A PCIB of 0.75 would mean ___.Multiple choice question.actual cost to date is 75% of the estimated total cost at completion.the project is over budget by 75%.the work accomplished to date represents 75% of the total budgeted dollars for the project.
Question
A PCIB of 0.75 would mean ___.Multiple choice question.actual cost to date is 75% of the estimated total cost at completion.the project is over budget by 75%.the work accomplished to date represents 75% of the total budgeted dollars for the project.
Solution
The correct answer is "the work accomplished to date represents 75% of the total budgeted dollars for the project."
PCIB stands for Percent Complete Index Budgeted. It is a measure of the proportion of the total budgeted cost that has been used up by the work accomplished to date. So, a PCIB of 0.75 means that 75% of the total budgeted cost has been used up by the work done so far.
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