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Estimate-To-Complete, Estimate-At-Completion, etc
I'm studying for the PM division of the architect's licensing exams, and wrestling with the various forecasting techniques for "snapshot" monitoring of the progress of the Project Work Plan:
Using these metrics involves analyses of how much has been spent on labor to-date, how much is expected to be spent on labor to complete the remainder of the project, how much the total spent on labor at project completion will be, etc. What I don't understand is whether we're always talking about the cost of Direct Labor, or the cost of direct labor with multipliers applied (what I call Factored Labor, as I haven't seen the official term). One of the terms found in equations is NSF Net Service Fee, which is a value that has multipliers applied - it is not a value of direct labor (unless I've badly misinterpreted that). So does that mean that all the terms of the formulas need to be converted to and expressed as labor values with multipliers applied (factored labor)? Terms of direct labor and terms of factored labor don't belong together in the same formula, do they? Summary of my question: are terms of equations for forecasting techniques always in direct labor, or always in factored labor, or a mix of the two?