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| Theory that states when many items are produced repetitively, the unit cost of those items decreases in a regular pattern as more units are produced |
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| A cost estimating technique that uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project. |
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| A project performance measurement technique that integrates scope, time, and cost data |
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| The processes required to ensure that the project in completed within the approved budget |
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| An estimate of the value of the physical work actually completed |
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| Developing an approximation or estimate of the costs of the resources needed to complete the project. |
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| Costs or benefits that an organization can easily measure in dollars |
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| Dollars included in a cost estimate to allow for future situations that are unpredictable (unknown unknowns) |
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| The original total budget for a project. |
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| Costs that are not directly related to producing the products and services of the project, but are indirectly related to performing the project |
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| The original project plan plus approved changes. |
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| Type of modeling that uses project characteristics (parameters) in a mathematical model to estimate project costs |
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| The ratio of acutal work completed to the percentage of work planned to have been completed at any given time during the life of the project or activity |
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| A document that describes how the organization will manage cost variances on the project |
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| Money that has been spent in the past |
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| A cost estimating technique that uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project |
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| Allocating the overal cost estimate to individual work items to establish a baseline for measuring performance. |
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| A time-phased budget that project managers use to measure and monitor cost performance |
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| An analysis that determines the estimated annual costs and benefits for a project and the resulting annual cash flow |
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| Controlling changes to the project budget |
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| Dollars included in a cost estimate to allow for future situations that may be partially planned for (known unknowns) |
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| Costs that can be directly related to producing the products and services of the project |
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| Considers the total cost of ownership, or development plus support costs, for a project |
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| Costs or benefits that are difficult to measure in monetary terms |
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| A cost estimate used to allocate money into an organization's budget |
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| The additional percentage or dollar amount by which actual costs exceed estimates |
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| The portion of the approved total cost estimate planned to be spent on an activity during a given period |
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| The total of direct and indirect costs incurred in accomplishing work on an activity during a given period |
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| A resource sacrificed or foregone to achieve a specific objective |
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| Cost estimate prepared very early in the life of a project to provide a rough idea of what a project will cost |
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| Estimating individual work items or activities and summing them to get a project total |
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| The ratio between revenues and profits |
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| A cost estimate that provides an accurate estimate of project costs |
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| Dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict |
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