# GM593 Determining Project Budget Estimates

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### Question Description

(a) By using an example, explain the type of project performance information that is useful to the team when determine if the cost, schedule, and scope baselines are on target.

(b) Discuss the process by which changes to the project scope are managed. Why is it important to have a formal process?

(c) Explain the following EVM results: Project A (CV = 400, SV = -700); Project B (CPI = 1.30, SPI= 0.74); Project C (CV = -850, SV = -450); Project D (CPI = 0.34, SPI = 0.18); Project E (CPI =1.0, SPI = 1.0). In each situation, provide a plan of corrective action to the project manager, if any is recommended.

(d) By using an example, explain why the project manager might place more emphasis on the schedule over the budget. In other words, how does schedule drive costs?

Doctor_Ralph
School: UC Berkeley

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Running Head: DETERMINING PROJECT BUDGET ESTIMATES

Determining Project Budget Estimates
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DETERMINING PROJECT BUDGET ESTIMATES

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A) Project Performance Information Cost, Schedule, and Scope Baselines
The cost is the basis of measuring, monitoring, and controlling cost baseline of the
project. In a software supply system upgrade project, the estimated travel expenses is premised
on the prevailing hotel, accommodation, and flight rates. In such a case, any increases in these
costs affect the project. The scope baseline for a software Supply upgrade project include the
deliverables such as designing, testing, training, and supply of upgrades to the servers and
software (Kerzner & Kerzner, 2017). Therefore, the performance information would those
information show how the quality of the project was achieved within the project constraints.
Project schedule involves creating a sequence of tasks using a WBS to ascertain the
rational associations between tasks. The WBS prioritizes the dependencies between the project's
tasks using performance information such as the activities, sequences, resource allocation, and
duration of activity schedule development and control of the inputs, tools, and outputs in the
project...

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Anonymous
Good stuff. Would use again.

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