A Comprehensive Beginners Guide To Cost Planning

•

4 likes•1,892 views

This presentation takes you through the essential steps of cost planning through pictures. It describes how cost planning starts from scope planning and time planning. It then goes on to describe the steps involved in estimating activity costs and determining budget.

Education

Cost Planning
A Comprehensive Beginners Guide
1
Designed and Developed by https://www.pmbypm.com | Copyright 2018

• Create Scope Statement
• Create WBS
• Identify Work Package
Scope Planning
•Decompose Work Packages
•Identify activities
•Estimate Activity Resources
•Estimate Activity Duration
•Develop Schedule
Time Planning
• Activity Cost Estimation
• Determine Budget
Cost Planning
2
Designed and Developed by https://www.pmbypm.com | Copyright 2018

Scope Planning
 For more details about Scope Planning, refer to –
https://www.slideshare.net/pmalik2/ignore-project-scope-wbs-at-your-own-peril-
84976876
4
Designed and Developed by https://www.pmbypm.com | Copyright 2018

5
Designed and Developed by https://www.pmbypm.com | Copyright 2018
Cost Baseline
Project ComponentProject Component
Contingency
Reserves
Project
Work Package A Work Package B Work Package C
Create WBS

Time Planning
 https://www.slideshare.net/pmalik2/5-steps-of-project-scheduling-process-for-
absolute-beginners-86265406
 https://www.slideshare.net/pmalik2/how-project-network-diagrams-can-help-you-
become-a-better-project-manager
 https://www.slideshare.net/pmalik2/4-project-estimation-techniques-that-can-
make-you-super-successful
 https://www.slideshare.net/pmalik2/successful-project-managers-use-these-5-
ways-to-represent-project-schedule
7
Designed and Developed by https://www.pmbypm.com | Copyright 2018
For more details about Time Planning, refer to –

Time Planning
 STEP 1 – Identify Activities by Decomposing Work Packages
 STEP 2 – Develop Schedule After Sequencing and Estimation
8
Designed and Developed by https://www.pmbypm.com | Copyright 2018

9
Designed and Developed by https://www.pmbypm.com | Copyright 2018
Cost Baseline
Project ComponentProject Component
Contingency
Reserves
Project
Work Package A Work Package B Work Package C
Activity 2Activity 1 Activity 3 Activity 4
STEP 1 – Identify
Activities

10
Designed and Developed by https://www.pmbypm.com | Copyright 2018
STEP 2 – Develop
Schedule

Activity Cost Estimation
 Estimate Activity Costs
 Include Resource Cost and Vendor Costs
 Include Direct Costs and Indirect Costs
 Add Activity Reserves
12
Designed and Developed by https://www.pmbypm.com | Copyright 2018

Designed and Developed by https://www.pmbypm.com | Copyright 2018
13 Cost Baseline
Project ComponentProject Component
Contingency
Reserves
Project
Work Package A Work Package B Work Package C
Activity B
$750
Activity A
$1800
Activity C
$900
Activity D
$1550
Estimate Activity
Costs

Determine Budget
 STEP 1 – Determine WP Cost by Aggregating Costs of Activities
 STEP 2 – Determine Total Project Cost by Aggregating WP Costs
 STEP 3 – Estimate Project Contingency Reserves
 STEP 4 – Add Contingency Reserves to Project Cost to determine Cost Baseline
 STEP 5 – Optimize Project Schedule & Develop Time Phased Project Budget
14
Designed and Developed by https://www.pmbypm.com | Copyright 2018

Designed and Developed by https://www.pmbypm.com | Copyright 2018
15 Cost Baseline
Project ComponentProject Component
Contingency
Reserves
Project
Work Package A
$3200
Work Package B
$5000
Work Package C
$1800
Activity
B $750
Activity A
$1800
Activity C
$900
Activity D
$1550
STEP 1 –
Aggregate
Activities Cost

Designed and Developed by https://www.pmbypm.com | Copyright 2018
16 Cost Baseline
Project ComponentProject Component
Contingency
Reserves
Project $9000
Work Package A
$3200
Work Package B
$5000
Work Package C
$1800
Activity
B $750
Activity A
$1800
Activity C
$900
Activity D
$1550
STEP 2 –
Aggregate WP
Cost

