actual cost (AC) analogous estimates bottom-up estimates budgetary estimate cont

Question

actual cost (AC)

analogous estimates

bottom-up estimates

budgetary estimate

contingency reserves

cost variance (CV)

function points

known unknowns

learning curve theory

life cycle costing

overrun

planned value (PV)

profit margin

rough order of magnitude (ROM) estimate

schedule variance (SV)

sunk cost

top-down estimates

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type the all the definitions. Type in your own words.

thanks

Explanation / Answer

Actual Cost:- It is the Actual Cost which we spend actually one thing. It includes the shipping cost , taxes ,e.t.c..

analogoues estimates:- It is estimate which is actually done by comparing the current one with the previous one.

Bottom-up estimate:- It is the estimate that estimations done at the task level of the project by project manager.

Budgetary Estimate:- This is the estimate which is not an accurate one. Budgeting team will simply estimate the budget based on the project, plan.

Contigency Reserve:- It is the retained earnings to secure the business against future losses. So that we can use that budget when the business is in loss.

Cost Variance:- It is the value which evaluated the performance of the thing means how much we actully spent substracted by the actual cost it sold. difference is the cost varaiance

I am not allowed to answer more than this according to the chegg policy please post the remaining as new post. Kindly understand

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