Chp 7 - Cost Management

Question 1

Cost Management Process

Answer 1

Plan Cost Management
Estimate Costs
Determine Budget
Control Costs

Question 2

Value Analysis

Answer 2

Finding a less costly way to do the same work. Finding ways to provide required features at the lowest overall cost without loss of performance

Question 3

Cost Risk

Answer 3

Cost related risk. ie fixed price contract

Question 4

Types of Cost

Answer 4

Direct

Indirect