Monitoring Project performance Flashcards
1
Q
type of control where every detail is accounted for; expensive and frustrating
A
excessive control
2
Q
type of control that relies on trust, employees, and estimates
A
insufficient control
3
Q
4 types of cost
A
estimated, budgeted, actual, project
4
Q
what is the purpose of cost control?
A
to track the production in place for each activity
5
Q
Categories of a cost report
A
- ) labor
- ) material
- ) Subcontract
- ) Equipment
6
Q
approved estimate of the project
A
budget
7
Q
authorized assigned to schedule work
A
planned value
8
Q
the measure f the work performed expressed in terms of the budget authorized for that work
A
earned value
9
Q
how much money is spent
A
actual cost
10
Q
How much activities are scheduled and planned
A
BCWS (Budget Cost for Work Scheduled)
