4. You are the project finance manager on a project that is coming in over budget...
4. You are the project finance manager on a project that is coming in over budget and requires a cost change through the cost change control system. You know all of the following statements are true regarding the Control Costs process except
- A description of how cost changes should be managed and controlled is found in the cost management plan.
- Approved cost changes are reflected in the cost baseline.
- The equation, (BAC-AC)/(BAC-EV) is used to determine the cost performance that must be realized for the remaining work of the project to meet the BAC goal.
- The equation, EAC = BAC/cumulative CPI, is used to forecast an estimate at completion assuming future project performance will be the same as past performance.
Homework Answers
Answer
following statements are true regarding the Control Costs process except
C) The equation, (BAC-AC)/(BAC-EV) is used to determine the cost performance that must be realized for the remaining work of the project to meet the BAC goal.
(The correct formula used to determine the cost performance that must be realized for the remaining work of the project to meet the BAC goal, is EAC = AC + [BAC - EV / (Cumulative CPI x Cumulative SPI))
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4. You are the project finance manager on a project that is
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