4. Budget at completion (BAC) Assessment date Expenditures Planned value (PV) Earned value (EV) - Actual cost (ACI End of project Time after project start a. Explain the above diagram regarding the project details. What is the status of the project at the assessment date (Time 4 after project start)? Explain with reference to Cost Variance and Schedule Variance. b. What can be done to improve in the project from this point onwards?

Q: Develop the link between estimation, budget, variance, project and schedule

A: All these five terms are interlinked and are inter-connected. All these terms important in the…

Q: Question: What is the purpose of a flexible budget? a) To control costs and evaluate performance b)…

A: A flexible budget is designed to adapt to changes in business conditions. The flexible budget takes…

Q: According to the Productivity Index, which project should be chosen? Explain why people use the…

A: Net present value is the amount which is computed by subtracting the present value of cash outflow…

Q: In the bottom-up approach basically uses historical data from similar engineering projects to…

A: The correct option with proper explanation are as follows.

Q: Explain with example Annual Equivalent Cost Comparison with Unequal Project Lives?

A: Equivalent annual worth technique is the analysis technique that is used for taking capital…

Q: How can we determine the non-recurring costs such as capital expenditure and residual value at the…

A: Non-Recurring Costs: These are the cost that does not re-occur or occur again and again in the usual…

Q: Discuss the human resources movement view of motivation 2) Discuss the different type of operating…

A: 1.Discuss the human resources movement view of motivation The human relations movement in…

Q: Management would consider a project when IRR is greater than the RRR

A: IRR - Internal rate of return is used to analyze how much an investment or a project will be…

Q: What budgeted amounts appear on the flexible budget report? O Actual costs for the budgeted activity…

A: A budget may be prepared as a static budget or a flexible budget. The static budget is prepared at…

Q: What is the difference in purpose between an economic-enterprise budget and the results of the…

A: The purpose of the economic-enterprise budget is to estimate sales, costs, and, finally, the…

Q: the project The ____ the coefficient of variation, the attractiveness. a) lower; lower b) higher;…

A: The term risk refers to the deviation from the expected returns. The deviation could either be…

Q: Partial budget considerations, in addition to economic profitability include: A.   Additional risk…

A: Introduction: Budgeting is a collection of tasks done to plan a budget. A budget is a quantitative…

Q: What are the technique of project appraisal

A: Step 1: Techniques of the project appraisal are: Profitability index Payback period NPV IRR

Q: a predetermined application rate for conversion costs is based on actual conversion costs divided by…

A: Conversion costs are costs that are incurred for converting raw materials of the business into…

Q: 1. Match cach of the following terms with the appropriate definition. The difference between actual…

A: Different techniques of cost Analysis Importance of cost analysis in the organisation to determine…

Q: Describe issues in project cost estimating and how to deal with each.

A: in estimating the project cost there are a lot of difficulties faced while doing it. Some of them…

Q: 5. Data for the 6 major cost items of a certain construction project are given in the following…

A: Net risk is the max risk adjusted for probability of max risk. Net risk = Max risk * probability…

Q: 11. Explain what a sunk cost is, what an opportunity cost is, and how each cost should be handled…

A: A sunk cost is the cost that is already incurred and is not recoverable. This type of cost is not…

Q: Which type of budget is the forecasting of how much should be spent on large items such as…

A: A budget  is the  estimate  made over a future  selected period of time

Q: Explain the difference between strategic and operational budgets.

A: Strategic budget: A strategic budget is a long-term financial plan. It achieves the long-term goals…

Q: A company is planning to purchase various machineries and equipment. Select the one which will…

A: Capital expenditure budget :  A capital expenditure budget is a written plan that specifies the…

Q: Detailed estimates increases cost of estimate as a percentage of project cost Select one: True O…

A: Detailed estimation include the cost of all the items of work. It includes the price, cost,…

Q: The life-cycle concept and WBS are important aids to O a. Reducing the cost and profit structure for…

A: Life cycle concept helps the entity in taking decision related to increase or decrease the price of…

Q: In a nutshell, explain cost-benefit analysis and why is it significant to conduct such before…

A: Cost benefit analysis is a process used primarily by businesses that weighs the sum of the benefits,…

Q: Operating budget considers all the factors except Capital expenditure budget Production budget Sales…

A: An operating budget is a detailed projection of all the income a business expects to earn and all…

Q: Explain how cash flows are esrimated for captial budgeting. What are sunk costs and opportunity…

A: Capital budgeting is an important aspect of finance. It is the process through which a company…

Q: What is the current ratio if cash is $10,000, accounts receivable are $25,000, inventories are…

A: Current ratio is one of the liquidity ratios that is used to calculate the ratio between the amount…

Q: What are the various costs that must be evaluated in a capital budgetingdecision?

A: Capital budgeting is the process of planning to make a decision to invest in long period investments…

Q: What function does an annual budget serve as a part of a company's performance measurement system…

A: Budget is the estimation of the expenditure which will be incurred for the period for which budget…

Q: Evaluate the project to determine its acceptability using the following budgeting techniques or…

A: In capital budgeting, the project's viability can be determined by using the methods like cash…

Q: In your own words, Define the following terms they relate to spending budgeted dollars obligated…

A: Answer:-  Budget meaning:- Governments, companies etc. use budgets to estimate their income and…

Q: he objectives of budgeting are to: a. Establish specific goals for future operations b. Execute…

A: A budget is an estimation to determine the income that will be earned and expenses that will be…

Q: What is the process for developing a budgeted balance sheet?

A: The budgeted balance sheet is a report that a firm uses to examine the estimation of assets,…

Q: Which of the following statements is not an Objective of the cost management system Select one: a.…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Which of the following items do you need to have available to develop a budget? a) Prior period…

A: Budget is an estimation of the cost/ expenses and income/ revenue of the particular period. In…