Question: Fill in the missing words - - - - - - - - - - Costs: These costs vary with the amount of usage, such
Fill in the missing words
Costs: These costs vary with the amount of usage, such as travel expenses, hourly contractors, or credit card fees.
Costs: These costs are fixed over time, so you pay the same amount over a time period, such as rent, equipment leases, and insurance premiums. In each case, you pay the same monthly amount.
These costs are directly attributable to your project because of your project. You must have these expenses; otherwise, you cannot do your project. Generally, equipment, supplies, raw materials, labor, and machines are considered costs.
Generally, these costs are shared among different teams, business units, or departments. Costs such as overheads and utilities are examples of costs.
This is of the range to When you are well into planning, you should be at the definitive range of the estimate.
This is of the range to This is a wide range that is used during the initiating phases or if starting the project when not much information is known.
Reserves: This is money that you as the project manager have set aside for known risks also referred to as known unknowns
Reserves: This is money that senior management sets aside for unknown risks on a project also referred to as unknown unknowns
Also known as cost baseline, is the original baseline budget for the project.
The plan documents procedures for managing cost.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
