FAQ
Frequently Asked Question
PMBOK GUIDE 6th Edition:
Chapter 07 PROJECT COST MANAGEMENT
Pertanyaan (silahkan dijawab dan masing2nya merujuk ke halaman berapa di PMBOK):
1. Mengapa perlu ada Project Cost Management? Apa definisi dan tujuan dari empat proses
dalam Project Cost Management?
Mengapa perlu Project Cost Management:
- Project cost management ada sebagai control dan pengarahan tentang bagaimana biaya proyek akan
dikelola sepanjang proyek dilaksanakan.
- As a processes involved in planning, estimating, budgeting, financing, funding,
managing, and controlling costs so that the project can be completed within the approved budget.
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Apa definisi dan tujuan dari empat proses dalam Project Cost Management
- 7.1 Plan Cost Management—The process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled.
- 7.2 Estimate Costs—The process of developing an approximation of the monetary resources needed to complete project work.
- 7.3 Determine Budget—The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
- 7.4 Control Costs—The process of monitoring the status of the project to update the project costs and manage changes to the cost baseline.
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2. Apa saja isi dari Project charter yg dipakai untuk input Plan Cost Management? Apa saja
informasi yang terkandung dalam Cost Management Plan?
- Project Charter sebagai Input Plan Cost Management
- Preapproved financial resources. The project charter provides the preapproved financial resources from which the detailed project costs are developed.
- Project approval requirements. The project charter also defines the project approval requirements that will influence the management of the project costs.
- Informasi didalam Cost Management Plan
The cost management processes and their associated tools and techniques are documented in the cost management plan.
- Units of measure. Each unit used in measurements (such as staff hours, staff days, or weeks for time measures; meters, liters, tons, kilometers, or cubic yards for quantity measures; or lump sum in currency form) is defined for each of the resources.
- Level of precision. This is the degree to which cost estimates will be rounded up or down (e.g., US$995.59 to US$1,000), based on the scope of the activities and magnitude of the project.
- Level of accuracy. The acceptable range (e.g., ±10%) used in determining realistic cost estimates is specified, and may include an amount for contingencies.
- Organizational procedures links. The work breakdown structure (WBS) (Section 5.4) provides the framework for the cost management plan, allowing for consistency with the estimates, budgets, and control of costs. The WBS component used for the project cost accounting is called the control account. Each control account is assigned a unique code or account number(s) that links directly to the performing organization’s accounting system.
- Control thresholds. Variance thresholds for monitoring cost performance may be specified to indicate an agreed-upon amount of variation to be allowed before some action needs to be taken. Thresholds are typically expressed as percentage deviations from the baseline plan.
- Rules of performance measurement. Earned value management (EVM) rules of performance measurement are set. For example, the cost management plan may:
- Define the points in the WBS at which measurement of control accounts will be performed;
- Establish the EVM techniques (e.g., weighted milestones, fixed-formula, percent complete, etc.) to be employed; and
- Specify tracking methodologies and the EVM computation equations for calculating projected estimate at completion (EAC) forecasts to provide a validity check on the bottom-up EAC.
- Reporting formats. The formats and frequency for the various cost reports are defined.
- Additional details. Additional details about cost management activities include but are not limited to:
- Description of strategic funding choices,
- Procedure to account for fluctuations in currency exchange rates, and
- Procedure for project cost recording.
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3. Mengapa Schedule dan Risk Management Plan berperan dalam merencanakan Cost
Management Plan?
Sebagai input dari Cost Management Plan
- Schedule management plan. Described in Section 6.1.3.1. The schedule management plan establishes the criteria and the activities for developing, monitoring, and controlling the schedule. The schedule management plan provides processes and controls that will impact cost estimation and management.
- Risk management plan. Described in Section 11.1.3.1. The risk management plan provides the approach for identifying, analyzing, and monitoring risks. The risk management plan provides processes and controls that will impact cost estimation and management.
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4. Jelaskan bagaimana masing-masing input dalam proses Estimate Costs mempengaruhi
bagaimana cost proyek ditentukan?
Input Estimate Costs:
.1 Project management plan : Sebagai inputan untuk penentuan cost proyek dari sisi Project plan, jika plan berubah otomatis, cost proyek juga akan berbeda.
