No two or more projects share exactly the same set of variables. They can have similar attributes but can never be identical project character factors.
WHAT IS COST ESTIMATION IN PROJECT MANAGEMENT AND THEIR TYPES?MirzaNuman1
There are different types of Cost estimation in project management. But, Here we have mentioned 4 types of cost estimation in project management that are most commonly used by cost estimators for construction.
Building credible cost and schedule estimates requires discipline, skill, and experience. All 3 can be acquired over time. The starting point is understanding what processes make up the discipline of estimating
WHAT IS COST ESTIMATION IN PROJECT MANAGEMENT AND THEIR TYPES?MirzaNuman1
There are different types of Cost estimation in project management. But, Here we have mentioned 4 types of cost estimation in project management that are most commonly used by cost estimators for construction.
This PowerPoint Presentation discuss basics of Project Formulation. I tried my best to make this presentation easy and attractive as much as possible so that it can easily get edited as per your convenience. I hope it'll be of some use and you found what you are looking for in it. Thank you for your time.
Forecasting cost and schedule performanceGlen Alleman
For credible decisions to be made, we need confidence intervals on all the numbers we use to make decisions.
These confidence intervals come from the underlying statistics and the related probabilities.
Statistical forecasting, using time series analysis of past performance, is mandatory for any credible discussion of project performance in the future.
WHAT IS COST ESTIMATION IN PROJECT MANAGEMENT AND THEIR TYPES?MirzaNuman1
There are different types of Cost estimation in project management. But, Here we have mentioned 4 types of cost estimation in project management that are most commonly used by cost estimators for construction.
Building credible cost and schedule estimates requires discipline, skill, and experience. All 3 can be acquired over time. The starting point is understanding what processes make up the discipline of estimating
WHAT IS COST ESTIMATION IN PROJECT MANAGEMENT AND THEIR TYPES?MirzaNuman1
There are different types of Cost estimation in project management. But, Here we have mentioned 4 types of cost estimation in project management that are most commonly used by cost estimators for construction.
This PowerPoint Presentation discuss basics of Project Formulation. I tried my best to make this presentation easy and attractive as much as possible so that it can easily get edited as per your convenience. I hope it'll be of some use and you found what you are looking for in it. Thank you for your time.
Forecasting cost and schedule performanceGlen Alleman
For credible decisions to be made, we need confidence intervals on all the numbers we use to make decisions.
These confidence intervals come from the underlying statistics and the related probabilities.
Statistical forecasting, using time series analysis of past performance, is mandatory for any credible discussion of project performance in the future.
The Basis of Estimate is the starting point for Closed Loop Control project management.
How much will it cost? When will we be done? What is going to be delivered for that cost and time?
These are random numbers "estimated" by a variety of means.
But the BOEs are the "steering targets" for the closed loop ocntrol system
SOFTWARE COST ESTIMATION USING FUZZY NUMBER AND PARTICLE SWARM OPTIMIZATIONIJCI JOURNAL
Software cost estimation is a process to calculate effort, time and cost of a project, and assist in better
decision making about the feasibility or viability of project. Accurate cost prediction is required to
effectively organize the project development tasks and to make economical and strategic planning, project
management. There are several known and unknown factors affect this process, so cost estimation is a very
difficult process. Software size is a very important factor that impacts the process of cost estimation.
Accuracy of cost estimation is directly proportional to the accuracy of the size estimation.
Failure of Software projects has always been an important area of focus for the Software Industry.
Implementation phase is not the only phase for Software projects to fail, instead planning and estimation
steps are the most crucial ones, which lead to their failure. More than 50% of the total projects fail which
go beyond the estimated time and cost. The Standish group‘s CHAOS reports failure rate of 70% for the
software projects. This paper presents the existing algorithms for software estimation and the relevant
concepts of Fuzzy Theory and PSO. Also explains the proposed algorithm with experimental results.
Project Risk Management - Week 2: Individual Assignment
Overview and Rationale
In order to demonstrate proficiency with the content in this course we will complete a number of different assignments to validate your learning – and allow you to implement relevant practices a real-world setting.
