PM: Cost Estimate
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See more in Business Management & Administration
You'll learn some common project management formulas for forecasting cost at completion.
Topics of this game:
- It's possible to forecast what a project's total costs will be by its completion.
- Forecasted cost at completion (FCAC) is based on analysis of ___________.
- How many methods are there for determining the forecasted cost at completion (FCAC)?
- Select the proper formula when the work to be performed on the remaining portion of the project is estimated to be done at the same efficiency as the work performed up to that point.
- Select the proper formula when the FCAC assumes that regardless of the project's past efficiency rate, the remaining portion of the work will be in line with the budget.
- Select the proper formula when you need to re-estimate the cost for all the remaining work to be performed and then add this new estimate to the cumulative actual cost.
- Another measure for estimating cost at completion is to use the complete performance index (TCPI). TCPI = (TBC - CEV) / (TBC - CAC)
