Describe the importance of the cost account

Assignment Help Cost Accounting

Reference no: EM131465217

1. What could be included in a work package?

A. Defines work (what) and identifies time to complete a work package (how long)

B. Identifies a time-phased budget to complete a work package (cost) and identifies resources needed to complete a work package (how much)

C. Identifies a single person responsible for units of work (who) and identifies monitoring points for measuring progress (progress)

D. All the given answers

2. What is typically the planned value of a project?

A. Total project budget

B. Total project budget at baseline approval

C. Sum of all the work packages

D. All the given answers

3. Describe the main inputs into project cost management planning.

4. List the typical information retained in relation to estimating information?

5. How might the categorisation of the items to be tracked be structured in a simple time-phased project budget?

6. List the typical information retained in relation to estimating information?

7. Describe the importance of the cost account in a complex time-phased budget.

8. Describe the main reasons (indicated in the text) that things can go wrong with cost management.

9. Describe some of the cost management activities that take place in the Initiation phase of a project.

10. Describe some of the cost management activities that take place in the Planning phase of a project.

11. Describe some of the cost management activities that take place in the Executing phase of a project.

12. Describe some of the cost management activities that take place in the Closing phase of a project.

Reference no: EM131465217

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