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Chapter 12
Cost and Time Control
Review Questions:
1. What are four uses of actual project cost data?
2. Why is the original cost estimate corrected based on buyout data?
3. What three types of project costs present the greatest risk to the project team?
4. Why are cost codes used for monitoring actual project costs?
5. What are project labor curves used for?
6. What is a foreman’s work package cost-control worksheet used for?
7. Other than the examples listed earlier what three typical assemblies or systems
would warrant development of a foreman’s work package?
8. How frequently should a project manager develop a forecast of the estimated cost to
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complete a project?
9. What are as-built estimates used for?
10. What are as-built schedules used for?
11. What is an earned value analysis used for?
12. What would the CSI MasterFormat cost codes be on the NanoEngineering Building for:
a. Carpet?
b. Concrete placement?
c. Reinforcing steel purchase?
4. Prepare a list of the top ten systems or assemblies from the NanoEngineering
5. Referring to Figures 12.6 and 12.7 Earned Value Curves, if each of these work
packages proceed at the same trend, when will they complete and what will be the
final hours over or under budget?
