Quiz 1 - ISPM2 3B

The process of estimating, allocating, and controlling project costs.

These are calculated during the planning phase of a project and must be approved before work begins.

A resource sacrificed or foregone to achieve a specific objective or something given up in exchange.

The revenues minus expenditures.

The ratio of revenues to profits.

This costing considers the total cost of ownership, or development plus support costs, for a project.

This analysis determines the estimated annual costs and benefits for a project and the resulting annual cash flow.

Costs or benefits that can easily measure in dollars by the organization.

Costs or benefits that is difficult to measure in monetary terms.

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