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Project Cost and Scheduling

In: Business and Management

Submitted By bolivar1
Words 14442
Pages 58
Welcome to Week 1! Project Scope Definition and WBS

In this course, we will explore project cost and schedule control! The focus of this week is developing the scope and the work breakdown structure (WBS). We will use the WBS to specifically detail the tasks required to complete any project. The scope is the starting document of a project. It defines the project. The WBS is created from the scope and is the basis on which several other project documents, such as the budget and schedule, will be derived from. Because the WBS is one of the foundations to our planning effort, it is critical to know and understand this tool. Shortcomings in the scope or WBS will translate to the rest of our planning documents resulting in real failures during project execution to attain goals in scope, cost, and schedule. It is, therefore, of primary importance that the scope and WBS are inclusive and detailed. Just remember that as a project manager, your family comes first but the project scope and WBS are not far behind.
Cost and schedule form two sides of the iron triangle of project management with the third side being the collection of scope, quality, and performance. This makes cost and schedule paramount concerns to a project manager. Cost and schedule control on a project are vital to a successful project.

As you know, this course is named Project Schedule and Cost Control, which may imply that the project is underway and it's time to go to work. However, the process for project control has to start with a plan, because without a plan, it is impossible to know where we are going or to judge how we are doing at getting there. This week, we will cover creating the project plan that will help us create a foundation for the rest of the course. The primary parts of the plan are the budget, the schedule, and the multitude of details that fill these out. We will...

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