ProjectCostManagement(Levelofdifficulty:4/10)Trytounderstandandremembertheformulas!ResourcePlanning-determinetheresourcerequirementCostEstimating-understandthedifferencesbetweenthetoolsandtechniquesCostBudgeting-whatisthecostbaselinefor?CostControl-whatisearnedvaluemanagement?Don’tworrytoomuchaboutearnedvaluecalculation.Ratherstraightforward.Trytounderstandtheconceptandlogicbehindthetheory.Formulas:CV=EV-ACSV=EV-PVCPI=EV/ACSPI=EV/PVEAC=BAC/CPI(novariance)EAC=AC+ETC(assumptionswerefundamentallyflawed)EAC=AC+(BAC-EV)(variancesareatypicalandsimilarvarianceswillnotoccur)EAC=[AC+(BAC-EV)/CPI](variancesaretypicalandwillchange)
