Question: What is the cost estimating technique based on estimating individual work items and summing them to get a project total called? a. Definitive Estimate b.

What is the cost estimating technique based on estimating individual work items and summing them to get a project total called?

a. Definitive Estimate

b. Parametric Estimate

c. Bottom-Up Estimates

d. Analogous Estimates

anesha is managing a project. The original scope baseline of the project was budgeted at $100,000. Since work on the project started there have been seventeen authorized and approved changes to the project. The changes have a value of $17,000 and the cost of investigating them prior to their approval was $2,500. What is the current budget for Tanesha's project?

$100,000

$114,500

$117,000

$119,500

Ashley is the Project Manager for Blue Power Lumber Yard. She is trying to forecast estimates for the last phase of the project that she is currently working on. Based on the performance of the project to date, which formula should she use to estimate the total value of the project when completed assuming similar variances will not occur?

EAC = AC + BAC EV

SV = EV PV

CPI = EV/AC

ETC = (BAC EV)/CPI

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 General Management Questions!

What is the cost estimating technique based on estimating individual work items and summing them to get a project total called? aTop down Estimating bAnalogous Estimating cParametric Estimating...

24. Which tool estimates the cost of individual work items and then aggregates them to obtain the total project cost? a. Bottom-up estimate b. Definitive estimates c. Parametric estimates d. Order of...

Cash flow analysis is a method for determining the estimated annual costs and benefits for a project and the resulting annual cash flow:\ \ Question 1 options:\ True\ False\ Question 2 (1 point) \...

Earned Value Project Management A Powerful Tool for Software Projects Quentin W. Fleming and Joel M. Koppelman Primavera Systems, Inc. Earned value can provide any project manager with an early...

One of the following is NOT true: The critical path method predicts total project duration. The critical path is the longest path through the network diagram. The critical path for a project...

There are different Estimating techniques. Review the chart below and discuss which method you feel would be best from project costing perspective? And which technique would be worst? Please make...

1.The following is not a cost estimating technique: Parametric Systematic Bottom-Up Analogous 2. Salary costs are an example of: Required costs Direct costs Timely costs Optional costs 3. The...

One of the following is NOT true: Bottom- up estimates tool, used for cost estimation of a project, and it involves estimating the costs of individual work items and activities and summing them to...

Choose the correct word from the list. (Rubrics: 0.5 mark each for a correct answer, 0.5*10=5 Marks) : involve estimating individual work items or activities and summing them to get a project total...

What type of estimate is a cost estimation tool that involves estimating individual work items or activities and summing them to get a project total? Question 1 1 options: budgetary parametric bottom...

What does the term activity-based management mean?

How does improving product quality lower the cost of producing a product?

When a corporation declares a cash dividend: A . liabilities increase, paid - in capital decreases B . liabilities increase, retained earnings decrease C . no effect on paid - in capital D . both B ....

Prepare Tiker Company's journal entries to record the following transactions and the adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the...