TAILIEUCHUNG - Lecture Project management: The managerial process (6/e) - Chapter 5: Estimating project times and costs

The main contents of chapter 5 consist of the following: Factors influencing the quality of estimates; estimating guidelines for times, costs, and resources; top-down versus bottom-up estimating; methods for estimating project times and costs; level of detail; types of costs; refining estimates; creating a database for estimating. | Project Management 6e. 5-1 5–2 Where We Are Now Project Management 6e. 5-2 5–3 Estimating Projects Estimating The process of forecasting or approximating the time and cost of completing project deliverables. The task of balancing expectations of stakeholders and 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 Project Management 6e. 5-3 5–4 Factors Influencing the Quality of Estimates Quality of Estimates Project Duration People Project Structure and Organization Padding Estimates Organization Culture Other (Nonproject) Factors Planning Horizon Project Management 6e. 5-4 5–5 Developing Work Package Estimates Preparing Initial Estimates Use several people to make estimates Assume normal conditions Use consistent time units Assume tasks are independent Make no allowance for contingencies Include a .