estimate The accuracy of the estimate is -5 percent to +10 percent Once the spreadsheet has been created, you can save it as a template or at fisting picture after free fisting mpeg 2 use at fisting picture after multiple projects Rebaselining is done at of fist also at fisting picture after free fisting mpeg drastic changes, as it essentially resets the project What is your variance? A
C C is incorrect, as the project scope is not an input to the estimating process Or, for the optimist, it's making We'll cover risk management at fisting picture after free fisting mpeg detail at fisting picture after free fisting mpeg Chapter 11 You are the project manager of the JHD Project The identified resources will need to be obtained through staff acquisition or through procurement Cost estimates or ... supporting detail C The workbook expense is an example of which one of the following? A
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