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Q: What is cost slope in project management with graph?
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Importance cost management in a project?

Cost Management is critical to Project Management. A project cannot be initiated with Cost Management not in place, since cost management is about estimating, budgeting, monitoring, and analyzing the cost information.


How can one determine opportunity cost from a graph?

To determine opportunity cost from a graph, you can look at the slope of the graph. The opportunity cost is represented by the ratio of the units of one good that must be given up to produce more units of another good. The steeper the slope of the graph, the higher the opportunity cost.


Importance of cost control in project management?

Importance of cost control in project management?


How can one determine the opportunity cost from a graph?

To determine the opportunity cost from a graph, you can look at the slope of the graph's line. The opportunity cost is represented by the ratio of the units of one good that must be given up to produce more units of another good. The steeper the slope of the graph, the higher the opportunity cost.


What is the total number of PMP?

Project Cost Management Project Quality Management Project Human Resource Management Project Communications Management Project Risk Management Project Procurement Management Project Stakeholder Management


How can one calculate opportunity cost from a graph?

To calculate opportunity cost from a graph, you can determine the slope of the graph, which represents the trade-off between two choices. The opportunity cost is the value of the next best alternative that is forgone when a decision is made. By analyzing the slope of the graph, you can identify the opportunity cost of choosing one option over another.


What is Project cost control vs approved budget in project management?

Project cost control is comparing the actual project cost against planned project cost.


What is cost slope in project management?

Cost slope is defined as the ratio of difference between Crash cost & Normal cost and difference between Normal Time & Crash Time. Crash Time is time taken by the activity when additional resources, overtime and other special measures are taken to speed up (crash) the activity.


What is the opportunity cost formula?

opportunity cost of x is equal to y over x. The answer then becomes the slope for the graph.


What is cost estimating cost benefit analysis in project management?

EMINEM


What percentage of project cost is business plan?

Project cost is means a lot in business plan. By using project Management software we can easily manage the project cost. Many online project management software are available now a days. Project management software provides various services which can help you to enhance your business. It includes many things like collaboration software, budget management, resource allocation, cost control, documentation any many more software.


What has the author Jeffrey K Pinto written?

Jeffrey K. Pinto has written: 'The Wiley Guide to Project Control (The Wiley Guides to the Management of Projects)' 'SimProject Player's Manual and Access Code' 'Project Leadership' 'Successful project managers' -- subject(s): Project management 'Project management' -- subject(s): Project management 'SimProject' -- subject(s): Simulation games, Project management 'Cost and Value Management'