Cost Management Question: Download Cost Management PDF

The main focus of life cycle costing is to:

A. Estimate installation costs
B. Estimate the cost of operations and maintenance
C. Consider installation costs when planning the project costs
D. Consider operations and maintenance costs in making project decisions

Answers:

Answer #1D. Consider operations and maintenance costs in making project decisions

Answer #2B

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Estimate at completion (EAC) is a periodic evaluation of:

A. The cost of work completed
B. The value of work performed
C. The anticipated total cost at project completion
D. What it will cost to finish the job

Cost performance measurement is BEST done through which of the following?

A. Asking for a percent complete from each team member and reporting that in the monthly progress report
B. Calculating earned value and using the indexes and other calculations to report past performance and forecast future performance
C. Using the 50/50 rule and making sure the life cyde cost is less than the project cost
D. Focusing on the amount expended last month and what will be expended the following month