Information Technology Project Management
8th Edition
ISBN: 9781285452340
Author: Kathy Schwalbe
Publisher: Cengage Learning
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Chapter 7, Problem 2DQ
Explanation of Solution
Basic Principles of cost management:
The basic principles of cost management are the key measures for reviewing an IT project in terms of profit, life cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves.
Profit:
- Profit of a project is referred to as the revenue of the project minus total expenditures spent on IT projects.
- The best way to increase the profits of IT project is by increasing the revenue of the company and reducing the expenditures spent during the project development.
Life cycle costs:
- Life cycle cost is defined as the total cost of ownership of a project throughout its life cycle.
- The project managers must consider the life cycle costs of the project while taking financial decisions on any project.
Tangible costs:
- A tangible cost represents the cost that can be linked up with a specific activity or product for task which includes purchasing of materials, hardware systems and paying employees.
Intangible costs:
- Intangible costs represent variety of costs that consists of losses in productivity, and goodwill of customer...
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reminder it an exercice not a grading work
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Open the file SC_EX19_EOM2-1_FirstLastNamexlsx, available for download from the SAM website.
Save the file as SC_EX19_EOM2-1_FirstLastNamexlsx by changing the “1” to a “2”.
If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically.
With the file SC_EX19_EOM2-1_FirstLastNamexlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet.
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Brad Kauffman is the senior director of projects for Rivera Engineering in Miami, Florida. The company performs engineering projects for public utilities and energy companies. Brad has started to create an Excel workbook to track estimated and actual hours and billing amounts for each project. He asks you to format the workbook to make the…
Need help completing this algorithm here in coding! 2
Whats wrong the pseudocode here??
Chapter 7 Solutions
Information Technology Project Management
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