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PM Final Part 1

Terms in this set (10)

_______ includes the processes required to ensure that a project team completes a project within an approved budget.
Project cost management
Which of the following involves developing an approximation of the costs of resources needed to complete a project?
Estimating costs
________ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.
Determining the budget
One of the main outputs of the _____ process is a cost baseline
cost budgeting
The process of controlling costs primarily involves:
managing changes to the project budget
Work performance information and cost forecasts are main outputs of the ________ process.
cost control
Profits may be defined as:
revenues minus expenditures
________ helps develop an accurate projection of a project's financial expenses and benefits
Life cycle costing
_____ is a method for determining the estimated annual costs and benefits for a project
Cash flow analysis
Which of the following is true of tangible costs?
They can be easily measured
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