Program Level - Student Learning Outcomes:
Create a risk management plan to determine how both positive and negative risks will be identified, analyzed and managedArticulate the value and benefits of creating an effective approach to planning for project risk managementIdentify project related risks and their drivers by integrating best practices, tools and techniques
Analyze risks using qualitative methods for the purpose of risk exposure and prioritization and communicate their impact to the stakeholdersAnalyze risks using quantitative methods for the purpose of risk exposure and prioritization and communicate their impact to the stakeholdersRecommend risks for risk response planning or watch listDevise a risk response plan based on appropriate techniques and strategies that would meetStakeholders’ expectationsExecute the risk management plan to continuously monitor risks and risk responsesDescribe how organizational and cultural factors may undermine implementation of effective risk management and develop strategies to overcome these factors
Week 2 Learning Objectives
Integrate best practices, tools and techniques to identify project related risks
Perform Stakeholders analysis to identify stakeholders to include in Risk Identification (and how)
Identify Risk identification tools &techniques
Craftqualityriskstatementsthatclarifyriskdrivers,eventsandimpacts
CreateariskregisterthatalignstoRiskManagementPlanandstakeholderneeds
Explain the process of using-Delphi technique, brainstorming, nominal group, affinity diagramming (group creativity) to identify risks
The next step in risk management is identifying the risks that may impact the progress or success of your project. For this assignment, you will begin to populate the risk register and identify the risks that may occur in the project. For this assignment you will complete and submit:
RiskRegisterthatincludesacomprehensivelistofidentifiedrisks.
A minimum (“meets requirements”) of 15 risks should beidentified
Toensuretheriskidentificationincludesthebreadthanddepthnecessaryforsuccess,besuretoincludeatleast2risksfrom:
1 project-level/ businessrisks
2risksperphaseoftheproject(so,iftheprojecthas5phases,thiswouldbetwoperphaseor10risks)
1 project-specific resourcerisks
1 schedule risks (criticalpath)
1 project-specific costrisks
2 implementationrisks
2opportunities
Risk statements must be written in the cause-condition-conclusion format. Additionally, you should identify the risk owner and the trigger event for eachrisk.
For this assignment, do not work to analyze or determine handling actions for the risks – this assignment is to identify the risks only- later weeks will analyze and plan for how to ...
The “Science” versus “Inner World” of Project ManagementGlen Alleman
Project management is concerned with what can be referred to as the “external world.” As project managers we belong to this external world. The discipline of project management is not concerned with our private “inner” thoughts, dreams, and hopes regarding our profession. The science of project management is concerned with the “objective” reality of projects, rather than with the “subjective” experience of that reality.
Establishing schedule margin using monte carlo simulation Glen Alleman
The first order goal is to develop a resource loaded, risk tolerant, Integrated Master Schedule, derived from the Integrated Master Plan that clearly shows the increasing maturity of the program's deliverables, through vertical and horizontal traceability to the program's requirements.
The Basis of Estimate is the starting point for Closed Loop Control project management.
How much will it cost? When will we be done? What is going to be delivered for that cost and time?
These are random numbers "estimated" by a variety of means.
But the BOEs are the "steering targets" for the closed loop ocntrol system
SOFTWARE COST ESTIMATION USING FUZZY NUMBER AND PARTICLE SWARM OPTIMIZATIONIJCI JOURNAL
Software cost estimation is a process to calculate effort, time and cost of a project, and assist in better
decision making about the feasibility or viability of project. Accurate cost prediction is required to
effectively organize the project development tasks and to make economical and strategic planning, project
management. There are several known and unknown factors affect this process, so cost estimation is a very
difficult process. Software size is a very important factor that impacts the process of cost estimation.
Accuracy of cost estimation is directly proportional to the accuracy of the size estimation.
Failure of Software projects has always been an important area of focus for the Software Industry.
Implementation phase is not the only phase for Software projects to fail, instead planning and estimation
steps are the most crucial ones, which lead to their failure. More than 50% of the total projects fail which
go beyond the estimated time and cost. The Standish group‘s CHAOS reports failure rate of 70% for the
software projects. This paper presents the existing algorithms for software estimation and the relevant
concepts of Fuzzy Theory and PSO. Also explains the proposed algorithm with experimental results.
Project Risk Management - Week 2: Individual Assignment
Overview and Rationale
In order to demonstrate proficiency with the content in this course we will complete a number of different assignments to validate your learning – and allow you to implement relevant practices a real-world setting.
