Mfmt 404

Review Questions

Name: Student

Answer the following questions:

1) What is a resource?

A resource is a person or people, a material or materials an equipment or machinery that are time independent, they have costs and are taken account with time when developing a project plan.

2) Why aren't resources assigned to summary tasks?

If we assign resources to a summary task we could create unpredictable assignments values.

3) What is the difference between Start, Prorated and End in association with costs?

At the beginning of a project or start cost incurred like fixed cast, the Prorated is to estimate the cost to get preview of final cost and the end is the total cost at the end of the project also it refers that the person will be paid at the end.

4) Give a real-world example of the difference between a fixed cost and a cost per use?

A fixed cost would be that the price will not change and you know what you can spend and what you can’t spend an example would be car insurance. A cost per use is a set fee that you will pay for the use and time length.

5) Why is a fixed cost entered with the task and not the resource?

Because a resource is something that is going to be used in a project multiple times.

6) Why is the resource cost for the Wiring Contractor $0.00?

The reason is because the contractor is being paid with a fixed price and it does not reflect.

7) Which resource is Overallocated and why?

The reason why there should be an error or over located sign is because there is more work than time, although it could be reflected on another resource.