Designed and Developed by https://www.pmbypm.com | Copyright 2018
17
Cost Baseline
Project ComponentProject Component
Contingency
Reserves $1000
Project $9000
Work Package A
$3200
Work Package B
$5000
Work Package C
$1800
Activity
B $750
Activity A
$1800
Activity C
$900
Activity D
$1550
STEP 3 - Estimate
Contingency
Reserves

STEP 4 - Cost
Baseline = Project
Cost + Contingency
Reserves
Designed and Developed by https://www.pmbypm.com | Copyright 2018
18
Cost Baseline
$10000
Project ComponentProject Component
Contingency
Reserves $1000
Project $9000
Work Package A
$3200
Work Package B
$5000
Work Package C
$1800
Activity
B $750
Activity A
$1800
Activity C
$900
Activity D
$1550

STEP 5 - Time Phased Cost Baseline
Designed and Developed by https://www.pmbypm.com | Copyright 2018
19
Cost Baseline
CumulativeCost
Time

YOUR OPINION IS IMPORTANT TO US
For Any Questions Or Suggestions Contact Us @
https://www.pmbypm.com/contact-praveen-malik/
Designed and Developed by https://www.pmbypm.com | Copyright 2018
20

This document discusses estimating the expected total cost (estimate at completion or EAC) of a project using different scenarios and formulas. It defines EAC and explains how to calculate it by adding actual costs to date and estimated future costs. Five scenarios for calculating ETC and EAC are presented: (1) assuming future performance matches past, (2) assuming 100% future efficiency, (3) assuming a new estimated efficiency, (4) re-estimating remaining work, and (5) adjusting for schedule performance. Formulas for ETC and EAC are provided for each scenario using variables like BAC, EV, CPI, and SPI. An example project is used to demonstrate calculating the EAC under each scenario.

Learn The Right Way To Apply TCPI Formulas In Project Management

Praveen Malik, PMP

The document discusses the To Complete Performance Index (TCPI), which is a measure of the future projected cost efficiency needed to complete the remaining work of a project within its original or revised budget. It provides definitions of TCPI and contrasts it with Cost Performance Index (CPI). An example project is used to demonstrate how to calculate TCPI using formulas that take the budget at completion (BAC), actual costs (AC), earned value (EV), and estimate to complete (ETC) into account. Formulas are presented for calculating TCPI based on the original budget and when the budget has been revised.

Calculating ETC In 4 Different Scenarios

Praveen Malik, PMP

Successful Project Managers Use These 5 Ways to Represent Project Schedule

Praveen Malik, PMP

5 Steps Of Project Scheduling Process For Absolute Beginners

Praveen Malik, PMP

4 Project Estimation Techniques That Can Make You Super Successful

Praveen Malik, PMP

The document discusses various project estimation techniques including expert judgement, analogous estimation, parametric estimation, three point estimation using triangular and beta distributions, and reserve analysis. Expert judgement relies on expertise to estimate time and costs. Analogous estimation uses historical data from similar past projects. Parametric estimation uses algorithms and historical data and project parameters to calculate estimates. Three point estimation derives an average from optimistic, pessimistic, and most likely estimates. Reserve analysis adds additional estimates to account for uncertainties through buffers for schedule, budget, costs or resources.

Methodologies of Project Progress Measurement

Amit Kumar Senapati, PMP®

The document provides guidelines for planning outages at the Eskom Hendrina Power Station. It describes the four types of outages that can occur: general overhaul, mini general overhaul, interim repair, and forced outage. The planning process involves developing a project management plan, determining project requirements for scope, schedule, cost, quality, communication, risk, procurement, and stakeholder management. It also describes collecting contractor work schedules, integrating them into the Primavera P6 software, and updating project schedules on a daily/weekly basis during outages. Cleaning up non-standard data when importing schedules between different Primavera software versions is also outlined.

MS Project Management (Overviews) | Software Mange Tool | Software Project Ma...

