Monitoring Project performance

Question 1

type of control where every detail is accounted for; expensive and frustrating

Answer 1

excessive control

Question 2

type of control that relies on trust, employees, and estimates

Answer 2

insufficient control

Question 3

4 types of cost

Answer 3

estimated, budgeted, actual, project

Question 4

what is the purpose of cost control?

Answer 4

to track the production in place for each activity

Question 5

Categories of a cost report

Answer 5

1. ) labor
2. ) material
3. ) Subcontract
4. ) Equipment

Question 6

approved estimate of the project

Answer 6

budget

Question 7

authorized assigned to schedule work

Answer 7

planned value

Question 8

the measure f the work performed expressed in terms of the budget authorized for that work

Answer 8

earned value

Question 9

how much money is spent

Answer 9

actual cost

Question 10

How much activities are scheduled and planned

Answer 10

BCWS (Budget Cost for Work Scheduled)