©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
CEN 4010 (Software Engineering 2) – Final
Exam Study Guide
Budget - ANSWER✔✔-A project budget is a view of the predicted cash flow (incomes and expenditures)
of a project.
Managing Project Costs - ANSWER✔✔-The project manager is tasked with keeping the three main
aspects of a project under control: quality, time, and cost.
Its main goals are:
1. To ensure that the money is available when it needs to be spent.
2. To monitor project expenditures so that the project remains within the budget.
The info you're interested in:
1. Budget
2. Transfers
Page 1/10
, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
3. Actual Cost
Cost Element Structure (CES) - ANSWER✔✔-A hierarchical structure that defines precisely what are the
cost items to take into account in each project.
Direct Costs - ANSWER✔✔-Direct costs are the expenses directly related to carrying out a project. These
include:
• Personnel costs of the personnel involved in the project. Computed from effort and rates. e.g., salary,
tax, retirement funds, etc.
• Materials and Supplies cost of materials necessary to produce the project outputs, e.g., office supplies.
• Hardware and software cost of specific h/w and s/w for the project.
• Travel, meeting, and events cost necessary to meet customers and other stakeholders.
• Consultants and subcontracting costs related to work that is subcontracted.
• Other costs all those expenses that do not fit nicely in the other categories, e.g., books, training, and
renting equipment.
Indirect Costs - ANSWER✔✔-Indirect costs (or overheads) include the expenses necessary to run the
facility and make work actually doable. These include:
Page 2/10
FIRST PUBLISH OCTOBER 2024
CEN 4010 (Software Engineering 2) – Final
Exam Study Guide
Budget - ANSWER✔✔-A project budget is a view of the predicted cash flow (incomes and expenditures)
of a project.
Managing Project Costs - ANSWER✔✔-The project manager is tasked with keeping the three main
aspects of a project under control: quality, time, and cost.
Its main goals are:
1. To ensure that the money is available when it needs to be spent.
2. To monitor project expenditures so that the project remains within the budget.
The info you're interested in:
1. Budget
2. Transfers
Page 1/10
, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
3. Actual Cost
Cost Element Structure (CES) - ANSWER✔✔-A hierarchical structure that defines precisely what are the
cost items to take into account in each project.
Direct Costs - ANSWER✔✔-Direct costs are the expenses directly related to carrying out a project. These
include:
• Personnel costs of the personnel involved in the project. Computed from effort and rates. e.g., salary,
tax, retirement funds, etc.
• Materials and Supplies cost of materials necessary to produce the project outputs, e.g., office supplies.
• Hardware and software cost of specific h/w and s/w for the project.
• Travel, meeting, and events cost necessary to meet customers and other stakeholders.
• Consultants and subcontracting costs related to work that is subcontracted.
• Other costs all those expenses that do not fit nicely in the other categories, e.g., books, training, and
renting equipment.
Indirect Costs - ANSWER✔✔-Indirect costs (or overheads) include the expenses necessary to run the
facility and make work actually doable. These include:
Page 2/10
