Please enable JavaScript.
Coggle requires JavaScript to display documents.
BUDGET PLANNING - Coggle Diagram
BUDGET PLANNING
TECHNIQUES IN ESTIMATING COST
Resource cost rates
Vendor bid analysis
Bottom-up estimating
Reserve analysis
Parametric estimate
Cost of quality
Analogous estimate
COST MANAGEMENT KEY TERMS
:explode: Actual Cost (AC)
:explode: Budget at Completion (BAC)
:explode: Earned Value (EV)
:explode: Estimate at Completion (EAC)
:explode: Planned Value (PV)
:explode: Estimate to Complete (ETC)
:explode: Variance at Completion (VAC)
COST MANAGEMENT (PROCESS)
:<3: Determine Budget
:<3:Control Costs
:<3:Estimate Costs
REPORTING PROGRESS (EV MANAGEMENT)
:check: Progress >>> Compared against baseline
Use Rule (% Complete)
20/80
0/100
50/50
Estimated Final Project Cost
EAC = ETC + AC