The project team recently participated in a working session to determine the costs associated with individual activities. To produce a more accurate estimate, they broke each activity down further into smaller chunks. What will this activity yield?
You’ve gathered cost estimates for the activities of your current project. Most of the activities can be completed with existing staff resources. The summary cost estimate for existing resources is $535,000. You will also need to hire contractors to perform some of the activities that require specialized skills. You’ve received a bid from a local vendor for $137,000 for these services. Which of the following statements are true?
You are working on the risk management plan for your current project and need to document how the risk activities will be recorded for the benefit of future projects. Which part of the risk management plan addresses these issues?
You work for a company that writes billing software programs for the communication industry. Your customer is located in a country that limits the number of foreigners allowed into the country. You identify this risk in your risk management plan. The critical point during the project is installation and setup. You might do which of the following, given these circumstances?
If earned value = 500, planned value = 700, and actual costs = 450, what is the cost variance?