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CAPM Cost

Michael Gleeson Project Management PRINCE2 Englisch 46 Karten

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  1. 1What are the main outputs of Estimate Costs? (2)Cost Estimates
    Basis of Estimates
  2. 2What are the main outputs of Determine Budget? (2)Cost Baseline
    Project Funding Requirements
  3. 3What are the main outputs of Control Costs? (3)Work Performance Information
    Cost Forecasts
    Change Requests
  4. 4What are the four estimating tools & techniques for Estimate Costs?Analogous Estimating
    Parametric Estimating
    Three-Point Estimating
    Bottom-up Estimating
  5. 5Cost Estimates. Are estimates for what?Quantitative assessment of the likely cost of resources required to complete an activity.
  6. 6What does the scope baseline comprise of?Project Scope Statement
    WBS
    WBS Dictionary
  7. 7What 3 documents from the Project Management Plan are inputs to Estimate Costs?Cost Management Plan
    Quality Management Plan
    Scope Baseline
  8. 8What are the project schedule and resource requirements examples of?Project Documents
  9. 9What are brief examples of: Analogous Estimating Parametric Estimating Three-Point Estimating Bottom-up EstimatingAE - It cost £6000 and took 4 months so therefore we predict this project will be x
    Parametric - based on calculations. Dad square foot of area
    3-point - Most likely, optimistic, pessimistic
    BuE - rolling up from bottom (work packages up) very accurate
  10. 10What does Reserve Analysis analyse?Contingency Reserves/Allowances - included in the budget within the cost baseline, that is allocated for identified risks (known unknowns)
  11. 11Where would you find the Management Reserves?Cost Estimates
  12. 12What is Basis of Estimates?Exactly what it says. The basis of how you reached your estimate. What was factored in.
  13. 13What is Determine Budget?Process to aggregate the estimated costs of individual activities and work packages to establish an AUTHORISED cost baseline.
  14. 14What DOESN'T the Cost Baseline include?Management Reserves
  15. 15When an amount of Management Reserve has been used for unforeseen work, where is the amount of Management Reserve used added to and how?It's added to the Cost Baseline via an approved change request
  16. 16What is Control Costs?Process of monitoring the status of the project to update the project costs and managing changes to the cost baseline
  17. 17What are the 4 types of Resource Requirements Costs? Give examples.Direct Costs - Travel, materials
    Indirect Costs - MS Project (shared licence)
    Variable Costs - Materials, no. of people
    Fixed Costs - Rented equipment
  18. 18What are these for: Management Reserves Contingency ReservesMR: Unkown unkowns
    CR: Known unknowns
  19. 19What are the 3 components of a Three Point Estimate?Optimistic
    Most Likely
    Pessimistic
  20. 20What is the formula for three-point estimating?Optimistic + Most Likely + Pessimistic /3
  21. 21What does PERT stand for?P rogramme
    E valuation
    R eview
    T echnique
  22. 22What is the formula for PERT?O + 4 x ML + P /6
  23. 23What helps determine when the project might need cash?Cost Baseline
  24. 24What does TCPI stand for?To-complete Performance Index
  25. 25What is the best way for Measuring Project Performance?Earned Value Management (EVM)
  26. 26What is EVM?A suite of formulas to forecast project performance and to show current project performance
  27. 27What does BAC stand for?Budget At Completion
  28. 28What is the formula for EV?% complete x Budget at completion (BAC)
  29. 29What is the formula for PV?% planned x Budget at completion
  30. 30What is EV? (not the formula)Earned Value - how much the project is worth right now
  31. 31What is PV? (not the formula)Planned Value - how much the project is supposed to be worth right now
  32. 32What is the cost variance formula?EV-AC = Cost Variance
  33. 33What is the schedule variance formula?EV-PV = Schedule Variance
  34. 34What is 'something' divided by 'something' also referred to as?Indexes
  35. 35What is the formula for Cost Performance?EV / AC
  36. 36What is the formula for Schedule Performance?EV / PV
  37. 37The closer you are to 1, means what in terms of Performance Indexes?The better you're doing
  38. 38What is the formula for Estimate at Completion? (EAC)BAC / CPI
  39. 39What is the formula for Estimate to Completion? (ETC)EAC - AC
  40. 40If we are spending more than we should or behind in our schedule, what does this mean to the performance indexes?They are getting further away from 1, both sides of the number.
    Less than means you can still achieve
    More than means you're likely to not achieve
  41. 41What are the two TCPI formulas?To-complete Performance Index
    (BAC-EV / BAC-AC) Budget at Completion
    (BAC-EV / EAC-AC) Estimate at Completion
  42. 42What does Cost Variance show?EV - AC
    Shows how much you've spent against the Earned Value
  43. 43What do general terms like these refer to? Schedule Value CostSchedule: means planned
    Value: worth
    Cost: Spent
  44. 44What is needed for the formulas, before you can do Estimate at Completion and Estimate to Complete sums ?Indexes for Cost + Schedule
  45. 45What comes first ETC or EAC?You need the results of EAC to work out the ETC
  46. 46What is the Cost Baseline also known as?Budget at Completion

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PRINCE2 Project Management Karteikarten am CAPM Cost, erstellt von Michael Gleeson am 01/05/2019.
Erstellt von
Michael Gleeson
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