A project was estimated to cost $100,000 with a timeline of five months. Due to some unusual causes, the schedule was delayed. At the end of the third month, the project manager reviews the project and finds that the project is 40 percent complete and Actual Costs are $60,000. Assuming that the cost variations observed to date would not continue going forward, the Estimate to Complete (ETC) for the project are:

You are authorized to approve expenditures above $15,000. For the last several weeks, you have been negotiating the terms and pricing of a contract with a vendor, and you want to keep costs as low as possible. This has been an exceedingly difficult negotiation process. A colleague suggests you tell the vendor you can only approve expenses below $10,000 as a way to keep the price low. What do you do?

Anne is a project manager. She has evaluated certain responses from prospective sellers and wants to select a contract model that will transfer risk to the seller. Which of the following should she select in order to achieve this?

During the planning phase of your project, your team decided to procure a certain brand of hardware because it had the lowest price and came with free shipping and installation. This approach saved $6,000 over the other brands. Since that purchase, however, you discovered the annual maintenance costs for this hardware are $2,500 per year, and $12,500 over the life of the hardware. These costs were not budgeted in the project, nor were they included in the Total Cost of Ownership (TCO) analysis that was part of the project business case. What should you do?