1. What are the three basic types of cost estimating? Describe each type. (20 marks)

2. Describe three tools used in developing a good cost estimate. (20 marks)

3. Describe the concepts of informal methods for distributing information. How do they compare to formal methods for distributing information? (20 marks)

4. Earned value management involves calculating three values for each activity or summary activity from a projects WBS. Describe each of these three values with examples. (20 marks)

5. What are tangible and intangible costs? Distinguish between direct and indirect costs and give examples of each. (10 marks)

6. How do you determine the number of communications channels? How does the number of people involved in a project affect this value? How can project managers control this value? (10 marks)