Which of the Following Is a Cost Estimating Relationship

Several complexity considerations may need to be considered and combined in a logical manner to arrive at a single best complexity value. An Example of the Parametric Cost Estimating Method 111 Table 12.

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PMP Question No 1161 - Cost.

. 4 Place the following steps in order for estimating a cost function using quantitative analysis. The total cost will be 9000 computed as below. It is a cost function in which the cost remains the same over various ranges of the level of activity but the cost increases by discrete amounts as the level of activity.

An Example of the Analogy Cost Estimating Method 104 Table 10. Mathematical equations based upon regression analysis B. Is a near perfect estimate 4.

A CER is an equation used to estimate a given cost element using an established relationship with one or more independent variables. A cost estimate is an evaluation and analysis of future costs generally derived by relating historical cost performance schedule and technical data of similar items or services. Which of the following would be considered as a cost-estimating relationship CER.

Material provided in a proposal to justify ones estimates are called. All of the following statement are true about factors EXCEPT. Mathematical equations based upon regression analysis B.

Which of the following is not true about the cause-and-effect criterion when estimating a cost function. Estimating pitfalls can result from. They typically comes from the people actually doing the work and who are most knowledgeable about the task at hand.

Mathematical equations based upon regression analysis B. A project was estimated to cost 200000 with a timeline of 10 months. Cost-cost or cost-quantity relationships d.

All of the above. Costcost or costquantity relationships D. Which of the following best describes a step cost function.

A Correlation of variables proves cause-and-effect B Managers must be careful not to equate high correlation between two variables to mean that either variable causes the other C Knowledge of operations can help managers discover cause. Cost estimation is the process of estimating cost of the unit produced or service provided on the basis of standards set for the production activity or service activity. Which of the following standard project estimating techniques is.

All of the above 6. A few of the most common cost estimating techniques are. They establish low-cost efficient methods for completing activities.

However this was made up by shipping the first batch of materials for the project by air. Cost Estimating Techniques. The analogy method finds the cost of a similar space system adjusts for differences and estimates the cost of the new space system.

Which of the following is a cost estimating relationship. Direct and Manage Project Work. If a worker earns 30 per hour in salary but the project is charged 75 per hour for each hour the individual works then.

C Choose the dependent variable D Identify the independent variable or cost driver E Estimate the cost function A D C E A B B C D B A E C A D C E B D E D C B A. 9 One of the types of cost estimation is Rough Order of Magnitude. All of the above.

Cost estimation helps in the analysis of the cost behavior. Which of the following is a cost estimating relationship. All of the above.

The parametric method uses a statistical relationship to relate cost to one or several technical or programmatic attributes also known as independent variables. All of the above. An employee earning 40hour works in a department where the overhead is 125.

Total cost 1000 2 4000 units 9000. Estimates are made at the work package. Ranges of Cost by WBS 146.

A Plot the data B Collect data on the dependent variable and the cost driver. All of the above. 1 Answer to Which of the following would be considered as a cost-estimating relationship CER.

The four major analytical methods or cost estimation techniques used to develop cost estimates for acquisition programs are Analogy Parametric Statistical Engineering Bottoms Up and. Life cycle cost estimating B. A cost factor is a cost estimating relationship where the dependent variable is not directly proportional to the independent variable.

Which of the following would be considered as a cost-estimating relationship CER. 100 E 8. Is performed after the scope is clearly defined 3.

Usually made before the project is designed and must therefore rely on the cost data of similar projects built in the past. Mathematical equations based upon regression analysis B. Due to a shipment delay the schedule was slightly delayed.

1 Bottom up estimating is a technique that uses statistical relationship between historical data and other variables to calculate a cost estimate but produces more accurate estimates Parametric estimates involves estimating the costs of individual work packages at. Is performed when detailed information is available 2. Which of the following standard project estimating techniques is usually accomplished.

All of the above. Cost-Cost relationships D. Proprietary pricing E 7.

A nonlinear cost relationship often used in estimating the cost of a new industrial processing plant from the known cost of an existing facility of a different size is known as the exponential rule. Which of the following is a cost estimating relationship. Net present value C.

All of the above E 2. Mathematical equations based upon regression analysis b. The net result was that there was some additional cost.

Costcost or costquantity relationships D. Mathematical equations based upon regression analysis B. An Example of the Engineering Build-Up Cost Estimating Method 108 Table 11.

Let y n be the known cost of an existing facility with capacity Q n and y be the estimated cost of the new facility which has a capacity Q. Three Cost Estimating Methods Compared 103 Table 9. Mathematical Equations based upon regression analysis b.

The parametric technique uses regression or other statistical methods to develop Cost Estimating Relationships CERs. Which of the following is a cost estimating relationship. A billable or charge back hour to this department would be.

Which of the following statements are true regarding cost estimating techniques. They are made by someone who uses experience andor information from someone else to determine overall project cost and duration.

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