THE MANAGERIAL PROCESS P ro ject M a n a g em en t P ro ject M a n a g em en t PowerPoint Presentation by Charlie Cook PowerPoint Presentation by Charlie Cook The University of West Alabama The University of West Alabama Clifford F. Gray Eric W. Larson Estimating Project Times and Estimating Project Times and Costs Costs Chapter 5
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THE MANAGERIAL PROCESS PowerPoint Presentation by Charlie Cook The University of West Alabama Clifford F. Gray Eric W. Larson Estimating Project Times.
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THE MANAGERIAL PROCESSTHE MANAGERIAL PROCESS
Pr ojec t ManagementPr ojec t Management
PowerPoint Presentation by Charlie CookPowerPoint Presentation by Charlie CookThe University of West AlabamaThe University of West Alabama
Clifford F. Gray
Eric W. Larson
Clifford F. Gray
Eric W. Larson
Estimating Project Times and CostsEstimating Project Times and Costs
Why Estimating Time and Cost Are ImportantWhy Estimating Time and Cost Are ImportantWhy Estimating Time and Cost Are ImportantWhy Estimating Time and Cost Are Important
EXHIBIT 5.1
• Estimates are needed to support good decisions.• Estimates are needed to schedule work.• Estimates are needed to determine how long the project
should take and its cost.• Estimates are needed to determine whether the project
is worth doing.• Estimates are needed to develop cash flow needs.• Estimates are needed to determine how well the project
is progressing.• Estimates are needed to develop time-phased budgets
Factors Influencing the Quality of EstimatesFactors Influencing the Quality of EstimatesFactors Influencing the Quality of EstimatesFactors Influencing the Quality of Estimates
Quality of Quality of EstimatesEstimates
Quality of Quality of EstimatesEstimates
ProjectProjectDurationDuration
ProjectProjectDurationDuration
PeoplePeoplePeoplePeople
Project Structure Project Structure and Organizationand Organization
Project Structure Project Structure and Organizationand Organization
PaddingPaddingEstimatesEstimates
PaddingPaddingEstimatesEstimates
OrganizationOrganizationCultureCulture
OrganizationOrganizationCultureCulture
Other (Nonproject)Other (Nonproject)FactorsFactors
Other (Nonproject)Other (Nonproject)FactorsFactors
Apportion Method of Allocating Project Costs Apportion Method of Allocating Project Costs Using the Work Breakdown StructureUsing the Work Breakdown Structure
Apportion Method of Allocating Project Costs Apportion Method of Allocating Project Costs Using the Work Breakdown StructureUsing the Work Breakdown Structure
Simplified Basic Function Point Count Process Simplified Basic Function Point Count Process for a Prospective Project or Deliverablefor a Prospective Project or Deliverable
Simplified Basic Function Point Count Process Simplified Basic Function Point Count Process for a Prospective Project or Deliverablefor a Prospective Project or Deliverable
Phase Estimating over Product Life CyclePhase Estimating over Product Life CyclePhase Estimating over Product Life CyclePhase Estimating over Product Life Cycle
• Reasons for Adjusting Estimates–Interaction costs are hidden in estimates.–Normal conditions do not apply.–Things go wrong on projects.–Changes in project scope and plans.
• Adjusting Estimates–Time and cost estimates of specific activities are
adjusted as the risks, resources, and situation particulars become more clearly defined.