PMBOK defines an estimates as a quantitative assessment of the likely amount or outcome. Precise estimating in today’s business environment is crucial to the success of any project. A well compiled estimate sets the groundwork for successful project planning, and management of time, cost, and resources.
Project Mangement - overview of the Schedule Management knowledge area within project management. Describes the 6 processes within schedule management and the process groups impacted.
Blog: https://agile-mercurial.com
YouTube: https://www.youtube.com/channel/UCPM82of2YuqIR1SgLGHa1eg
Twitter: https://twitter.com/agile_mercurial
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A brief introduction of Project Time Management, covering the main concepts like Activities, Project Schedule, Activity dependencies, Critical Path, Lead and Lags etc.
Project Mangement - overview of the Schedule Management knowledge area within project management. Describes the 6 processes within schedule management and the process groups impacted.
Blog: https://agile-mercurial.com
YouTube: https://www.youtube.com/channel/UCPM82of2YuqIR1SgLGHa1eg
Twitter: https://twitter.com/agile_mercurial
Tumblr: https://agilemercurial.tumblr.com/
A brief introduction of Project Time Management, covering the main concepts like Activities, Project Schedule, Activity dependencies, Critical Path, Lead and Lags etc.
Project management is about acquiring or achieving the project goal and Most projects need to be broken down into a logical sequence of ‘phases’, known as the project life cycle.
The concepts and processes on how to perform project cost management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan cost management, estimate costs, determine budget, and control cost.
Project Integration Management includes the processes and activities needed to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.
The concepts and processes on how to perform project quality management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan quality management, manage quality, and control quality.
In this chapter, you will learn how to:
✔ Use the Backstage view to open and save Project files.
✔ Work with commands on different tabs of the ribbon interface, the major visual
change introduced in Project 2010.
✔ Use different views to see Project information presented in different ways.
The slides provides an overview on the planning phase of the project plan development. It also provides an introduction on the contents and forms of a project work plan
DIY Haunted House Project - University of Houston-DowntownCrystal Guliford
Rationale for project, including benefits to the University:
Rationale: Fundraising is of vital importance to SVO as it enables us to offer UHD student military veterans better opportunities to provide resources, positive college experiences, support, and advocacy needed to succeed in higher education and following graduation.
Benefit to the University: Today's veterans face numerous obstacles in their path of attaining a college degree. These challenges range from a missing sense of camaraderie to feeling like an outsider amongst 18 year old traditional students to a lack of understanding by university faculty. When coupled with the visible and invisible wounds of war, a college degree can be an elusive goal for men and women returning from military service. Student Veterans Organization makes that goal a reality.
SVA is a 501(c)(3) coalition of student veterans groups on college campuses across the globe. These member chapters are the "boots on the ground” that help veterans reintegrate into campus life and succeed academically. Each chapter must be an officially recognized student group by their university or college and provide a peer-to-peer network for veterans who are attending the school. Additionally, chapters often coordinate campus activities, provide pre-professional networking, and generally provide a touchstone for student veterans in higher education. Student Veterans of America is a registered 501(c)(3) tax-exempt organization.
Project management is about acquiring or achieving the project goal and Most projects need to be broken down into a logical sequence of ‘phases’, known as the project life cycle.
The concepts and processes on how to perform project cost management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan cost management, estimate costs, determine budget, and control cost.
Project Integration Management includes the processes and activities needed to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.
The concepts and processes on how to perform project quality management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan quality management, manage quality, and control quality.
In this chapter, you will learn how to:
✔ Use the Backstage view to open and save Project files.
✔ Work with commands on different tabs of the ribbon interface, the major visual
change introduced in Project 2010.
✔ Use different views to see Project information presented in different ways.
The slides provides an overview on the planning phase of the project plan development. It also provides an introduction on the contents and forms of a project work plan
DIY Haunted House Project - University of Houston-DowntownCrystal Guliford
Rationale for project, including benefits to the University:
Rationale: Fundraising is of vital importance to SVO as it enables us to offer UHD student military veterans better opportunities to provide resources, positive college experiences, support, and advocacy needed to succeed in higher education and following graduation.
Benefit to the University: Today's veterans face numerous obstacles in their path of attaining a college degree. These challenges range from a missing sense of camaraderie to feeling like an outsider amongst 18 year old traditional students to a lack of understanding by university faculty. When coupled with the visible and invisible wounds of war, a college degree can be an elusive goal for men and women returning from military service. Student Veterans Organization makes that goal a reality.