Program Level - Student Learning Outcomes:
Create a risk management plan to determine how both positive and negative risks will be identified, analyzed and managedArticulate the value and benefits of creating an effective approach to planning for project risk managementIdentify project related risks and their drivers by integrating best practices, tools and techniques
Analyze risks using qualitative methods for the purpose of risk exposure and prioritization and communicate their impact to the stakeholdersAnalyze risks using quantitative methods for the purpose of risk exposure and prioritization and communicate their impact to the stakeholdersRecommend risks for risk response planning or watch listDevise a risk response plan based on appropriate techniques and strategies that would meetStakeholders’ expectationsExecute the risk management plan to continuously monitor risks and risk responsesDescribe how organizational and cultural factors may undermine implementation of effective risk management and develop strategies to overcome these factors
Week 2 Learning Objectives
Integrate best practices, tools and techniques to identify project related risks
Perform Stakeholders analysis to identify stakeholders to include in Risk Identification (and how)
Identify Risk identification tools &techniques
Craftqualityriskstatementsthatclarifyriskdrivers,eventsandimpacts
CreateariskregisterthatalignstoRiskManagementPlanandstakeholderneeds
Explain the process of using-Delphi technique, brainstorming, nominal group, affinity diagramming (group creativity) to identify risks
The next step in risk management is identifying the risks that may impact the progress or success of your project. For this assignment, you will begin to populate the risk register and identify the risks that may occur in the project. For this assignment you will complete and submit:
RiskRegisterthatincludesacomprehensivelistofidentifiedrisks.
A minimum (“meets requirements”) of 15 risks should beidentified
Toensuretheriskidentificationincludesthebreadthanddepthnecessaryforsuccess,besuretoincludeatleast2risksfrom:
1 project-level/ businessrisks
2risksperphaseoftheproject(so,iftheprojecthas5phases,thiswouldbetwoperphaseor10risks)
1 project-specific resourcerisks
1 schedule risks (criticalpath)
1 project-specific costrisks
2 implementationrisks
2opportunities
Risk statements must be written in the cause-condition-conclusion format. Additionally, you should identify the risk owner and the trigger event for eachrisk.
For this assignment, do not work to analyze or determine handling actions for the risks – this assignment is to identify the risks only- later weeks will analyze and plan for how to ...
The “Science” versus “Inner World” of Project ManagementGlen Alleman
Project management is concerned with what can be referred to as the “external world.” As project managers we belong to this external world. The discipline of project management is not concerned with our private “inner” thoughts, dreams, and hopes regarding our profession. The science of project management is concerned with the “objective” reality of projects, rather than with the “subjective” experience of that reality.
Establishing schedule margin using monte carlo simulation Glen Alleman
The first order goal is to develop a resource loaded, risk tolerant, Integrated Master Schedule, derived from the Integrated Master Plan that clearly shows the increasing maturity of the program's deliverables, through vertical and horizontal traceability to the program's requirements.
In development assistance, most projects are planned, monitored, and evaluated using logic models. It is a rare project that unfolds exactly according to plan but outputs are within direct control. Because of this, it is helpful to deepen and extend logical frameworks to bolster output accomplishment and improvement of activities.
What is a business case and why on earth is it so integral to the world of project management? It is the
foundations with which our project is built and as the complexities and costs increase, so does the importance of
the business case.
Here, lead PRINCE2 trainer Richard Lampitt discusses in further detail the fundamental importance of the business case in Project Management
FUNDAMENTALS OF software developement and a detail outcome of the software based on the project management and the various metrics and measurements development in software engineering
- Cost is one of 3 Triple constraints of the project. Managing costs of the project is very crucial and hardest part of the project. It spans across all phases of the project right from conception to closure of the project.
- Cost Management is not just controlling “Costs”; it involves definitive planning and preparing budgets. Collecting cost associated data. Comparing the data to prepared budgets and taking appropriate actions when needed.
- The process involved in estimating, budgeting, and controlling cost so that the project can be completed within approved budget.
- Value analysis (value engineering)
• Looking at less costly way to do the same work within the same scope
IS EARNED VALUE + AGILE A MATCH MADE IN HEAVEN?
Increasing the Probability of Program Success requires by connecting the dots between EV and Agile Development.
Presented at
The Nexus of Agile Software Development and
Earned Value Management, OSD-PARCA,
February 19 – 20, 2015
Institute for Defense Analysis, Alexandria, VA