Estimate Costs by Sean Whitaker

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About the Lecture

The lecture Estimate Costs by Sean Whitaker is from the course PMP Training – Become a Project Management Professional (EN). It contains the following chapters:

  • Estimate Costs
  • Inputs
  • Tools and Techniques (1/2)
  • Tools and Techniques (2/2)
  • Analoguos Estimating
  • Standard Deviations
  • Estimate Kosts

Included Quiz Questions

  1. Work performance data.
  2. Risk register.
  3. Cost management plan.
  4. Human resource management plan.
  1. Work performance reports.
  2. Analogous estimating.
  3. Expert judgement.
  4. Parametric estimating.
  1. Choosing to reduce quality to reduce project costs transfers the cost of poor quality to later points in the product life cycle.
  2. Choosing to reduce quality to reduce project costs saves money throughout the entire project and product life cycle.
  3. Choosing to reduce quality to reduce project costs results in higher total project costs but lower costs over the entire product life cycle.
  4. Choosing to reduce quality to reduce project costs have no impact on either the project costs or the product life cycle costs.
  1. The primary purpose of vendor bid analysis is to develop an independent assessment and expectation of the project cost estimates you will receive from potential vendors of goods or services.
  2. The primary purpose of vendor bid analysis is to provide a basis to disagree with any estimates received from potential vendors of goods and services.
  3. The primary purpose of vendor bid analysis is to clearly indicate to potential vendors what you are prepared to pay for goods and services.
  4. The primary purpose of vendor bid analysis is to set the price that will be paid for goods and services on the project.
  1. Analogous estimating.
  2. Parametric estimating.
  3. Three point estimating.
  4. Reserves analysis.
  1. $151.66
  2. $490.00
  3. $520.00
  4. $68.
  1. $101-$201
  2. $126-$176
  3. $76-$226
  4. $141-$161
  1. Activity cost estimates
  2. Cost management plan.
  3. Work performance data.
  4. Reserve analysis.
  1. Order of magnitude estimate.
  2. Control estimate.
  3. Conceptual estimate.
  4. Preliminary estimate.

Author of lecture Estimate Costs

 Sean Whitaker

Sean Whitaker


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