SVA is a 501(c)(3) coalition of student veterans groups on college campuses across the globe. These member chapters are the "boots on the ground” that help veterans reintegrate into campus life and succeed academically. Each chapter must be an officially recognized student group by their university or college and provide a peer-to-peer network for veterans who are attending the school. Additionally, chapters often coordinate campus activities, provide pre-professional networking, and generally provide a touchstone for student veterans in higher education. Student Veterans of America is a registered 501(c)(3) tax-exempt organization.
Veterans in Higher Education: Business Process ImprovementCrystal Guliford
This presentation gives a preview of how to use the DMAIC six sigma method to reduce the delay in the processing of VA Educational Certifications and account reconciliation for tuition and fee over-payments.
Officially the Servicemen's Readjustment Act of 1944, the G.I. Bill was created to help veterans of World War II. It established hospitals, made low-interest mortgages available and granted stipends covering tuition and expenses for veterans attending college or trade schools.
Functions of Veteran Affairs Offices in Higher Education Institutions: Review, and certify VA Educational Benefits for military affiliated students;Ensure compliance with regulations and policies; Develop programs and outreach
Issues faced by colleges and universities: Tracking compliance
Manual data entry; Timeline adherence
Military Formal Event Project Planning Status MeetingCrystal Guliford
"Event professionals and industry associations have acknowledged it for many years. Project Management (PM) tools and methodologies are an asset to Event Management. Why? Well, managing an event is essentially managing a project. Events have a defined beginning and end, and they are unique in terms of teams involved, and changing environments." http://www.eventmanagerblog.com/Project-Management-For-Event-Planners#pIjT8rOlZxOpoyWj.99
PMP Training, Full course for only $25 . Earn PDU , Get ready for exam with a full course with more than 850 PMP Exam questions , and practice tests. For more information and registration visit http://www.pmvision.ca/shop/pmp-online-course/
EMV is a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them. EMV (Europay, MasterCard and Visa) cards are smart cards (also called chip cards or IC cards) which store their data on integrated circuits rather than magnetic stripes, although many EMV cards also have stripes for backward compatibility.
Containerized Housing Unit, usually abbreviated as CHU (and sometimes called Containerized Living Unit or CLU) is the name given to an ISO shipping container pre-fabricated into a living quarters.[1] Such containers can be transported by container ships, railroad cars, planes, and trucks that are capable of transporting intermodal freight transport cargo.
For the project management from available different estimation methods which one you should select and why. This will help you compare estimation methods like exerpt judgement, one point estimation, three point estimation, cocomo, top down estimation, bottom up estimation, etc. to identify time, efforts and cost with examples.
This is a template/ format used to define the attributes data of an Activity in Project Management.
The format is used for activity collections like processors, successors, activity durations, resources etc.
This is from Applica Consultancy.
Dhawal Thakkar
www.ProjectSupportTools.com
Resource scheduling & capacity planning for project online webinar 25 oct18Mike Otranto
Resource management in an organization can be a challenge for any number of reasons. What if you had a more formal request and approval process that enabled greater visibility for resource managers into the allocation and capacity of their resources? Now you do – Resource Scheduling in Project Online.
Resource Scheduling provides functionality for both resource managers and project managers to enhance communication of resource assignments. Project managers request the needed resource and resource managers analyze and respond to the requests based on real information about other commitments the resource has already been committed to.
This webinar will show both the resource manager and project manager perspective in working with Resource Scheduling in Project Online. Join us and find out how you can get better control and visibility over your allocation and capacity using the new OnePlan for Resource Scheduling
Benefits of Microsoft Enterprise Project Managment Server (EPM) for any Organisation
Demand Management
Resource Management
Schedule Management
Capacity Management
Workflow Management
Security Management
Online PMP Training Material for PMP Exam - Cost Management Knowledge AreaGlobalSkillup
Cost Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
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
3rd Forum on Construction Project Management Theory VS Practice (Project Cost) :-
1. PMBOK - Project Management Knowledge Areas and Process Group
2. Project Life-cycle
3. Project Cost
4. Project Appraisals
5. Financial Analysis
6. Total Cost of Ownership (TCO)
This report covers:
- Veterans Services Office Organizational Structure
- Veteran Enrollment Growth
- Veteran Certification Process Snapshot
- Veteran Reports
- Data Tracking & Administrative Challenges
- Banner Student Information System Data
- Future Report Development for accurate data capture
Safety and Occupational Health Performance ProgramCrystal Guliford
Safety Standard Operating Procedure (SOP) researched,compiled,written and edited by CPT Crystal Guliford 2013 for military petroleum operations organization.