• Cost management plan
• Quality management plan
• Scope baseline
.2 Project documents: Sebagai inputan untuk penggunaan dokumen didalam proyek sebagai knowledge dan acuan langkah penentuan cost.
• Lessons learned register
• Project schedule
• Resources requirements
• Risk register
.3 Enterprise environmental factors: Sebagai inputan penentuan cost dari aspek lingkungan/environment, contoh jika terdapat perubahan lingkungan sekitar situasi di masyarakat akan berdampak terhadap penentuan cost projek nya, contoh market kondisi, inflasi ekonomi, kurs rate, kondisi pandemic dll.
.4 Organizational process assets : Sebagai inputan dari sisi peraturan, regulasi, policy organisasi internal, contoh :
- Cost estimating policies,
- Cost estimating template
- Historical information and lessons learned repository
5. Apa beda Cost of quality di Estimate Cost dan Plan Quality Management?
- Cost of quality di Estimate Cost
- Sebagai tools dan teknik untuk data analisisnya, dijelaskan sebagai berikut:
- Cost of quality. Assumptions about costs of quality (Section 8.1.2.3) may be used to prepare the estimates. This includes evaluating the cost impact of additional investment in conformance versus the cost of nonconformance.
- It can also include looking at short-term cost reductions versus the implication of more frequent problems later on in the product life cycle.
- Cost of quality di Plan Quality Management
- The cost of quality (COQ) includes all costs incurred over the life of the product by investment in preventing nonconformance to requirements, appraising the product or service for conformance to requirements, and failing to meet requirements (rework).
- Failure costs are often categorized into internal (found by the project team) and external (found by the customer). Failure costs are also called the cost of poor quality. Section 8.1.2.3 provides some examples to consider in each area. Organizations choose to invest in defect prevention because of the benefits over the life of the product. Because projects are temporary, decisions about the COQ over a product’s life cycle are often the concern of program management, portfolio management, the PMO, or operations.
6. Apa saja informasi yang terkandung dalam dokumen basis of estimates?
The amount and type of additional details supporting the resource estimate vary by
application area. Regardless of the level of detail, the supporting documentation should provide a clear and complete understanding of how the resource estimate was derived.
Supporting detail for resource estimates may include:
- Method used to develop the estimate.
- Resources used to develop the estimate (such as information from previous similar projects),
- Assumptions associated with the estimate,
- Known constraints,
- Range of estimates,
- Confidence level of the estimate, and
- Documentation of identified risks influencing the estimate
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7. Apakah yang dimaksud dengan Rough Order of Magnitude dan Definitive Estimates
dalam project cost management?
Rough Order of Magnitude: estimate in the range of −25% to +75%.
Definitive Estimates: range of accuracy to −5% to +10%
Cost estimates should be reviewed and refined during the course of the project to reflect additional detail as it becomes available and assumptions are tested. The accuracy of a project estimate will increase as the project progresses through the project life cycle.
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8. Jelaskan bagaimana masing-masing input dalam determine budget mempengaruhi
bagaimana budget project ditentukan?
Input Determine budget:
.1 Project management plan; menggunakan project plan sebagai inputan dan mempengaruhi bagaimana project budget di tentukan, diantaranya:
• Cost management plan
• Resource management plan
• Scope baseline
.2 Project documents; menggunakan project documents sebagai inputan dan mempengaruhi bagaimana project budget di tentukan, diantaranya:
• Basis of estimates
• Cost estimates
• Project schedule
• Risk register
.3 Business documents; menggunakan business dokumen sebagai inputan dan mempengaruhi bagaimana project budget di tentukan, diantaranya:
• Business case
• Benefits management plan
.4 Agreements; menggunakan Agreement seperti MoU, HoA, PKS etc sebagai inputan dan mempengaruhi bagaimana project budget di tentukan.
.5 Enterprise environmental factors: menggunakan EEF sebagai inputan dan mempengaruhi bagaimana project budget di tentukan, diantaranya: multiple currencies, the fluctuations of currencies
.6 Organizational process assets ; menggunakan OPA sebagai inputan dan mempengaruhi bagaimana project
budget di tentukan, diantaranya:
- Existing formal and informal cost budgeting-related policies, procedures, and guidelines;
- Historical information and lessons learned repository.
- Cost budgeting tools; and
- Reporting methods.
