There is generally a sequence of steps taken to determine the estimated cost of project deliverables. Review the following list and place each step in the appropriate sequence to display the complete process.

Steps	Sequence
Develop a WBS
Provide a complete definition of the work requirements
Estimate the costs (cost out) of the WBS
Establish the logic network
Establish reasonable costs for each WBS element
Decide on the basic course of action
Review WBS costs with functional managers
Develop the responsibility assignment matrix (RAM)
Negotiate with functional managers for qualified personnel
Review base case costs with upper management or sponsor
Document the result in the project plan
Establish cost summary reports
Develop the final detailed network diagram and CPM schedules

Life-Cycle Costing

Which of the following costs are generally associated with the project life cycle, and which costs are associated with the total life cycle of the project?

	Project Life Cycle	Product Life Cycle
R&D Costs
Production Costs
Constructions Costs
Operation & Maintenance
Product Retirement

Answer rating: 100% (QA)

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