Section 1a d lessons learned_guliford as of 21_apr15Crystal Guliford
Hypothetical Risk Management Plan for a fictitious cleaning company: "The purpose of this risk management plan is to allow Coco Maids® to identify and record potential risks. The
plan also outlines mitigation strategies to be developed and tracked. The document should be updated quarterly, or whenever is necessary, e.g. following an incident of significant impact on Coco Maid’s® day to day operations."
The total Army marksmanship training strategy is the overall concept for integrating resources into a program
designed to train, sustain, and improve the individual and collective skills needed to achieve proficiency in
individual and collective gunnery tasks.The overall training strategy is multifaceted and includes supporting strategies
that use resources such as publications; ranges; ammunition; and training aids, devices, simulators, and
simulations (TADSS). These strategies focus on developing the Soldier and leader skills required for success in
combat.
FM 3-22.9 RIFLE MARKSMANSHIP M16-/M4-SERIES WEAPONS
Military Archives & Preservation: 15th Brigade Support Battalion Crystal Guliford
Status update on photographic preservation tasking:
The mission of the 15th Brigade Support Battalion, "Gamblers," is to, on order, deploy to any theater of operations, execute logistical operations in support of 2nd Brigade Combat Team, 1st Cavalry Division, redeploy, reconstitute and prepare for future operations. The 15th Support Battalion had a long heritage of providing logistic support to the Army. For more than 75 years, the Battalion had deployed around the world to participate in numerous campaigns. The 1st Cavalry Division ("First Team"[1]) is a combined arms division and is one of the most decorated combat divisions of the United States Army, as well as the other four branches of the U.S. military.[2][not in citation given] It is based at Fort Hood, Texas.
Research & Reference Tool:
Minstrel Show: A popular stage entertainment featuring comic dialogue, song, and dance in highly conventionalized patterns, performed by a troupe of actors, traditionally comprising two end men and a chorus in blackface and an interlocutor: developed in the U.S. in the early and mid-19th century.
Assess your organization’s PMIS and determine the uses of the PMIS system to make certain that the PMIS will meet the information needs of the project manager and stakeholders.
Saudi Arabia stands as a titan in the global energy landscape, renowned for its abundant oil and gas resources. It's the largest exporter of petroleum and holds some of the world's most significant reserves. Let's delve into the top 10 oil and gas projects shaping Saudi Arabia's energy future in 2024.
Student information management system project report ii.pdfKamal Acharya
Our project explains about the student management. This project mainly explains the various actions related to student details. This project shows some ease in adding, editing and deleting the student details. It also provides a less time consuming process for viewing, adding, editing and deleting the marks of the students.
Water scarcity is the lack of fresh water resources to meet the standard water demand. There are two type of water scarcity. One is physical. The other is economic water scarcity.
Event Management System Vb Net Project Report.pdfKamal Acharya
In present era, the scopes of information technology growing with a very fast .We do not see any are untouched from this industry. The scope of information technology has become wider includes: Business and industry. Household Business, Communication, Education, Entertainment, Science, Medicine, Engineering, Distance Learning, Weather Forecasting. Carrier Searching and so on.
My project named “Event Management System” is software that store and maintained all events coordinated in college. It also helpful to print related reports. My project will help to record the events coordinated by faculties with their Name, Event subject, date & details in an efficient & effective ways.
In my system we have to make a system by which a user can record all events coordinated by a particular faculty. In our proposed system some more featured are added which differs it from the existing system such as security.
TECHNICAL TRAINING MANUAL GENERAL FAMILIARIZATION COURSEDuvanRamosGarzon1
AIRCRAFT GENERAL
The Single Aisle is the most advanced family aircraft in service today, with fly-by-wire flight controls.
The A318, A319, A320 and A321 are twin-engine subsonic medium range aircraft.
The family offers a choice of engines
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.
Overview of the fundamental roles in Hydropower generation and the components involved in wider Electrical Engineering.