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9. Apa definisi cost aggregation? Bagaimana proses ini dilakukan? Apa korelasi cost
aggregation dengan scope baseline?
Cost aggregation
- Cost estimates are aggregated by work packages in accordance with the WBS. The work package cost estimates are then aggregated for the higher component levels of the WBS (such as control accounts) and, ultimately, for the entire project.
- Summing the lower-level cost estimates associated with the various work packages for a given level
within the project’s WBS or for a given cost control account.
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Cost aggregation vs scope baseline (cost baseline)
- The cost baseline is the approved version of the time-phased project budget, excluding any management reserves, which can only be changed through formal change control procedures. It is used as a basis for comparison to actual results. The cost baseline is developed as a summation of the approved budgets for the different schedule activities.
Korelasi
- Cost agregation sebagai tools dan teknik didalam proses penentuan budget, dimana jika terjadi perubahan pada proses cost agregation sehingga berdampak terhadap perubahan juga untuk scope baseline nya.
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10. Mengapa perlu dilakukan funding limit reconciliation disaat menentukan budget proyek?
Funding limit reconciliation
The expenditure of funds should be reconciled with any funding limits on the commitment of funds for the project. A variance between the funding limits and the planned expenditures will sometimes necessitate the rescheduling of work to level out the rate of expenditures. This is accomplished by placing imposed date constraints for work into the project schedule.
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11. Apakah yang dimaksud dengan financing dalam proses Determine Budget?
Financing entails acquiring funding for projects. It is common for long-term infrastructure, industrial, and public services projects to seek external sources of funds. If a project is funded externally, the funding entity may have certain requirements that are required to be met.
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12. Apa beda Management Reserve dan Contingency reserve?
Management Reserve
An amount of the project budget or project schedule held outside of the performance
measurement baseline (PMB) for management control purposes, that is reserved for unforeseen work that is within scope of the project.
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Contingency reserve
Time or money allocated in the schedule or cost baseline for known risks with active response strategies.
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13. Jelaskan bagaimana masing-masing input dalam Control Costs mempengaruhi
bagaimana kontrol biaya proyek dilakukan?
Input Control Cost
The process of monitoring the status of the project to update the project costs and manage changes to
the cost baseline.
.1 Project management plan : Sebagai fondasi dan inputan dari control cost "how the project
costs will be managed and controlled."
• Cost management plan
• Cost baseline
• Performance measurement baseline
.2 Project documents : Sebagai inputan control cost dan mempengaruhi control cost karena "project documents that can be considered as inputs for this process include but are not limited to the
lessons learned register.Lessons learned earlier in the project can be applied to later
phases in the project to improve cost control."
• Lessons learned register
.3 Project funding requirements : The project funding requirements include projected expenditures plus anticipated liabilities.
.4 Work performance data : contains data on project status such as which costs have been
authorized, incurred, invoiced, and paid.
.5 Organizational process assets : can influence the Control Costs process include but are not limited to:
- Existing formal and informal cost control-related policies, procedures, and guidelines;
- Cost control tools; and
- Monitoring and reporting methods to be used.
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14. Apa beda Reserve analysis di Control Cost & Estimate Cost?
Reserve analysis di Control Cost
- During cost control, reserve analysis is used to monitor the status of contingency and management reserves for the project to determine if these reserves are still needed or if additional reserves need to be requested. As work on the project progresses, these reserves may be used as planned to cover the cost of risk responses or other contingencies. Conversely, when opportunities are captured and resulting in cost savings, funds may be added to the contingency amount, or taken from the project as margin/profit.
- If the identified risks do not occur, the unused contingency reserves may be removed from the project budget to free up resources for other projects or operations. Additional risk analysis during the project may reveal a need to request that additional reserves be added to the project budget.
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Reserve analysis di Estimate Cost
- Cost estimates may include contingency reserves (sometimes called contingency allowances)
to account for cost uncertainty. Contingency reserves are the budget within the cost baseline that is allocated for identified risks. Contingency reserves are often viewed as the part of the budget intended to address the known-unknowns that can affect a project. For example, rework for some project deliverables could be anticipated, while the amount of this rework is unknown. Contingency reserves may be estimated to account for this unknown amount of rework. Contingency reserves can be provided at any level from the specific activity to the entire project. The contingency reserve may be a percentage of the estimated cost, a fixed number, or may be developed by using quantitative analysis methods. - As more precise information about the project becomes available, the contingency reserve may be used, reduced, or eliminated. Contingency should be clearly identified in cost documentation. Contingency reserves are part of the cost baseline and the overall funding requirements for the project.
