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Cost Accounts Inquiries

  • 1.  Cost Accounts Inquiries

    Posted 9 days ago

    Greetings,

    I'm trying to self-study the SK6, and I'm doing well due to my speciality in Project Management. However, I've reached a point in the book related to Measuring Inputs and Outputs and Earned Value Management (Pages 279, 280, 283, and 284).

    In P2P2, it's mentioned that the Cost Accounts are related to the WP:

    You can measure the performance of this CA by applying the EVM equations to it, as mentioned on pages 281 and 282, which is understood.
    However, and this is my question: on Page 280, the activities in Table 19.2 have been highlighted as Cost Accounts many times; for more details, please look at the following screenshot with the highlights:
    And,
    So the first question is, are these in the table, along with descriptions, WP or Activities? And if they are activities, why do they have their own Cost Accounts, which are not as per Figure 7.1.2 of P2S2 and Cost Engineering Terminology?
    The second question is, what are the determined Cost Codes in Table 19.4; are they linked to the MasterFormate?
     
    The third question is, are the Cost Accounts in Primavera the same as the Cost Accounts in the SK6? When defining its structure in Primavera, do we stop at the WP level, or do we continue defining the labour, equipment, etc.?
     
    The final question is why there are not enough guides related to CBS, considering its importance. It's one of the tools used to monitor and control cost performance. Moreover, if there are any references you recommend I visit related to CBS, its use, and how it should be structured, please share them with me.
     
    I hope my questions are straightforward, and I appreciate your assistance.



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