11.2 Modelling The Costing Of Projects Flashcards
(3 cards)
1
Q
How can the cost of a project be modelled?
A
Through budgets ( financial forecasts)
Planning for production such as using MPS software
Picking appropriate tools, machines and manufacturing processes
2
Q
What are financial forecasts based on ?
A
Past and current project information regarding income and expenditure
Market trends
Relevant government policies
Long-term aims and objectives
Short and long-term forecasts
Sales, inventory and manufacturing reviews
3
Q
How is MPS software included?
A
Costings for materials, scale of production and employees are all carried out using this software
This organises and schedules product manufacture
