Cost - Preparing the estimate

4 important questions on Cost - Preparing the estimate

Which 3 structures form the cost and control cube?

  • WBS
  • OBS
  • CBS

Is EVA more or less appropriate for larger projects?

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What does earned value mean?

Measurement of the amount of work done compared to the actual cost. It is a measur of the amount of work done, so it is a measure of the value earned for the money spent.
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Name 4 types of estimate of increasing accuracy

  • Proposal estimate (concept stage)
  • Budget estimate (feasibility)
  • Sanction estimate (design)
  • Control estimate (implementation planning)

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