Kuldeep Kumar

Microsoft Project is a project management software developed by Microsoft to help project managers develop plans, assign resources to tasks, track progress, manage budgets, and analyze workloads. It was initially created as an internal tool at Microsoft to manage software projects. Key features include creating schedules using Gantt charts, assigning resources to tasks, tracking progress against a baseline, and analyzing critical paths and time-cost tradeoffs like crashing. Project managers use MS Project to plan by defining goals, developing tasks, establishing timeframes, organizing resources, and setting up the overall project structure and schedule.

BIM SHOW LIVE 14 - 4D BIM: successful implementation at Gravesened Railway St...

BuiltEnvironmentUBM

Earned Value Analysis in Project Management — an Easy Cheat Sheet 🡆 http://b...

Tipsographic . com

4D bim construction scheduling on the 1885 St. James pl. project

Dat Lien

Ms project presentation

Khem Singh

Microsoft Project is a project management software that allows users to define tasks, assign resources and track schedule and budget. It was first released in 1984 and helps project managers plan by creating Gantt charts and calculating critical paths. Key features include task scheduling, resource allocation, budget tracking and progress monitoring. The software allows defining projects, building plans, assigning resources, tracking progress against baselines and closing completed projects.

Lesson in fs cpm,cpa

Holy Angel University

This document discusses critical path method (CPM) and critical path analysis (CPA) for project management. It defines CPM and CPA, explains that CPM is used to determine the critical path or longest sequence of dependent activities, and notes that CPA is important for management to make decisions. The document provides instructions on how to identify activity predecessors and durations, compute earliest and latest finish times, and identify the critical path. Managers are advised to take action if delays occur on the critical path. An example CPM network is given and students are assigned to create their own CPM, identify the critical path, and suggest management solutions.

Jason douglas earned value 1 0

Jason Douglas

Earned value management (EVM) assesses a project's schedule and cost performance. It is based on the concept that work completed delivers value equal to the budget spent. Reasons EVM is not used include projects being too complex, lack of requirements, and inaccurate plans. EVM requires a baseline budget and integrated work breakdown structure, schedule, and budget. Formulas like schedule variance, cost variance, schedule performance index, and cost performance index are used to analyze performance. A scenario demonstrated calculating EVM metrics for a fence building project. The document discussed interpreting EVM data and considering factors like physical measurement and percentage complete for determining earned value.

EVM in MS Project

orsmoot

PMP Exam Preparation Course: 06 Project Cost Management

B M Shahrier Majumder, PMP, CSM

The document discusses key aspects of project cost management for PMP exam preparation. It describes the processes of estimate cost, determine budget, and control costs. For each process, it outlines the inputs, tools and techniques, and outputs. It also provides examples of tools like bottom-up estimating, earned value management, and variance analysis that are used to estimate costs, set the budget baseline, and monitor project performance against the budget. Definitions of important cost management terms like net present value, internal rate of return, and payback period are also included.

Earned value

Oliver

This document provides an overview of earned value analysis for project management. It defines key earned value terms and discusses how earned value can be used to enhance project performance by providing early awareness of potential issues. The document outlines an agenda for an earned value analysis training, including introducing earned value concepts and metrics, comparing forecasting methods, defining terminology, and providing a calculation example. It emphasizes that successful earned value implementation requires establishing a work breakdown structure, cost and schedule baselines, and processes for tracking progress and costs.

Police Headquarters Guaranteed Maximum Price

City of College Station

13 lecture project management

Ahmad Basim Hamza

Project management involves planning and controlling temporary endeavors to achieve unique goals within constraints. A project has defined start and end dates, resources, and deliverables. It requires leadership and coordination across interdependent tasks. Common project management techniques include work breakdown structures, Gantt charts, critical path methods, and network diagrams to schedule activities and monitor progress. The critical path is the longest sequence of dependent tasks that determines the project's duration.

Dashboard

Marsha Cooper

Earned value analysis training

Paul King

The document provides an overview of earned value analysis (EVA) training. It defines EVA as a project management technique for monitoring cost and schedule performance by comparing actual and budgeted resources. The training will cover what EVA is, why it is used, how EVA metrics like cost variance, schedule variance and estimate at completion are calculated, and examples of how EVA is applied. Attendees will learn how EVA can identify if a project is over budget or ahead of schedule so corrective actions can be taken.

