pro 3002 pam soderholm welcome to class!. in earned value analysis, what does “ac” stand for?...
TRANSCRIPT
![Page 1: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/1.jpg)
COST
PRO 3002Pam Soderholm
Welcome To Class!
![Page 2: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/2.jpg)
In Earned Value Analysis, what does “AC” stand for?
Actual Cost of Work Performed
QUALITY
COST
![Page 3: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/3.jpg)
The Cost Management Processes Are:
• Plan Cost Management• Estimate Costs• Determine Budget• Control Costs
COST
![Page 4: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/4.jpg)
Which Estimating Technique Primarily Uses Values From a Previous, and Similar Project?
A) Parametric Estimating
B) Analogous Estimating
C) Three-Point Estimating
D) Bottom-Up Estimating
COST
![Page 5: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/5.jpg)
“The same work under the same conditions will be estimated differently by ten different estimators or by one estimator at ten different times.”
- Unknown
COST
![Page 6: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/6.jpg)
COST
Parametric Estimating uses Relevant Historical Data…
TRUEor
FALSE
![Page 7: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/7.jpg)
What is PMI’s Definition of a Project?
COST
A Temporary Endeavor Undertaken to Create a Unique Product, Service, or
Result.
![Page 8: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/8.jpg)
Schedule Variance = Earned Value – Planned Value
Cost Variance = Earned Value – Actual Cost
COST
![Page 9: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/9.jpg)
Given the Information Below, What is the Schedule Variance?
A) SV= 5,000
B) SV = 5
C) SV = 60
D) SV = 40
COST
![Page 10: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/10.jpg)
What is PMI’s Definition of Project Management?
COST
The Application of Knowledge, Skills, Tools, and Techniques to Project
Activities to Meet The Project Requirements.
![Page 11: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/11.jpg)
“Estimating is what you do when you don’t know.”
- Sherman Kent, Father of Intelligence Analysis
COST
![Page 12: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/12.jpg)
What Formula is Used to Determine the Cost
Performance Index (CPI)?
Earned Value (EV) / Actual Cost (AC)
COST
![Page 13: PRO 3002 Pam Soderholm Welcome To Class!. In Earned Value Analysis, what does “AC” stand for? Actual Cost of Work Performed QUALITY](https://reader035.vdocument.in/reader035/viewer/2022062516/56649dc65503460f94abab9e/html5/thumbnails/13.jpg)
How to Interpret Earned Value:
When analyzing Schedule Variance, Remember:Positive Variance : Ahead of ScheduleNegative Variance : Behind Schedule
When analyzing Cost Variance, Remember:Positive Variance : Under BudgetNegative Variance : Over Budget
COST