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Homework answers / question archive / Overview of Cost Estimating Cost estimating is the practice of forecasting the cost of completing a project with a defined scope
Overview of Cost Estimating Cost estimating is the practice of forecasting the cost of completing a project with a defined scope. It is the primary element of project cost management, a knowledge area that involves planning, monitoring, and controlling a project's monetary costs. In the light of this, create a project cost estimating for your suggested company, summarizing of all the costs involved in successfully finishing a target project, from inception to completion (project duration). Types of costs to consider Beyond the broad classifications of direct and indirect costs, project expenses fall into more specific categories. Common types of expenses include: Labor, Materials, Equipment Services, Software, Hardware, Facilities, Contingency costs. Moreover, - Identify the mission and the vision of your company - Calculate (a) contribution margin and (b) operating income (c) the breakeven point (graph methods) and output level needed to achieve a target operating income (d) operation leverage. (e) Sales Mix in Units.
Shell Company
( PROJECT DURATION - 2 YEARS )
Mission - To safely market and distribute energy and petrochemical products while offering innovative value added services.
Vision - To be the Top Performing and Most Admired Refinery in Asia". The Shell Oil Mission Statement is "To continuously deliver shareholder value by: Manufacturing and supplying oil products and services that satisfy the needs of our customers, constantly achieving operational excellence, conducting our business in a safe, environmentally sustainable and economically optimum manner, and employing a diverse, innovative and results-oriented team motivated to deliver excellence."
Contribution Margin - Current and historical gross margin, operating margin and net profit margin for Shell (RDS.A) over the last 10 years. Profit margin can be defined as the percentage of revenue that a company retains as income after the deduction of expenses. Shell net profit margin as of September 30, 2020 is -7.48%.
Shell's gross profit margin
It had 18.0% from fiscal years ending December 2015 to 2019.
Standard input - (“stdin”, pronounced standard in) is the default place where commands listen for information. For example, if you type cat with no arguments, it listens for input on stdin, outputting what you type to stdout, until you send it an EOF character (CTRL+d):
Standard Output :
Every Unix-based operating system has a concept of “a default place for output to go”. Since that phrase is a mouthful, everyone calls it “standard output”, or “stdout”, pronounced standard out. Your shell (probably bash or zsh) is constantly watching that default output place. When your shell sees new output there, it prints it out on the screen so that you, the human, can see it. Otherwise echo hello would send “hello” to that default place and it would stay there forever.
