- Why is cost estimation such an important component of project planning? Discuss how it links together with the Work Breakdown Structure and project schedule?
- Think of an example of parametric estimating in your personal experience, such as the use of a cost multiplier based on a similar, past cost. Did parametric estimating work or not. Discuss the reasons why.
- Would you prefer the use of bottom-up or top-down budgeting for project cost control? What are the advantages and disadvantages with each approach?
Problem:
- Calculate the direct cost of labor for a project team member using the following data:
Hourly rate: $35/hr.
Hours needed: 150
Overhead rate: 55%
2. Assume that overhead is charged on a flat rate basis.Each member of the project is assigned an overhead charge of $150/week.What would the direct cost of labor be for an employee, given that she is assigned to the project for 200 hours at $10.50/hour?
Solution:
Looking for help with your homework?
Grab a 30% Discount and Get your paper done!
Place an Order
