Five Phases of Project Management
Project Cost
1. Define the five phases of project management using a resource.
1. Define project cost using a resource.
2. In which phase is the cost completed in the project life cycle?
3. Who or what decides the budget?
Project Cost Control Importance
1. Why is project cost control important?
2. Explain two ways to control costs using advanced technologies.
3. Who updates project costs?
Cost Analysis
(Hint,
GAO-20-195G, Cost Estimating and Assessment Guide: Best Practice by Developing and Managing Program Cost
resource)
1. Define cost analysis using a course resource.
Cost Estimates
1. Describe two types of cost estimates that can be used in the new marketing mailing project.
2. Describe the four characteristics of a reliable cost estimate.
3. Explain the importance of cost estimates in project budgets.
Cost Systems
Management Cost and Control System (MCCS)
1. Define MCCS and the four phases in an operating cycle.
The Earned Value Measurement System (EVMS)
1. Define EVMS, and describe its importance.
Compare PMIS and ERP
1. Compare project management information systems (PMIS) and enterprise resource planning (ERP)
Cost Variance
1. Analyze the cost variance metric, and include the equation and what the acronyms stand for.
Software Program
1. Describe one project software program that could help a project manager control costs.