Calculating & Categorizing Actual Project Cost

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

When should the project manager perform a cost variance analysis?

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1. What are the four types of costs?

2. What is an actual cost?

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About This Quiz & Worksheet

Understanding how to calculate and label the actual cost of a project is integral to the success of that project. Use this quiz and worksheet to see what you know about actual cost; questions assess knowledge of definitions of different types of cost and cost variance analysis.

Quiz & Worksheet Goals

Assessments will focus on:

  • Sunk costs
  • Occurrence of cost variance analysis
  • Total costs

Skills Practiced

  • Information recall - access the knowledge you've gained to identify the four types of costs
  • Defining key terms - ensure that you can accurately define the key term actual cost
  • Reading comprehension ensure that you draw the most important information from the lesson on project cost

Additional Learning

Calculating & Categorizing Actual Project Cost is a lesson that will teach you about project cost. Covered objectives include:

  • Understand why cost is important
  • Distinguish between the categories of cost
  • Review each type of cost
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