2 What are the three methods for determining the forecasted cost at completion? Explain.
Answer : Three methods for determining the forecasted cost at completion :
1) General time forecasting formula
2) General cost forecasting formula
3) Performance factor
1) Cost forecasting EAC
Forecasting the final cost of the project is key to the success or failure of a project since it allows to take corrective actions when the predicted EAC exceeds a certain threshold. This forecast is based on the actual costs already spent and a prediction of the future spendings for the remaining portion of work to be done. The general forecasting formula is equal to:
EAC = AC + PCWRStudents, Get Completely solved SMU MBA Spring 2014 assignments from authorized organization www.smumbaassignment.com
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