160155061 project-monitoring-control

eidalin95

Project monitoring and control involves collecting data on project performance and using it to control the project and ensure it stays on track. Key aspects of monitoring include what to monitor (inputs, outputs, time, costs, quality), when to monitor (regularly and at milestones), and how (meetings, reports, Earned Value Analysis). Earned Value Analysis compares the budgeted cost of work performed, actual cost of work performed, and budgeted cost of work scheduled to calculate cost and schedule variances, helping project managers identify issues. Other techniques for monitoring and control include critical ratios and re-planning as needed to correct deviations from the project plan.

project control using earned value analysis - Part 01

waleed hamdy

E2E - ERP integrated planning for Pay costs

Anatoly Ryabukha

This document outlines the E2E process for integrated ERP planning of pay costs. It involves: 1) Transferring personal cost plans to CO and moving plan data to FM for one-time pay cost planning. 2) Using assessment cycles to allocate management/control costs and direct labor to budgets. 3) Moving plan costs between budgets via assessment cycles and inputting plan quantities and calculating plan prices for technical cost centers and budgets. 4) After allocation and input, summary figures will be available on technical cost centers and budgets.

Investment Planning: Meeting today's challenges and planning for the future

seamsltd

2_Project Scope Management

Hisham Haridy MBA, PMP®, RMP®, SP®

This document discusses project scope management based on the PMBOK 6th Edition. It begins with an overview of scope management processes including plan scope management, collect requirements, define scope, create WBS, validate scope, and control scope. It then provides more details on various inputs, tools and techniques, and outputs for the plan scope management and collect requirements processes. The document also discusses the differences between product scope and project scope, as well as considerations for scope management in agile projects.

C03.08-09-ExecutionMonitoringControl.key.pdf

ssuser8babb7

The document discusses project execution, monitoring, and control. It introduces the activities needed to implement a plan, techniques for monitoring progress and costs against the schedule and budget, and Earned Value Analysis for integrated monitoring. Project execution involves kicking off activities, collecting outputs, and monitoring status. Monitoring includes comparing actuals to plans, identifying deviations, and replanning if needed. Earned Value Analysis measures schedule, costs, and progress together for a comprehensive view by comparing planned, actual, and earned monetary values over time.

File 3 extra four slides 1

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute to standardize project management practices. It defines the 9 knowledge areas that make up the PMBOK: project integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management. Each knowledge area includes several processes for planning, executing, monitoring/controlling, and closing the project.

What's hot

Outage planning

Amit Kumar Senapati, PMP®

MS Project Management (Overviews) | Software Mange Tool | Software Project Ma...

Kuldeep Kumar

BIM SHOW LIVE 14 - 4D BIM: successful implementation at Gravesened Railway St...

BuiltEnvironmentUBM

Earned Value Analysis in Project Management — an Easy Cheat Sheet 🡆 http://b...

Tipsographic . com

4D bim construction scheduling on the 1885 St. James pl. project

Dat Lien

Ms project presentation

Khem Singh

Lesson in fs cpm,cpa

Holy Angel University

Jason douglas earned value 1 0

Jason Douglas

EVM in MS Project

orsmoot

PMP Exam Preparation Course: 06 Project Cost Management

B M Shahrier Majumder, PMP, CSM

Earned value

Oliver

Police Headquarters Guaranteed Maximum Price

City of College Station

13 lecture project management

Ahmad Basim Hamza

Dashboard

Marsha Cooper

Earned value analysis training

Paul King

160155061 project-monitoring-control

eidalin95

project control using earned value analysis - Part 01

waleed hamdy

E2E - ERP integrated planning for Pay costs

Anatoly Ryabukha

What's hot (18)

Outage planning

MS Project Management (Overviews) | Software Mange Tool | Software Project Ma...

BIM SHOW LIVE 14 - 4D BIM: successful implementation at Gravesened Railway St...

Earned Value Analysis in Project Management — an Easy Cheat Sheet 🡆 http://b...

