Week Dqs
Why are accurate estimates critical to effective project management? What steps can project managers take to improve the accuracy of estimating projects?
Accurate estimates are critical to effective project management because having accurate time and costs estimates helps ensure the project is a success. Project control is dependent on accuracy of estimates, time and cost, estimates are major inputs to project planning. Estimates are used to support good decisions to determine project duration and cost. Used to develop time phased budgets and estimating helps reduce error. Project managers can take steps to improve the accuracy of estimating projects by using techniques to scope, constrain and plan the projects conditions, this will help reduce risks, and increase the project’s success.
What argument can you provide as to why a project's scope must be tied to the WBS? What are the implications are if scope is not adhered to closely?
A projects scope must be tied to the work breakdown structure or (WBS) because the WBS documents lists task deliverable and identifies all the activities needed to accomplish the final project deliverables. It is utilized to identify the phases of activities, break activities into smaller tasks, estimate the duration of tasks, sequence the tasks, identify needed resource for each task and estimates the resource costs. It forms the basis for other management processes like time, scheduling, cost control and risk management. If the projects scope is not adhered closely then activities may not be defined properly to the projects team, not having a clear understanding of the project leads to confusion on what needs to be done, this will cost the company time and
Accurate estimates are critical to effective project management because having accurate time and costs estimates helps ensure the project is a success. Project control is dependent on accuracy of estimates, time and cost, estimates are major inputs to project planning. Estimates are used to support good decisions to determine project duration and cost. Used to develop time phased budgets and estimating helps reduce error. Project managers can take steps to improve the accuracy of estimating projects by using techniques to scope, constrain and plan the projects conditions, this will help reduce risks, and increase the project’s success.
What argument can you provide as to why a project's scope must be tied to the WBS? What are the implications are if scope is not adhered to closely?
A projects scope must be tied to the work breakdown structure or (WBS) because the WBS documents lists task deliverable and identifies all the activities needed to accomplish the final project deliverables. It is utilized to identify the phases of activities, break activities into smaller tasks, estimate the duration of tasks, sequence the tasks, identify needed resource for each task and estimates the resource costs. It forms the basis for other management processes like time, scheduling, cost control and risk management. If the projects scope is not adhered closely then activities may not be defined properly to the projects team, not having a clear understanding of the project leads to confusion on what needs to be done, this will cost the company time and