Maylor (2003) proposed the 4-D Model to effectively deliver a project. He identifies the stages as: Define the project. According to Maylor (2003), this involves determining what the project is about and its reason for existence. At this stage possible alternatives to the problems which are presented can be explored. Denis (2010) states that ‘before any person or organization considers investment in a new project, before a contractor can begin to prepare a tender for undertaking work for a customer
Words: 1109 - Pages: 5
Background-Case Overview The Estimating Problem Case Study is the process of estimating the duration of a project. It is a significant part of the planning process of a project. Estimating is a best guess and it is well thought out based on using various estimating techniques as well as all available resources related to a project. Barbara’s company successfully won a competitive bid. As the Project Manager on the project as well she was not part of the bidding process, but she had extensive knowledge
Words: 2663 - Pages: 11
Project management Approaches While estimating a project, the first step is to derive the size of the project so as to guide in estimation of other parameters, such as cost, schedule, and effort. With an accurate estimation of the size of your project done, you can carry out estimation of the required effort. This conversion from project size to total project effort is done after you have defined the project development lifecycle and development process that your team should follow to specify,
Words: 1620 - Pages: 7
Five Questions a Project Manager Should Ask About Every Estimate Anthony A DeMarco, President, PRICE Systems, L.L.C. Introduction Every day, project managers make decisions based on estimates. Since each decision can determine whether a project succeeds or fails, accurate estimates are critical. Projects launched without a rigorous initial estimate are five times more probable of experiencing delays and cancellations. Even projects with sound initial estimates are doomed to overrun cost and schedule
Words: 1955 - Pages: 8
Information Systems Project Management Unit 3 Assignment 1 Kaplan University IT511 Professor Chad McAllister February 16, 2013 1. Explain project scope management in terms of its processes. Scope management is the process of defining and controlling the work that is or is not included in the project (Schwalbe, 2012). This outlines to the team and stakeholders the product that will be produced and the processes that will be used to produce that product. The project scope management
Words: 2413 - Pages: 10
Assignment 2: Project Motorcycles BUS 375 Project Management May 8, 2015 Select one (1) of the types of project organization that would suit the development of the larger touring class motorcycles. Outline the process steps that your company would take in order to develop the motorcycle. Provide a rationale for the response. The type of project organization that would suit the development of the larger touring class motorcycles would be the project driven organization. According to Kerzner
Words: 1206 - Pages: 5
GenRays Matrix Template Project Management Knowledge Areas|Recommended Tool(s)|Justification for Tool| Project Integration Management | Expert Judgment|-PM Plan is Formal, single document, approved (becomes officially the project plan. It defines how project is executed and controlled. Scope, schedule, and Cost, Change, and Configuration Management plans are created in this process and are part of the PM plan- Scope Management plan is developed here as well.| Project Scope Management | -Interviews
Words: 728 - Pages: 3
Estimating Projects • Estimating –The process of forecasting or approximating the time and cost of completing project deliverables. –The task of balancing the expectations of stakeholders and the 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 Copyright © 2006 The McGraw-Hill Companies. All rights reserved
Words: 574 - Pages: 3
Risk Analysis Estimating Methods - Scheduling Risks As Applied to the Panama Canal Case Study 11/8/2010 Kendrick argues that establishing project planning is a necessary key requirement of managing project schedule risk (2009, p.334). Regardless of how thoroughly a project manager works to ensure that a project’s schedule is accurate, he or she cannot fully control the inevitable and random influences that may negatively impact their project schedule. Equipment failures, nature, and sick
Words: 802 - Pages: 4
Analogous Estimating: An estimating technique that uses the cost along with measures of scale such as size, weight or complexity from a previous project to estimate cost for a similar future project. (Aka Top Down, -40% to +100%) Parametric Estimating: An estimating technique that uses a statistical relationship between historical data and other variables to calculate project costs. (More accurate, -30% to +50%) Bottom-Up Estimating: Estimating project decomposed of detail, time consumption, most
Words: 584 - Pages: 3