4D bim construction scheduling on the 1885 St. James pl. project

Ms project presentation

Lesson in fs cpm,cpa

Jason douglas earned value 1 0

EVM in MS Project

PMP Exam Preparation Course: 06 Project Cost Management

Earned value

Police Headquarters Guaranteed Maximum Price

13 lecture project management

Dashboard

Earned value analysis training

160155061 project-monitoring-control

project control using earned value analysis - Part 01

E2E - ERP integrated planning for Pay costs

Similar to A Comprehensive Beginners Guide To Cost Planning

Investment Planning: Meeting today's challenges and planning for the future

seamsltd

2_Project Scope Management

Hisham Haridy MBA, PMP®, RMP®, SP®

C03.08-09-ExecutionMonitoringControl.key.pdf

ssuser8babb7

File 3 extra four slides 1

test prod1

File 3 removed 1 word 2

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute. The PMBOK documents and standardizes project management knowledge and practices. It identifies 9 knowledge areas that define the scope of project management: project integration management, scope management, time management, cost management, quality management, human resource management, communication management, risk management, and procurement management. Each knowledge area includes several processes that must be planned, monitored and controlled to ensure project success.

GAFM Academy - THE ESSENTIALS OF PLANNING AND SCOPING A PROJECT

GAFM Academy of Project Management ® - ISO 29990 Certified International Board of Standards

masVenta hybrid-project-management-june-2017 - Agile Austria Graz 2017

Rainer Wendt, PMP, PMI-ACP, PMI-PBA, CBAP

Robust Hybrid rather than Agile or Waterfall – why there is finally no alternative For years there has been a trench warfare between the agile advocates and the traditionalists about which way is better, faster and cheaper - Agile or Waterfall. Introducing Agile in parallel with existing Waterfall processes is a great challenge for many companies. When Macro Management meets Micro Management, processes need to be reviewed and adapted, requiring sensitivity and cooperation. Rainer Wendt will provide useful insights from his experience introducing agile practises in a Waterfall environment, following a practical and feasible hybrid approach where the benefits of Agile can still be realized. You will learn • Why projects must not be categorized into Agile and Waterfall, robust Hybrid projects will make it • Where PMO and Program Management need to be patient with Agile people • What agile Teams need to consider when communicating with and reporting to Waterfall people and vice versa

File 3 removed 1 word from 5 slides 2

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is a collection of generally accepted project management practices. It identifies 9 knowledge areas that are central to project management: integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management. Each knowledge area involves several core processes for planning, executing, monitoring, and controlling the project. The PMBOK provides a standardized approach for defining and managing project work.

PMP Module 4 - Cost

Cybrary

Part of Cybrary's PMP certification course, these slides describe the 4th of 10 Knowledge Areas discussed in the video series. If you're interested, please watch the videos and download the rest of the slides from out site - Cybrary.IT Cybrary's goal is to provide knowledge for FREE! We believe IT and Cyber Security training should be free, for everyone, forever. Join us in demanding liberation, and help us in forcing change. #hacktheindustry Like us on Facebook: https://www.facebook.com/cybraryit/timeline or Follow us on Twitter: https://twitter.com/cybraryIT (@cybraryIT) & on Instagram: @cybrary.it

File 3 original copy 1

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute to standardize project management practices. It identifies 9 knowledge areas that are central to project management: project integration management, scope management, time management, cost management, quality management, human resource management, communication management, risk management, and procurement management. Each knowledge area involves several core processes for planning, executing, monitoring, and controlling the given aspect of a project.

File 3 original copy 2

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute to standardize project management practices. It identifies 9 knowledge areas that are central to project management: project integration management, scope management, time management, cost management, quality management, human resource management, communication management, risk management, and procurement management. Each knowledge area involves several core processes for planning, executing, monitoring, and controlling the given aspect of a project.

File 3 original

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is a collection of generally accepted project management practices. It identifies 9 knowledge areas that are central to project management: integration management, scope management, time management, cost management, quality management, human resource management, communication management, risk management, and procurement management. Each knowledge area involves several core processes for planning, executing, monitoring, and controlling the project. The PMBOK provides standard processes and terminology to help define and manage projects.

