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what is Expert Judgment used for.
Used to analyze the information needed to develop the project scope statement.
what is Work Performance Information
Data will be used to communicate project status.
what is cost control
practice of identifying and reducing business expenses to increase profits
what is the Budget at Completion (BAC)
The amount you expect the project to cost.
what are Milestone charts
A summary-level schedule that identifies the major schedule milestones.
what is the first step of three point estimating
1.E = (O + M + L) / 3
what is Cost Forecasts
Communicate the project budget and spending revisions.
what is the point of Performing Schedule Analysis
it compares the amount of work completed versus the amount of work.
what is the Basis of Estimates
The detailed explanation of the logic or rules that govern the cost estimates.
what is a Project Schedule network diagram
A graphical representation of the logical relationships among the project schedule activities.
when should Bottom-Up Estimating be used.
it is used when estimating activities that are rolled up to create a total project estimate.
what is Change Requests
Changes requested, but not formally approved by the official change control
what does Performing Cost Analysis do
it determines Determines the project progress in terms of the amount of work.
what is Activity Cost Estimates
Provide the probable costs associated with the use of resources needed to complete the project activities.
what is a Gantt Chart
Graphic display of schedule related information. In the typical
bar-chart, schedule activities or WBS components are listed down the
left side of the chart, dates are shown across the top, and activity
durations are shown as date-place horizontal bars.
what is Analogous Estimating
A high level estimate used to include program evaluation review techniques.
what is Project Management Plan Updates
Updates to reflect any changes to the cost baseline or the cost management
what is the point of Forecasts
it Estimates predictions of the future state of the project based on the past performance and expected future performance.
what is Parametric Estimating
estimating the quantity of work and productivity rate per unit of work.
what is a milestone
A significant point or event in a project.
what is Parametric Estimating
estimate the quantity of work and productivity rate per unit of work.
what is the first step of Cost Forecasts
Identify the Problem
what is Earned Value Management used for
Used to measure project effectiveness in terms of execution.
what is Bottom-Up Estimating
Used when estimating activities that are rolled up to create a total project estimate.
what is an Activity List
A comprehensive list including all schedule activities required on the project.