In this you will be answering question on the following topics:

• Cost Management: Planning the cost of projects
• Estimating costs
• Determining a budget
• Cost controls

Question 1

What is a fixed cost and a variable cost?

1. Define each
2. Give an example of each at a cookie factory
3. Give a pro and a con of each: a fixed cost and a variable cost.

Answers need to be full sentences

Question 2

What is Analogous Estimating and Parametric Estimating and Bottom up Estimating?

1. Define each
2. You are thinking about opening a cookie cookie factory. Give an example of how you might do Analogous Estimating and Parametric Estimating and Bottom up Estimating
3. Give a pro and a con of each: Analogous Estimating and Parametric Estimating and Bottom up Estimating

Answers need to be full sentences. I recommend looking up each term online for better definitions and examples. Do not copy out of the book or from the internet. Please use your own word.