Project Cost Management Flashcards
1
Q
What techniques are used to determine the budget?
A
- Direct Labour
- Weighted Score System
- Earned Value System
- Forecast System
- Variance Analysis System
2
Q
How do you calculate Schedule Variance
A
Earned Value / Planned Value
3
Q
How do you calculate Cost Variance
A
Earned Value - Actual Value
4
Q
What processes are included in Project Cost Management, and in what order?
A
- Plan Cost Management
- Estimate Costs
- Determine Budget
- Control Costs
5
Q
What is the primary concern of Project Cost Managment?
A
The primary concern is the cost of resources needed to complete a project activity
