tailieunhanh - Lecture Project management: The managerial process (5/e): Chapter 5 - Erik W. Larson, Clifford F. Gray

Chapter 5 - Estimating project times and costs. The main contents of the chapter consist of the following: Factors influencing the quality of estimates; estimating guidelines for times, costs, and resources; top-down versus bottom-up estimating; methods for estimating project times and costs; level of detail; types of costs; refining estimates; creating a database for estimating. | Where We Are Now 5– Estimating Projects Estimating The process of forecasting or approximating the time and cost of completing project deliverables. The task of balancing expectations of stakeholders and need for control while the project is implemented. Types of Estimates Top-down (macro) estimates: analogy, group consensus, or mathematical relationships Bottom-up (micro) estimates: estimates of elements of the work breakdown structure 5– Why Estimating Time and Cost Are Important EXHIBIT To support good decisions. To schedule work. To determine how long the project should take and its cost. To determine whether the project is worth doing. To develop cash flow needs. To determine how well the project is progressing. To develop time-phased budgets and establish the project baseline. 5– Factors Influencing the Quality of Estimates Quality of Estimates Project Duration People Project Structure and Organization Padding Estimates Organization Culture Other . | Where We Are Now 5– Estimating Projects Estimating The process of forecasting or approximating the time and cost of completing project deliverables. The task of balancing expectations of stakeholders and need for control while the project is implemented. Types of Estimates Top-down (macro) estimates: analogy, group consensus, or mathematical relationships Bottom-up (micro) estimates: estimates of elements of the work breakdown structure 5– Why Estimating Time and Cost Are Important EXHIBIT To support good decisions. To schedule work. To determine how long the project should take and its cost. To determine whether the project is worth doing. To develop cash flow needs. To determine how well the project is progressing. To develop time-phased budgets and establish the project baseline. 5– Factors Influencing the Quality of Estimates Quality of Estimates Project Duration People Project Structure and Organization Padding Estimates Organization Culture Other (Nonproject) Factors Planning Horizon 5– Estimating Guidelines for Times, Costs, and Resources Have people familiar with the tasks make the estimate. Use several people to make estimates. Base estimates on normal conditions, efficient methods, and a normal level of resources. Use consistent time units in estimating task times. Treat each task as independent, don’t aggregate. Don’t make allowances for contingencies. Adding a risk assessment helps avoid surprises to stakeholders. 5– Top-Down versus Bottom-Up Estimating Top-Down Estimates Are usually are derived from someone who uses experience and/or information to determine the project duration and total cost. Are made by top managers who have little knowledge of the processes used to complete the project. Bottom-Up Approach Can serve as a check on cost elements in the WBS by rolling up the work packages and associated cost accounts to major deliverables at the work package level. 5– Top-Down versus Bottom-Up Estimating TABLE .

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• Project management
• Managerial process
• Lecture Project management
• Estimating project times
• Estimating projects
• Quality of estimates
• Information technology project management
• Information technology project
• Project portfolio management
• Project management profession
• Project management framework
• Project management context
• Project life cycle
• Project management process
• Lecture Project management in practice
• Modern project management
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• Project scope management
• Importance of scope management
• Project scope management processes
• Project Time Management
• Project Cost Management
• Project Quality Management
• Project management institute
• Project human resource management
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• Project integration management
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• Cost management
• Cost management plan
• Project plan
• Integration change control
• Project management principles
• Project management definition
• Project management perspectives
• Project stakeholder definition
• Project life cycle definition
• Project Management in Practice Dr Neil Project management
• Project organisational structures
• Balanced matrix
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• Time constrained project
• Project schedule
• Extended network techniques
• Project Governance
• Lecture Information technology project management
• Project management statistics
• Project sponsor
• Project Analysis Under Risk
• Project Analysis
• project costs
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• project management for small business
• Risk management planning
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• Managing project teams
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• Essential Formulae
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• Project management in practice
• Evaluating the project
• Terminating the project
• Project auditing
• Project termination