Flashcards
Projectmanagement Skript 7 Übung 7
Cards in this deck (24)
- 1Cost Estimation, Budgeting & Project Control: Types of Costs:-Direct Vs. Indirect
Recurring Vs. Nonrecurring
Fixed Vs. Variable
Normal Vs. Expedited - 2Cost Estimation Ballpark (order of magnitude) ±30%
Comparative ±15%
Feasibility ±10%
Definitive ±5% - 3Creating a Project Budget The budget is...a plan
that identifies the
resources, goals and
schedule that allows
a firm to achieve
those goals - 4Activity-based costing (ABC) 4 steps:1. Assign costs to activities that use resources
2. Identify cost drivers associated with this activity
3. Compute a cost rate per cost driver unit or transaction
4. Multiply the cost driver rate times the volume of cost
driver units used by the project - 5Budget Contingencies(unvorhergesehenes) are needed because:• Project scope may change
• Murphy’s Law is present
• Cost estimation must anticipate interaction costs - 6The Project Control Cycle:
- 7The Project S-Curve: compares difference between budgeted costs and actual costs here 10.000$
- 8Milestone Analysis Milestones are events or stages of the project that represent a significant accomplishment.Milestones..
… signal the team and suppliers
… can motivate the team
… offer reevaluation points
… help coordinate schedules
… identify key review gates
… delineate work packages - 9Tracking Gantt ChartProject status is updated by
linking task completion to the
schedule baseline - 10What characteristics are in Earned Value Management`?Costs
Performance
Schedule - 115 Steps in Earned Value Management1. Clearly define each activity including its resource needs and budget
2. Create usage schedules for activities and resources
3. Develop a time-phased budget (PV)
4. Total the actual costs of doing each task (AC)
5. Calculate both the budget variance (CV) and schedule variance (SV) - 12Earned Value Example
- 13Earned Value Example Schedule VariancesPlanned Value (PV) = 38 = 15+10+10+3
Earned Value (EV) = 30 = 15+8+6+1
Schedule Performance Index = .79 = 30/38 = EV/PV
Estimated Time to Completion = (1/.79)x4=5 - 14Cost VariancesActual Cost of Work Performed (AC) = 40 = 8+11+8+13
Cost Performance Index = .75 = 30/40 = EV/AC
Estimated Cost to Completion = 50.7 = (1/.75)x38 - 15Completion Values in EVMAccurate and up-to-date information is critical in the use of
EVM - 16What are the Human Factors in Project Evaluation & Control Optimistic progress reports
Level of detail
Process evaluation
Non-technical performance measurement - 1710 Critical Success Factors in the Project Implementation Profile1. Project mission
2. Top management support
3. Project plans & schedules
4. Client consultation
5. Personnel
6. Technical tasks
7. Client acceptance
8. Monitoring & feedback
9. Communication channels
10. Troubleshooting - 18Costs in a project There are four types of Cost on a project: Direct, Indirect, Fixed, and Variable. Please characterize them shortlydirect: price for computer
Indirect: Electricity in office
Fixed:Book cover price independent from how many books are sold
Variable: the more i produce, the more it costs ex: the price for number of books - 19Please characterize four techniques that You can use for estimating the costs of a projectAnalogous Estimate - Compare to a previous project.
Parametric - Parameters around which the estimate is
built.
Bottom Up - Individuals items are estimated, then
summed for the total cost.
Computerized Tools - Individuals items are estimated,
then summed for the total cost. - 20What is meant by cost budgeting?involves the overall cost estimates to individual activities or work packages to establish
a cost baseline for measuring project performance - 21What is meant by cost control?controlling the costs by calculation the costs in each task to be done and specificly timed activities
- 22Describe the different Earned Value Data Variables?
- 23Describe the different Earned Value Index Variables?
- 24Describe the different Earned Value Variances?
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- Projectmanagement
- Created by
- Lukas Berger · Jul 2017
- Updated
- Jul 2, 2017
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