Capm-Csuc-7

Front 1

Project Cost Management is primarily concerned with.....

Back 1

the cost of the resourves needed to complete schedule activities.

Front 2

Cost Estimating

Back 2

developing an approximation of the costs of the resourves aneeded to complete project activities

Front 3

Cost Budgeting

Back 3

aggregating the estimated costs of individual activites or work packages to establish a cost baseline.

Front 4

Cost Control

Back 4

influencing the factors that create cost variances and controlling changes to the project budget

Front 5

Earned Value Rules

Back 5

1. earned value management computation formulas or determining the estimate to complete are defined.
2. Earned value credit criteria are established
3. define the WBS level at which earned value technique analysis will be performed

Front 6

Cost Estimating: Inputs

Back 6

1.Enterprise Environmental Factors
2.Organizational Process Assets
-Cost estimating policies
-cost estimating templates
-historical information
-project files
-project team knowledge
-lessons learned
3. Project Scope Statement
4. WBS
5. WBS Dictionary
6. Project Management Plan
-schedule management plan
-staffing management plan
-risk register

Front 7

Cost Estimating: Tools and Techniques

Back 7

1. Analogous Estimating
2. Determine Resource Cost Rates
3. Bottom-Up Estimating
4. Parametric Estimating
5. Project Management Software
6. Vendor Bid Analysis
7. Reserve Analysis
8. Cost of Quality

Front 8

Analogous Estimating

Back 8

using the actual cost of previous, similar projects as a basis for estimating the current one

Front 9

Bottom-Up Estimating

Back 9

Start by estimating the work packages with the lowest level of detail and work your way up

Front 10

Parametric Estimating

Back 10

uses a statistical relationship between historical data and other variables to calculate a cost estimate.

Front 11

Cost Estimating: Outputs

Back 11

1. Activity Cost Estimates
2. Activity Cost Supporting Detail
3. Requested Changes
4. Cost Management Plan(Updates)

Front 12

Cost Budgeting: Inputs

Back 12

1. Prject Scope Statement
2. WBS
3. WBS Dictionary
4. Activity Costs Estimates
5. Activity Costs Estimates Supporting Detail
6. Project Schedule
7. Resource Calendars
8. Contract
9.Cost Management Plan

Front 13

Cost Budgeting: Tools and Techniques

Back 13

1. Cost Aggregation
2. Reserve Analysis
3. Parametric Estimating
4. Funding Limit Reconcilitation

Front 14

Cost Aggregation

Back 14

Start by aggregating work package costs at bottom and work up until entire project cost is determined

Front 15

Reserve Analysis

Back 15

establishes contingency reserves which may inflate the estimated cost of a project

Front 16

Cost Budgeting: Outputs

Back 16

1. Cost Baseline
2. Project Funding requirements
3. Cost Management Plan(Updates)
4. Requested Changes

Front 17

Cost Baseline

Back 17

time-phasedbudget that is used as a basis against which to measure, monitor, and control overall cost performance on the project.

Front 18

Funding Requirements

Back 18

appears as a step function inbetween the cost baseling and expected cash flow. The difference between the maximum funding and the end of the cost baseling is the management reserve

Front 19

Cost Control: Inputs

Back 19

1. Cost Baseline
2. Project Funding Requirements
3. Performance Reports
4. Work Performance Information
5. Approved Chang Requests
6. Project management Plan

Front 20

Work Performance Information

Back 20

Information collected regarding the status and cost of project activities being performed.

Front 21

Cost Control: Tools and techniques

Back 21

1. Cost Change Control System
2. Performance Measurement Analysis
-Earned Value
-Planned Value
-Actual Cost
-Estimate to complete
-estimate at completion
-cost variance
-schedule variance
-cost performance index
-schedule performance index
3. forecasting
4. Project Performance Reviews
-Variance Analysis
-Trend Analysis
-Earned Value Technique
5. Project Managemtn Software
6. Variance management

Front 22

Planned Value (PV)

Back 22

budgeted cost for the work scheduled to be completed on an activity

Front 23

Earned Value (EV)

Back 23

budgeted amount for the work actually completed on an activity

Front 24

Actual Cost (AC)

Back 24

total cost incurred in accomplishing work on the sheduled activity

Front 25

Estimate to Complete (ETC)

Back 25

based on atypical variances
ETC=(BAC-EV)
based on typical variances
ETC=(BAC-EV)/CPI

Front 26

Estimate at Completion (EAC)

Back 26

using a new estimate
EAC=AC+ETC
using remaining budget
EAC=AC+BAC-EV
using CPI
EAC=AC+((BAC-EV)/CPI)

Front 27

Cost Variance (CV)

Back 27

CV=EV-AC

Front 28

Scheduled Variance (SV)

Back 28

SV=EV-PV

Front 29

Cost Performance Index (CPI)

Back 29

CPI=EV/AC

Front 30

Schedule Performance Index (SPI)

Back 30

SPI=EV/PV

Front 31

Budget At Completion (BAC)

Back 31

BAC=total PV at completion

Front 32

Variance Analysis

Back 32

compaing actual project performance to planned or expected performance

Front 33

Trend Analysis

Back 33

examining project performance over time to determine if performance is improving or deteriorating

Front 34

Earned Value Technique

Back 34

compares planned performance to actual

Front 35

Cost Control: Outputs

Back 35

1. Cost Estimates (Updates)
2. Cost Baseline (Updates)
3. Performance Measures
4. Forecasted Completion
5. Requested Changes
6. Recommended Corrective Action
7. Organizational Process Assets (Updates)
8. Project Management Plan (Updates)