15. Apa itu Earned Value Analysis? Mengapa Analisa ini dipakai dalam proses Control
Costs?
Earned Value Analysis
Earned value analysis (EVA). Earned value analysis compares the performance measurement baseline to the actual schedule and cost performance. EVM integrates the scope baseline with the cost baseline and schedule baseline to form the performance measurement baseline. EVM develops and monitors three key dimensions for each work package and control account:
- Planned value. Planned value (PV) is the authorized budget assigned to scheduled work. It is the authorized budget planned for the work to be accomplished for an activity or work breakdown structure (WBS) component, not including management reserve. This budget is allocated by phase over the life of the project, but at a given point in time, planned value defines the physical work that should have been accomplished. The total of the PV is sometimes referred to as the performance measurement baseline (PMB). The total planned value for the project is also known as budget at completion (BAC).
- Earned value. Earned value (EV) is a measure of work performed expressed in terms of the budget authorized for that work. It is the budget associated with the authorized work that has been completed. The EV being measured needs to be related to the PMB, and the EV measured cannot be greater than the authorized PV budget for a component. The EV is often used to calculate the percent complete of a project. Progress measurement criteria should be established for each WBS component to measure work in progress. Project managers monitor EV, both incrementally to determine current status and cumulatively to determine the longterm performance trends.
- Actual cost. Actual cost (AC) is the realized cost incurred for the work performed on an activity during a specific time period. It is the total cost incurred in accomplishing the work that the EV measured. The AC needs to correspond in definition to what was budgeted in the PV and measured in the EV (e.g., direct hours only, direct costs only, or all costs including indirect costs). The AC will have no upper limit; whatever is spent to achieve the EV will be measured.
Mengapa dipakai dalam process control cost
Sebagai bagian dari tools dan teknik didalam control cost dengan penggunaan data analysis, dimana hasil analisa nya berupa komparasi performance measurement baseline untuk actual schedule dengan cost performance dijadikan sebagai acuan untuk control cost didalam project.
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16. Apa definisi dan rumus dari PV, EV & AC?
PV
- Planned value (PV) is the authorized budget assigned to scheduled work. It is the authorized budget planned for the work to be accomplished for an activity or work breakdown structure (WBS) component, not including management reserve. This budget is allocated by phase over the life of the project, but at a given point in time, planned value defines the physical work that should have been accomplished. The total of the PV is sometimes referred to as the performance measurement baseline (PMB). The total planned value for the project is also known as budget at completion (BAC).
- Rumus: SV = EV – PV dan SPI = EV/PV
EV
- Earned value (EV) is a measure of work performed expressed in terms of the budget authorized for that work. It is the budget associated with the authorized work that has been completed. The EV being measured needs to be related to the PMB, and the EV measured cannot be greater than the authorized PV budget for a component. The EV is often used to calculate the percent complete of a project. Progress measurement criteria should be established for each WBS component to measure work in progress. Project managers monitor EV, both incrementally to determine current status and cumulatively to determine the longterm performance trends.
- Rumus: EV = sum of the planned value of completed work = SV = EV – PV dan SPI = EV/PV
AC
- Actual cost (AC) is the realized cost incurred for the work performed on an activity during a specific time period. It is the total cost incurred in accomplishing the work that the EV measured. The AC needs to correspond in definition to what was budgeted in the PV and measured in the EV (e.g., direct hours only, direct costs only, or all costs including indirect costs). The AC will have no upper limit; whatever is spent to achieve the EV will be measured.
