- Describe the characteristics of work packages.
- Describe the cost baseline. What is the difference between the cost baseline and the performance measurement baseline?
- What are cost estimating ratios? How are they used?
- Describe the relationships among project cost, schedule, and scope.
- How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system?
- What is a cost account? How is it used?
- Why is it important to resist changes to the performance measurement baseline? Under what conditions would changes to the baseline be appropriate? When would changes to the baseline not be allowed?
- What is the cost of quality (COQ) and how is this cost represented in the project cost baseline?
- Identify and describe two methods used to determine the earned value credit for a work package in progress
- Cost Variance (CV) and Cost Performance Index (CPI) can both be used to determine whether a project is on budget, under budget, or over budget at a particular point in time. Why have two measures for the same thing?
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