Exam 7: Project Cost Management

The main outputs of the ____________________ process are a cost performance baseline,project funding requirements,and project document updates.

The project management plan,project funding requirements,work performance data,and organizational process assets are inputs for the process of ____.

____ allow for future situations that are unpredictable.

____ allow for future situations that may be partially planned for.

The main outputs of the ____________________ process are work performance measurements,budget forecasts,organizational process asset updates,change requests,project management plan updates,and project document updates.

Describe four problems with Information Technology cost estimates.

Since organizations depend on reliable information technology,there are also huge costs associated with ____.

____ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.

If the cost performance index is less than one or less than 100 percent,the project is under budget.

Cost budgeting provides information for project funding requirements.

____ involves developing an approximation or estimate of the costs of the resources needed to complete a project.

List and briefly describe the three project cost management processes.

What are the three basic types of cost estimating? Describe each type.

The cost performance index can be used to calculate the ______________________________.

After you total the EV,AC,and PV data for all activities on a project,you can use the CPI and ___________________________________ to project how much it will cost and how long it will take to finish the project based on performance to date.

____ are costs that are not directly related to the products or services of the project,but are indirectly related to performing the project.

ROM estimates can be referred to as a ballpark estimate,a guesstimate,a swag,or a broad gauge.

Every cost estimate is unique.

A ____ is used to allocate money into an organization's budget.

Direct costs cannot be directly attributed to a certain project.