- What are the processes (discussed in class) involved in project cost / budget management.
- Why is it important for a PM to understand financial terms? Define the following financial terms:
profit, profit margin, life cycle costing and cash flow analysis. - What are costs? What are benefits? What tangible cost and benefits? What are in intangible cost
and benefits? What direct and indirect cost? - What is earned value (EV)? Explain how earned value management can be used to control costs and
measure project performance.
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