- Rumus: CV = EV – AC dan CPI = EV/AC
17. Apa definisi dan rumus dari SV dan CV? Apa arti nilai SV dan CV yang negative? Apa arti
nilai SV dan CV yang positif?
| Abbreviation | Name | Lexicon Denition | How Used | Equation | Interpretation of Result |
| CV | Cost Variance | The amount by which the project is ahead or behind the planned delivery date, at a given point in time, expressed as the difference between the earned value and the planned value. | The difference between the work completed to a point in time, usually the data date, and the work planned to be completed to the same point in time. | SV= EV–PV | Positive = Under planned cost Neutral = On planned cost Negative = Over planned cost |
| SV | Schedule Variance | The amount by which the project is ahead or behind the planned delivery date, at a given point in time, expressed as the difference between the earned value and the planned value. | The difference between the work completed to a point in time, usually the data date, and the work planned to be completed to the same point in time. | SV= EV–PV | Positive = Ahead of Schedule Neutral = On schedule Negative = Behind Schedule |
18. Apa definisi dan rumus dari SPI & CPI? Apa arti nilai SPI dan CPI yang lebih kecil dari
1? Apa arti nilai SPI dan CPI yang lebih besar dari 1.
| Abbreviation | Name | Lexicon Definition | How Used | Equation | Interpretation of Result |
| CPI | Cost Performance Index | A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. | A CPI of 1.0 means the project is exactly on budget, that the work actually done so far is exactly the same as the cost so far. Other values show the percentage of how much costs are over or under the budgeted amount for work accomplished. | CPI=EV/AC | Greater than 1.0 = Under planned Cost Exactly 1.0 = On planned cost Less than 1.0 = Over planned cost |
| SPI | Schedule Performance Index | A measure of schedule efficiency expressed as the ratio of earned value to planned value. | An SPI of 1.0 means that the project is exactly on schedule, that the work actually done so far is exactly the same as the work planned to be done so far. Other values show the percentage of how much costs are over or under the budgeted amount for work planned. | SPI=EV/PV | Greater than 1.0 = Ahead of schedule Exactly 1.0 = On schedule Less than 1.0 = Behind schedule |
19. Apa definisi dan rumus TCPI? Apa arti nilai TCPI yang lebih kecil dari 1? Apa arti nilai
TCPI yang lebih besar dari 1?
| Abbreviation | Name | Lexicon Definition | How Used | Equation | Interpretation of Result |
| TCPI | To Complete Performance Index | A measure of the cost performance that must be achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the budget available. | The efficiency that must be maintained in order to complete on plan. The efficiency that must be maintained in order to complete the current EAC. | TCPI = (BAC – EV)/(BAC – AC) TCPI = (BAC – EV)/(EAC – AC) | Greater than 1.0 = Harder to complete Exactly 1.0 = Same to complete Less than 1.0 = Easier to complete Greater than 1.0 = Harder to complete Exactly 1.0 = Same to complete Less than 1.0 = Easier to complete |
20. Apa beda EAC & BAC? Apa saja 4 rumus EAC dan dalam kondisi apa rumus-rumus
tersebut dipakai?
| Abbreviation | Name | Lexicon Denition | How Used | Equation | Interpretation of Result |
| EAC | Estimate At Completion | The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete. | If the CPI is expected to be the same for the remainder of the project, EAC can be calculated using: If future work will be accomplished at the planned rate, use: If the initial plan is no longer valid, use: If both the CPI and SPI influence the remaining work, use: | EAC = BAC/CPI EAC = AC + BAC – EV EAC = AC + Bottom-up ETC EAC = AC + [(BAC – EV)/ (CPI x SPI)] | The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete. |
| BAC | Budget at Completion | The sum of all budgets established for the work to be performed. | The value of total planned work, the project cost baseline. | - | - |
estimates berubah cost baseline juga berubah?
Process Cost Baseline
- The approved version of the time-phased project budget that is used as a basis for comparison to the actual results.
- Changes to the cost baseline are incorporated in response to approved changes in scope, resources, or cost estimates. In some cases, cost variances can be so severe that a revised cost baseline is needed to provide a realistic basis for performance measurement
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Basis of Estimates vs Cost Baseline
- Basis of estimates output dari proses estimate cost
- Supporting detail for cost estimates contained in the basis for estimates should specify any basic assumptions dealing with the inclusion or exclusion of indirect or other costs
in the project budget. - Cost baseline output dari proses determine budget
- Determine Budget is the process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled. This process is performed once or at predefined points in the project.
Kesimpulan: secara tidak langsung keduanya akan saling berhubungan dan mempengaruhi dimana basis estimate dijadikan sebagai landasan untuk cost estimate dan itu menjadi pijakan dasar cost baseline untuk determined budget.
22. Gambarkan dan jelasin Storyline Project Cost Management
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