File 3 removed 1 word 1

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute. The PMBOK documents generally accepted project management practices and is revised every 4 years. It identifies 9 knowledge areas that define the scope of project management. These include project integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management. Each knowledge area involves several processes for planning, executing, monitoring, and controlling the specific area of the project.

File 3 removed 1 word from 5 slides 1

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute. The PMBOK defines 9 knowledge areas that are important for project management: project integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management. Each knowledge area includes several processes for planning, executing, monitoring, and controlling projects.

Session 21 4th edition PMP

محمد عصمت عبد الرازق

Project Integration Management involves developing a project charter, project management plan, directing and managing project execution, monitoring and controlling project work, performing integrated change control, and closing the project. The project charter formally authorizes the project. The project management plan documents all plans and baselines needed to manage the project. It establishes scope, schedule, and cost baselines against which performance is measured. Change management, configuration management, and other plans are also included.

PgMP_Brain Dump

Jen Braly, PgMP, PMP

The document outlines the key stages in a benefits program lifecycle: 1. Define - Establish the program charter, roadmap, and initial estimates for costs, scope, and resources. Assign a sponsor and program manager. 2. Deliver - Kick off the program team and develop key management plans and artifacts. Oversee component planning, execution, and integration. 3. Close - Transition components, identify ongoing needs, obtain approval to close, archive artifacts, and complete closeout activities.

Robust Hybrid rather than Agile or Waterfall

Agile Austria Conference

File 3 removed 5 words 2

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is produced by the Project Management Institute to standardize project management practices. It identifies the 9 knowledge areas that make up the PMBOK: project integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management. Each knowledge area involves several processes for planning, executing, monitoring and controlling the associated aspects of a project.

File 3 extra four slides 2

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK) which defines generally accepted project management practices. It identifies the 9 knowledge areas that make up the PMBOK, including project integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management. Each knowledge area involves several processes for planning, executing, monitoring and controlling the specific area of project management.

File 3 removed 5 words 1

test prod1

The document discusses the Project Management Body of Knowledge (PMBOK), which is a collection of generally accepted project management practices. It is produced by the Project Management Institute and revised every 4 years. The PMBOK defines 9 knowledge areas of project management: integration, scope, time, cost, quality, human resources, communications, risk, and procurement. Each knowledge area involves several processes for planning, executing, monitoring and controlling the project from initiation to closure.

Similar to A Comprehensive Beginners Guide To Cost Planning (20)

Investment Planning: Meeting today's challenges and planning for the future

2_Project Scope Management

C03.08-09-ExecutionMonitoringControl.key.pdf

File 3 extra four slides 1

File 3 removed 1 word 2

GAFM Academy - THE ESSENTIALS OF PLANNING AND SCOPING A PROJECT

masVenta hybrid-project-management-june-2017 - Agile Austria Graz 2017

File 3 removed 1 word from 5 slides 2

PMP Module 4 - Cost

File 3 original copy 1

File 3 original copy 2

File 3 original

File 3 removed 1 word 1

File 3 removed 1 word from 5 slides 1

Session 21 4th edition PMP

PgMP_Brain Dump

Robust Hybrid rather than Agile or Waterfall

File 3 removed 5 words 2

File 3 extra four slides 2

File 3 removed 5 words 1

Recently uploaded

Bonku-Babus-Friend by Sathyajith Ray (9)

nitinpv4ai

HYPERTENSION - SLIDE SHARE PRESENTATION.

deepaannamalai16

RHEOLOGY Physical pharmaceutics-II notes for B.pharm 4th sem students

Himanshu Rai

Wound healing PPT

Jyoti Chand

This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications. A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function. Healing is the body’s response to injury in an attempt to restore normal structure and functions. Healing can occur in two ways: Regeneration and Repair There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc. Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.

Skimbleshanks-The-Railway-Cat by T S Eliot

nitinpv4ai

How to Predict Vendor Bill Product in Odoo 17

Celine George

Geography as a Discipline Chapter 1 __ Class 11 Geography NCERT _ Class Notes...

ImMuslim

BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 8 - CẢ NĂM - FRIENDS PLUS - NĂM HỌC 2023-2024 (B...