This paper presents the design and construction of hydroelectric dams from the hydrologist’s survey of the valley before construction, all aspects and involved disciplines, fluid dynamics, structural engineering, generation and mains frequency regulation to the very transmission of power through the network in the United Kingdom.
Author: Robbie Edward Sayers
Collaborators and co editors: Charlie Sims and Connor Healey.
(C) 2024 Robbie E. Sayers
Welcome to WIPAC Monthly the magazine brought to you by the LinkedIn Group Water Industry Process Automation & Control.
In this month's edition, along with this month's industry news to celebrate the 13 years since the group was created we have articles including
A case study of the used of Advanced Process Control at the Wastewater Treatment works at Lleida in Spain
A look back on an article on smart wastewater networks in order to see how the industry has measured up in the interim around the adoption of Digital Transformation in the Water Industry.
Courier management system project report.pdfKamal Acharya
It is now-a-days very important for the people to send or receive articles like imported furniture, electronic items, gifts, business goods and the like. People depend vastly on different transport systems which mostly use the manual way of receiving and delivering the articles. There is no way to track the articles till they are received and there is no way to let the customer know what happened in transit, once he booked some articles. In such a situation, we need a system which completely computerizes the cargo activities including time to time tracking of the articles sent. This need is fulfilled by Courier Management System software which is online software for the cargo management people that enables them to receive the goods from a source and send them to a required destination and track their status from time to time.
Cosmetic shop management system project report.pdfKamal Acharya
Buying new cosmetic products is difficult. It can even be scary for those who have sensitive skin and are prone to skin trouble. The information needed to alleviate this problem is on the back of each product, but it's thought to interpret those ingredient lists unless you have a background in chemistry.
Instead of buying and hoping for the best, we can use data science to help us predict which products may be good fits for us. It includes various function programs to do the above mentioned tasks.
Data file handling has been effectively used in the program.
The automated cosmetic shop management system should deal with the automation of general workflow and administration process of the shop. The main processes of the system focus on customer's request where the system is able to search the most appropriate products and deliver it to the customers. It should help the employees to quickly identify the list of cosmetic product that have reached the minimum quantity and also keep a track of expired date for each cosmetic product. It should help the employees to find the rack number in which the product is placed.It is also Faster and more efficient way.
2. What is an Estimate?
– PMBOK Definition of estimate
• An estimate is defined as a quantitative assessment
of the likely amount or outcome.
– Importance of precision in estimating
• Precise estimating in today’s business environment
is crucial to the success of any project. A well
compiled estimate sets the groundwork for
successful project planning, and management of
time, cost, and resources.
Getting Started
3. Project Management Body Of
Knowledge (PMBOK)
Project Time Management KA
Project Time
management
Estimate Activity
Resources
Process
Estimate Activity
Durations
Process
4. Process Overview
• Requirements for process or project presented
• High level estimate (rough order of magnitude)
compiled
• Various estimating techniques are reviewed
and best fitting is selected
• Estimate is performed
• Estimate is reviewed
• Estimate is presented
Getting Started
5. The Estimating Process
Getting Started
Build a WBS
Detailed task
list
Generate
Statement of
Work
Including
Assumptions
Identify
System
Requirements
With Client
Assign
Project
Manager
Responsible
for estimating
& execution
Identify
Opportunity
Review with
Client
Write Proposal
Identify Risks &
Calculate
Contingencies
Conduct Group
Estimating
Session
11. Bottom-Up Estimating
Break down activities into
smaller units of work
Estimate the resources for
each section of work
Combine the estimates
into a total amount.
New Drug
Project
Management
Planning
Procurement
Administration
Research
Phase
Lab work
Clinical Trials
Market
Research
Design Phase
Package Insert
Marketing
Strategy
Production
Line
Production
Phase
Roll Out Phase
16 people
10 Consumers
17 people
5 people
12. Vendor Bid Analysis
When using a vendor, the cost of
their services can be determined by
an RFP (request for proposal). The
RFP is sent to a list of approved
vendors.
14. Three Point Estimating
Weighted Average Formula
Final Estimated Duration = (Pessimistic Estimate) + (4 X Realistic Estimate) + (Optimistic Estimate)
6
Standard Deviation Formula
Standard Deviation = Pessimistic Estimate – Optimistic Estimate
6
Getting Started
21. Estimating Cost to Initiate Projects
Estimates are usually needed to
raise funds, agreement of contracts
with vendors, resources requested
and a timeline for the project
picked.
