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Lelu [443]
3 years ago
11

Define project cost terms and tell how each is used in estimating project cost. Compare and contrast analogous, parametric, and

bottom-up methods of estimating costs. Describe issues in project cost estimating and how to deal with each.
Business
1 answer:
Keith_Richards [23]3 years ago
7 0

Answer:

The project cost is a cost required to procure all the needed products, services and resources to deliver the project successfully.

Explanation:

Analogous estimation: involves comparing a past similar project to your current project and the use of analogy to estimate cost.

Parametric Estimation: This estimation uses the historical data based on the real data and saves lots of time to calculate the cost estimation.  

Bottom-up approach: also called definitive technique breaks up all activities of the project to the micro level in order to conduct comprehensive cost estimation.

The issues in project cost estimation include cost overruns, inefficiencies and project surprise. To effectively mitigated them, Bottom-up approach should be applied. It is an expensive but very reliable method.

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Co-workers in the sales department of a company work closely together. these members of the sales department together make up a
Elza [17]

In sociology, these sales workers would be classified as a secondary group.

A secondary group is a group of people whose relationships with one another is impersonal and goal oriented. The group is usually temporary compared to primary group, which is a small social group whose members share personal relationships with one another. Some examples of primary groups are friends and family.

7 0
4 years ago
Concord Corporation's comparative balance sheet at December 31, 2021 and 2020 reported accumulated depreciation balances of $125
natali 33 [55]

Answer:

$380,800

Explanation:

When an asset is sold, the cost and accumulated depreciation are derecognized from the books. Without the sale of an asset, the depreciation charge for the year would be the only difference between the closing accumulated depreciation from prior year to current year.

Change in accumulated depreciation

= $1253000 - $890000

= $363,000

Accumulated depreciation

= $74900 - $57100

= $17,800

Depreciation

= $363,000 + $17,800

= $380,800

7 0
3 years ago
The managerial function of controlling is performed only by the controller of a company. includes performance evaluation by mana
hoa [83]

Answer:

oh

Explanation:

3 0
2 years ago
The type of account and normal balance of Unearned Fees is a.liability, credit b.liability, debit c.revenue, credit d.expense, d
valkas [14]

Answer:

The correct answer is (A)

Explanation:

An unearned fee on unearned income is the amount which is added to an account but not received yet. These accounts are usually liability and credit account. It is a liability because it has not received yet. So the general entry of this account is; debit to the cash account and credit to the unearned account.

4 0
3 years ago
This is calculated by dividing the net profits by net sales.
Triss [41]

Answer:

Profit margin

Explanation:

Profit margin  = Net profits / Net sales

Company can earn insight into a company's earnings by looking at its sales strategy, pricing structure, and productivity improvements using net profit margin.

3 0
3 years ago
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