Nguyen Thanh Tu Collection

How to Download & Install Module From the Odoo App Store in Odoo 17

Celine George

Custom modules offer the flexibility to extend Odoo's capabilities, address unique requirements, and optimize workflows to align seamlessly with your organization's processes. By leveraging custom modules, businesses can unlock greater efficiency, productivity, and innovation, empowering them to stay competitive in today's dynamic market landscape. In this tutorial, we'll guide you step by step on how to easily download and install modules from the Odoo App Store.

Pharmaceutics Pharmaceuticals best of brub

danielkiash986

Bossa N’ Roll Records by Ismael Vazquez.

IsmaelVazquez38

CapTechTalks Webinar Slides June 2024 Donovan Wright.pptx

CapitolTechU

How Barcodes Can Be Leveraged Within Odoo 17

Celine George

Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...

TechSoup

Leveraging Generative AI to Drive Nonprofit Innovation

TechSoup

BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...

Nguyen Thanh Tu Collection

REASIGNACION 2024 UGEL CHUPACA 2024 UGEL CHUPACA.pdf

giancarloi8888

The basics of sentences session 7pptx.pptx

heathfieldcps1

MDP on air pollution of class 8 year 2024-2025

khuleseema60

Electric Fetus - Record Store Scavenger Hunt

RamseyBerglund

Recently uploaded (20)

Bonku-Babus-Friend by Sathyajith Ray (9)

HYPERTENSION - SLIDE SHARE PRESENTATION.

RHEOLOGY Physical pharmaceutics-II notes for B.pharm 4th sem students

Wound healing PPT

Skimbleshanks-The-Railway-Cat by T S Eliot

How to Predict Vendor Bill Product in Odoo 17

Geography as a Discipline Chapter 1 __ Class 11 Geography NCERT _ Class Notes...

BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 8 - CẢ NĂM - FRIENDS PLUS - NĂM HỌC 2023-2024 (B...

How to Download & Install Module From the Odoo App Store in Odoo 17

Pharmaceutics Pharmaceuticals best of brub

Bossa N’ Roll Records by Ismael Vazquez.

CapTechTalks Webinar Slides June 2024 Donovan Wright.pptx

How Barcodes Can Be Leveraged Within Odoo 17

Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...

Leveraging Generative AI to Drive Nonprofit Innovation

BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...

REASIGNACION 2024 UGEL CHUPACA 2024 UGEL CHUPACA.pdf

The basics of sentences session 7pptx.pptx

MDP on air pollution of class 8 year 2024-2025

Electric Fetus - Record Store Scavenger Hunt

A Comprehensive Beginners Guide To Cost Planning

2. • Create Scope Statement • Create WBS • Identify Work Package Scope Planning •Decompose Work Packages •Identify activities •Estimate Activity Resources •Estimate Activity Duration •Develop Schedule Time Planning • Activity Cost Estimation • Determine Budget Cost Planning 2 Designed and Developed by https://www.pmbypm.com | Copyright 2018

3. • Create Scope Statement • Create WBS • Identify Work Package Scope Planning •Decompose Work Packages •Identify activities •Estimate Activity Resources •Estimate Activity Duration •Develop Schedule Time Planning • Activity Cost Estimation • Determine Budget Cost Planning 3 Designed and Developed by https://www.pmbypm.com | Copyright 2018

4. Scope Planning  For more details about Scope Planning, refer to – https://www.slideshare.net/pmalik2/ignore-project-scope-wbs-at-your-own-peril- 84976876 4 Designed and Developed by https://www.pmbypm.com | Copyright 2018

5. 5 Designed and Developed by https://www.pmbypm.com | Copyright 2018 Cost Baseline Project ComponentProject Component Contingency Reserves Project Work Package A Work Package B Work Package C Create WBS

6. • Create Scope Statement • Create WBS • Identify Work Package Scope Planning •Decompose Work Packages •Identify activities •Estimate Activity Resources •Estimate Activity Duration •Develop Schedule Time Planning • Activity Cost Estimation • Determine Budget Cost Planning 6 Designed and Developed by https://www.pmbypm.com | Copyright 2018