22. Establishing a Budget and
Budgeting the Timeline
A project needs to be broken down into
activities. Then the overall project costs
can be calculated by estimating the
individual activity costs.
This process of totaling costs by activities
is called cost aggregation.
Script: This Project in Motion lesson covers the Project Estimating Process
(6 seconds)
Anton
Script: PMBOK defines an estimates as a quantitative assessment of the likely amount or outcome. Precise estimating in today’s business environment is crucial to the success of any project. A well compiled estimate sets the groundwork for successful project planning, and management of time, cost, and resources.
(17 seconds)
Ashley
Script: The process of generating activity resource estimates is a part of the Project Time Management Knowledge Area.
Under the umbrella of “Project Time Management” topics include the estimate activity resource process and the estimate activity durations process.
Using poor resource and duration estimates may cause project failure. You could run out of resources or schedule them inaccurately, costing both time and money to the company.
(23 seconds)
Crystal
During the process of performing and estimate, first the requirements for the process or project are presented by the client or sponsor. A high level estimate known as the rough order of magnitude is compiled base on limited available data. Various estimating techniques are reviewed and best fitting is/are selected. The estimate is then performed, during which resource requirements and availability are identified and durations are assigned. Finally the financial burden is calculated based on resources, durations, and other constraints. Following, the estimate is reviewed and presented to the sponsor.
(25 seconds)
Ashley
Script: In the estimating process, project managers must:
Understand all requirements of the project
Estimate work effort for each task
Estimate resources requirement for each activity
Estimate durations of each activity (100% resource loaded)
Estimate cost based on required resources (100% resource loaded)
Identify dependencies (internal and external)
Preform 1st pass scheduling utilizing logic based on dependencies
Identify available resources
Revise cost and durations based on resource availability
(24 seconds)
Crystal
Script: Established estimating best practices when utilized can add value and validity to an estimate. 1) Set expectations regarding estimates based on the information available. As more information becomes available estimates become more accurate and the expectations for the estimate should be reevaluated. 2) For increased accuracy use multiple estimating techniques and different sources for each estimate. 3) Maintain complete historical records of previous projects, this allows an estimator to access and analyze the historical data providing for a more accurate estimate. 4) Perform a sanity check on your own estimates and request a peer review. 5) Ensure that all requirements are understood and that all assumptions made are logical and well documented.
(36 seconds)
Anton
Script: Many techniques have been coined for the performance of project estimates the following portion covers those techniques accepted as standard.
(10 seconds)
Ashley
Script: Estimates are affected by various variables such as labor rates, material costs, inflation, risk factors and other variables. Expert judgment is affected by historical information. It provides valuable information of previous similar projects. Expert judgment, in conjunction with objective estimation techniques, provides valuable information about the organizational environment and information from prior comparable projects.
(20 seconds)
Crystal
Script: Analogous estimating is when you use the costs of a past project to forecast the costs of a current project. It's most reliable when the projects you compare are very similar.
Analogous estimating uses expert judgment to adjust past costs according to the scope, duration, and budget of the current project. The analogous estimating technique is most effective when used in conjunction with other estimating techniques. It is useful whether you're estimating costs for the total project or for a particular phase or part of the required work.
(25 seconds)
Crystal
Script: Through the use of historical information along with statistical data, Parametric Estimating technique utilizes variables from similar projects and current trends and applies them to the current project’s requirements producing an estimate. A parametric estimate must be based on actual project data to have validity. The extent of the information available as well as the sophistication of the data analysis determines the effectiveness of the estimate.
(20 seconds)
Anton
Script: Bottom up estimating is when you break a project into its component pieces of work and then estimate the resources needed for each of the pieces. When this has been done for all of the pieces, you add up all the estimates and get a total.
There are three steps of bottom-up estimating.
Decompose activities into smaller work units
Estimate resources for each piece of work
Aggregate all estimates into a total quantity
(22 seconds)
Crystal
Script: Vendor bid analysis is performed to evaluate the information provided by a vendor as the basis of the estimate. Generally a RFP or request for proposal is used to describe the service or product requirements for the specific scope of the vendor or subcontractor. Vendors responding to the RFP provide bids which are evaluated for use in the overall estimate.
