Reference no: EM133164762

Question 1.1: What are resources? What resources should you consider when determining project cost?

Question 1.2: Describe three-point estimating and how to undertake this type of cost analysis.

Question 1.3: How do you develop a project budget?

Question 1.4: How do you create a cost management plan?

Question 2.1 What is best practice for project financial management? List and describe the processes.

Question 2.2

2.2.a Why are the variances from budgets and forecasts important to know?

2.2.b What causes budget variance?

Question 2.3 How can you make sure a project maintains its financial objectives?

Question 2.4

2.4.a Why do project managers need accurate and timely reports, and what financial information is required to manage the project's finances?

2.4.b Who is usually responsible for a project's financial management?

Question 3.1 How do you collect the information you need to complete financial requirements for a finished project?

Question 3.2 Describe what is involved in a cost-benefit analysis and the advantages and disadvantages of this process.

Question 3.3 What questions must be answered by a review of cost management issues?

Question 4.1 Summarise the purpose of organisational business procurement policies and the elements typically included in them.