7. Time Planning  https://www.slideshare.net/pmalik2/5-steps-of-project-scheduling-process-for- absolute-beginners-86265406  https://www.slideshare.net/pmalik2/how-project-network-diagrams-can-help-you- become-a-better-project-manager  https://www.slideshare.net/pmalik2/4-project-estimation-techniques-that-can- make-you-super-successful  https://www.slideshare.net/pmalik2/successful-project-managers-use-these-5- ways-to-represent-project-schedule 7 Designed and Developed by https://www.pmbypm.com | Copyright 2018 For more details about Time Planning, refer to –

8. Time Planning  STEP 1 – Identify Activities by Decomposing Work Packages  STEP 2 – Develop Schedule After Sequencing and Estimation 8 Designed and Developed by https://www.pmbypm.com | Copyright 2018

9. 9 Designed and Developed by https://www.pmbypm.com | Copyright 2018 Cost Baseline Project ComponentProject Component Contingency Reserves Project Work Package A Work Package B Work Package C Activity 2Activity 1 Activity 3 Activity 4 STEP 1 – Identify Activities

11. • Create Scope Statement • Create WBS • Identify Work Package Scope Planning •Decompose Work Packages •Identify activities •Estimate Activity Resources •Estimate Activity Duration •Develop Schedule Time Planning • Activity Cost Estimation • Determine Budget Cost Planning 11 Designed and Developed by https://www.pmbypm.com | Copyright 2018

12. Activity Cost Estimation  Estimate Activity Costs  Include Resource Cost and Vendor Costs  Include Direct Costs and Indirect Costs  Add Activity Reserves 12 Designed and Developed by https://www.pmbypm.com | Copyright 2018

13. Designed and Developed by https://www.pmbypm.com | Copyright 2018 13 Cost Baseline Project ComponentProject Component Contingency Reserves Project Work Package A Work Package B Work Package C Activity B $750 Activity A $1800 Activity C $900 Activity D $1550 Estimate Activity Costs

14. Determine Budget  STEP 1 – Determine WP Cost by Aggregating Costs of Activities  STEP 2 – Determine Total Project Cost by Aggregating WP Costs  STEP 3 – Estimate Project Contingency Reserves  STEP 4 – Add Contingency Reserves to Project Cost to determine Cost Baseline  STEP 5 – Optimize Project Schedule & Develop Time Phased Project Budget 14 Designed and Developed by https://www.pmbypm.com | Copyright 2018

15. Designed and Developed by https://www.pmbypm.com | Copyright 2018 15 Cost Baseline Project ComponentProject Component Contingency Reserves Project Work Package A $3200 Work Package B $5000 Work Package C $1800 Activity B $750 Activity A $1800 Activity C $900 Activity D $1550 STEP 1 – Aggregate Activities Cost

16. Designed and Developed by https://www.pmbypm.com | Copyright 2018 16 Cost Baseline Project ComponentProject Component Contingency Reserves Project $9000 Work Package A $3200 Work Package B $5000 Work Package C $1800 Activity B $750 Activity A $1800 Activity C $900 Activity D $1550 STEP 2 – Aggregate WP Cost

17. Designed and Developed by https://www.pmbypm.com | Copyright 2018 17 Cost Baseline Project ComponentProject Component Contingency Reserves $1000 Project $9000 Work Package A $3200 Work Package B $5000 Work Package C $1800 Activity B $750 Activity A $1800 Activity C $900 Activity D $1550 STEP 3 - Estimate Contingency Reserves

18. STEP 4 - Cost Baseline = Project Cost + Contingency Reserves Designed and Developed by https://www.pmbypm.com | Copyright 2018 18 Cost Baseline $10000 Project ComponentProject Component Contingency Reserves $1000 Project $9000 Work Package A $3200 Work Package B $5000 Work Package C $1800 Activity B $750 Activity A $1800 Activity C $900 Activity D $1550

A Comprehensive Beginners Guide To Cost Planning

Recommended

Recommended

More Related Content

What's hot

What's hot (18)

Similar to A Comprehensive Beginners Guide To Cost Planning

Similar to A Comprehensive Beginners Guide To Cost Planning (20)

Recently uploaded

Recently uploaded (20)

A Comprehensive Beginners Guide To Cost Planning