PROJECT MANAGEMENT FINAL EXAM

Considers the total cost

of ownership, or development plus support costs, for a project.

• Learning Curve Theory

• Life Cycle Costsing

• Parametric Modeling

• Rate of Performance

Costs that can be directly related to producing the products and services of the project.

• Cost Budgeting

• Budget at Completion

• Direct Costs

• Earned Value

A time-phased budget that project managers use to measure and monitor cost performance

• Cost Baseline

• Cost Budgeting

• Cost Estimating

• Cost Variance

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

• Intangible Costs

• Sunk Cost

• Tangible Costs

• Indirect Costs

A document that describeshow cost variances will be managed on the project.

• Analogous Estimate

• Cost Management Plan

• Earned Value Managment

• Estimate at Completion

The processes required to ensure that the project is completed within the approved budget

• Management Reserves

• Project Cost Management

• Rate of Performance

• Planned Value

Money that has been spent in the past.

• Actual Cost

• Direct Cost

• Sunk Cost

• Indirect Cost

An estimate of the value of the physical work actually completed

• Earned Value

• Earned Value Management

• Direct Costs

• Actual Cost

The ratio between revenues and profits

• Profit Margin

• Planned Value

• Profits

• Actual Costs

A cost estimating technique based on estimating individual work items and summing them to get a project total

• Analogous Estimates

• Bottom-Up Estimates

• Definitive Estimate

• Parametric Estimate