Question: Here is some data for Project XYZ Budget $ 5,276 thousand Start Workday 7 Finish Workday 109 Reporting Day 34 Earned Value $ 262 thousand

Here is some data for Project "XYZ"

Budget$ 5,276 thousand
Start Workday7
Finish Workday109
Reporting Day34
Earned Value$ 262 thousand
Planned Value$ 364 thousand
Actual Cost$ 741 thousand


Using a "Do-Nothing" forecast, estimate the extra amount of money that will need to be added to (or subtracted from) the budget, in thousands of dollars, rounded to the nearest integer number of thousands. The allowed error margin is 2% or 1 thousand dollars, whichever is larger.


Step by Step Solution

3.31 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

DoNothing forecast technique is a very simple technique of forecasting In this technique of f... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!