(17 seconds)
Ashley
Script: Reserve analysis is performed to cover uncertainties. This reserve is more than the planned budget and allows for unexpected costs. Things do not always go as planned and this is where reserves can save a project. The Contingency reserve is used to manage identified risks or “known-unknown”. It is an estimated reserve based on various risk management techniques, such as EMV or Expected Monetary Value. Controlled by the project manager, contingency reserve is used whenever any identified risk occurs. The Managerial reserve is used to manage the unidentified risks or “unknown-unknown”. Management reserve is not an estimated reserve but rather a random figure defined according to the organization’s policy.
(35 seconds)
Ashley
Script: The Three Point Estimate, also known as PERT utilizes the weighted average of multiple estimates of varying probability to produces a single realistic result. Additionally, Standard Deviation is applied to the Three Point Estimate method to extrapolate the confidence with which an estimate can be used. A lower Standard Deviation equates to higher confidence in the accuracy of the estimate.
(17 seconds)
Anton
Script: All projects require resources, such as people, equipment, money, raw materials, and office facilities, which are used to complete project tasks. Because resources are critical to the success of a project, it's important that they are properly planned, assigned, and managed throughout the duration of the project. Resource is defined as the total means available to a company for increasing production, service or profit.
(18 seconds)
Crystal
Script: In order to estimate the resources needed for project activities, you use inputs from several different sources:
Scope baselines cover the work required to meet the project objectives. The project schedule provides milestone dates. The HR plan can give information on pay rates, and you must also include your own project management costs. Understanding risks helps in estimating, as well as templates and history from organizational process assets. Lastly, as a project manager you must know the marketplace conditions.
(23 seconds)
Crystal
Script: The major output of estimating is resource allocation to a work unit, which in turn generates a duration.
There are three outputs from the estimate activity resources process: Activity resource requirements are normal documents that describe the number of resources for each schedule activity, and the knowledge, skills and experience of each. Resource breakdown structures describe the resources by category and type. Lastly, resource estimating wraps up with documenting updating.
(21 seconds)
Crystal
A common mistake that new project managers make is assuming that an estimate of the duration of each task must be made, without first estimating the required work effort and resources. As discussed in previous slides work effort and resource requirements must first be identified. The Estimate Activity Duration process within PMBOK requires one to analyze each activity and estimate how long it will take to complete, this ultimately depends on the amount of work required within the activity, the resources required to perform the work, and the availability of those resources.
(32 seconds)
Anton
Utilizing the estimating techniques discussed the following seven *factors* are analyzed in the estimate activity durations process: The Activity List which is the main input, identifies and includes every activity to be estimated. The Activity Attributes accompany the activity list these are additional information about each of the activities. The Activity Resource Requirements, is a main output from the Activity Resource Process and elaborates fully on the resource. The Resource Calendar explains resource constraints such as availability for human resources. The Project Scope Statement created and defined within the Scope Definition Process, includes any constraints and assumptions predicted to have an effect on the estimate. The Organizational Process Assets are historical information for previous similar projects. And Enterprise Environmental Factors.
(40 seconds)
Anton
This process produces as it’s main output the Estimate Activity Durations. And as an ancillary output, Project Document Updates are performed at this time, it is still very important that all project documents be reviewed and updated resultant from assumptions made and constraints discovered during the estimating process.
(15 seconds)
Anton
Script: Estimates are usually needed to raise funds, agreement of contracts with vendors, resources requested and a timeline for the project picked. Estimates are important to predict cost of resources and duration of the project.
(17 seconds)
Ashley
Script: A project needs to be broken down into activities. Then the overall project costs can be calculated by estimating the individual activity costs. This process of totaling costs by activities is called cost aggregation. It is important to budget the timeline. Each project or activity has a start and end date. Money should be transferred at the correct time. If money is transferred too early it cannot be used in other aspects of the project. If money is transferred too late, then payment is late for that activity and it may not start on time.
(27 seconds)
Ashley
Script: Remember that costs cannot be estimated until we understand the schedule and dependencies contained within the network diagram. The type and quantity of resources, both human and non-human and when they are needed will have an impact on costs and time and hence on estimating. When performing estimating remember to include costs for the management of the project as well as those needed to create the project specialist deliverables.
(20 seconds)
Anton