Reference no: EM132372914

Reporting Project Costs Over Time Introduction:

Once the activities have been outlined, it is easier to generate a baseline budget. In addition to generating an overall budget estimate, most project managers use checkpoints throughout the project to establish if accumulated expenses are on track and also if those expenses are in line with the earned value (EV) of the project at that checkpoint. The estimated cost of an activity is often broken down into Labor, materials, equipment, facilities, subcontractors, travel and a margin for contingencies (sometimes called 'reserve').

Directions: Describe how a project manager might accumulate and report costs to upper management for an ongoing project. Select at least 2 of the following terms in your post to describe. to-complete performance index (TCPI) planned value (PV) earned value (EV) actual cost (AC) cost variance (CV) cost performance index (CPI) estimate at completion (EAC) earned value management (EVM)