This assignment is NO less than 3 pages of content. APA formatting with citations and reference page. 12 pt font; double-space. 1. Wedding cost estimation: Given the following information, calculate the estimated costs for a wedding with 250 guests and a bridal party of six, using the methods Show your work. Note that members of the bridal party are already counted as guests, you don't need to add them twice. 1. Parametric estimate 2. Bottom-up estimate 3. Analogous cost estimate 4. You will probably notice some differences in the estimated values. Are these differences significant? What might cause the differences? If you were estimating a significant project in the future, which method(s) would you use and why? 5. Your mother points out you should probably have valet parking, which will cost $500. Which estimate(s) will change? Wedding Cost Estimates Item Dollars Groom's brother's wedding, last year, 175 guests, similar $20,300 venue and style Catering $65 per person Photographer $1,500 Rental of hall $500 Clothing, bride $2.000 Clothing, groom $750 Flowers $800 Other dcor items $500 Cake $500 Gifts for bridal party $80 each Wedding planner $2,000 Wedding planner's estimate of typical cost for this kind $10,000 plus $75 per guest of wedding 2. Earned-value analysis. A project budget calls for the following expenditures: Task Build forms Budgeted Amount $10,000 Date April 1 April 1 May 1 Pour foundation $50,000 $100,000 $30,000 $30,000 May 1 June 1 Frame walls Remaining tasks July 1 and beyond $500,000 Define each term in your own words, calculate these values for the above project, and show your work: 1. Budgeted cost baseline (make a graph illustrating this one) 2. Budget at completion (BAC) 3. Planned value (PV) as of May 1 4. Earned value (EV) as of May 1 If the foundation work is only two-thirds Everything else is on schedule, 5. SV as of May 6. Actual cost as of May 1 is $160,000. Calculate the cost variance (CV) as of May 7. Schedule performance index (SPI) 8. Cost performance index (CPI) 9. Estimate to complete (ETC), assuming that the previous cost variances will not affect future costs 10. Estimate at completion (EAC) This assignment is NO less than 3 pages of content. APA formatting with citations and reference page. 12 pt font; double-space. 1. Wedding cost estimation: Given the following information, calculate the estimated costs for a wedding with 250 guests and a bridal party of six, using the methods Show your work. Note that members of the bridal party are already counted as guests, you don't need to add them twice. 1. Parametric estimate 2. Bottom-up estimate 3. Analogous cost estimate 4. You will probably notice some differences in the estimated values. Are these differences significant? What might cause the differences? If you were estimating a significant project in the future, which method(s) would you use and why? 5. Your mother points out you should probably have valet parking, which will cost $500. Which estimate(s) will change? Wedding Cost Estimates Item Dollars Groom's brother's wedding, last year, 175 guests, similar $20,300 venue and style Catering $65 per person Photographer $1,500 Rental of hall $500 Clothing, bride $2.000 Clothing, groom $750 Flowers $800 Other dcor items $500 Cake $500 Gifts for bridal party $80 each Wedding planner $2,000 Wedding planner's estimate of typical cost for this kind $10,000 plus $75 per guest of wedding 2. Earned-value analysis. A project budget calls for the following expenditures: Task Build forms Budgeted Amount $10,000 Date April 1 April 1 May 1 Pour foundation $50,000 $100,000 $30,000 $30,000 May 1 June 1 Frame walls Remaining tasks July 1 and beyond $500,000 Define each term in your own words, calculate these values for the above project, and show your work: 1. Budgeted cost baseline (make a graph illustrating this one) 2. Budget at completion (BAC) 3. Planned value (PV) as of May 1 4. Earned value (EV) as of May 1 If the foundation work is only two-thirds Everything else is on schedule, 5. SV as of May 6. Actual cost as of May 1 is $160,000. Calculate the cost variance (CV) as of May 7. Schedule performance index (SPI) 8. Cost performance index (CPI) 9. Estimate to complete (ETC), assuming that the previous cost variances will not affect future costs 10. Estimate at completion (EAC)