Unit 5.0: Project Cost Management Review - Mac

What is the purpose of estimating costs for a budget?

• To analyze project performance over time

• To influence and manage changes related to cost

• To calculate the cost estimate for each activity

• To determine the total project budget amount

What is the Cost of Quality (COQ) used for in preparing the activity cost estimate?

• To calculate the cost estimate for each activity

• To determine the total project budget amount

• To analyze project performance over time

• To make assumptions about costs of quality

What is the Cost performance baseline used for?

• To determine the total project budget amount

• To analyze project performance over time

• To calculate the cost estimate for each activity

• To measure, monitor, and control overall cost performance on the project

What is the purpose of Earned Value Management (EVM)?

• To analyze project performance over time

• To determine the total project budget amount

• To assess and measure project performance and progress

• To calculate the cost estimate for each activity

What does the Schedule Variance (SV) measure?

• Schedule performance of a project

• Projection of cost performance that must be achieved on the remaining work

• Progress achieved compared to progress planned on a project

• Cost performance on a project

What does the Cost Variance (CV) measure?

• Projection of cost performance that must be achieved on the remaining work

• Progress achieved compared to progress planned on a project

• Cost performance on a project

• Schedule performance of a project

What is the purpose of Performance Reviews in cost control?

• To compare the cost performance over time

• To compare the schedule activities or work packages

• To examine project performance over time

• To compare the baseline plan to actual schedule and cost performance

What does Variance analysis in Earned Value Management (EVM) compare?

• Actual project performance to planned or expected performance

• Baseline plan to actual schedule and cost performance

• Project progress to future performance goals

• Project scope, cost, and schedule measures

What does Trend analysis in cost control examine?

• Project scope, cost, and schedule measures

• Actual project performance to planned or expected performance

• Baseline plan to actual schedule and cost performance

• Project performance over time

What does Earned value performance in Earned Value Management (EVM) compare?

• Baseline plan to actual schedule and cost performance

• Actual project performance to planned or expected performance

• Project progress to future performance goals

• Project scope, cost, and schedule measures