Define the different types of Project Costs:
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- Activity cost = a fixed or variable cost that is set for an activity and not for
a resource.
- Resource cost = a fixed or variable cost for the use of resources when
demanded by the various project activities
- Total activity cost = consists of the sum of all subtype costs.
Identify Scope Creep:
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, Scope creep is uncontrolled changes that cause the team to do extra work.
- Informal request
- No adjustment to scope, cost, or schedule
Create COST Estimates for work packages:
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• To support good decisions.
• To determine the project's cost.
• To determine whether the project is worth doing.
• To develop cash flow needs.
Distinguish between projects and operations:
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A project is any that produces a specific end result and is temporary;
always have a beginning and an end. An Operation is work that is done in a
way that's repeatable and ongoing, but it's not a project.
Project Scope Checklist:
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1. Project objective
2. Deliverables
3. Milestones
4. Technical requirements
, 5. Limits and exclusions
6. Reviews with customer
Analogous Estimating:
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The Analogous Estimates process uses analogies from the earlier similar
projects.
-It is the fastest technique to calculate the estimate; however, less accurate
-It can be used when limited information about the project is available
-It is also known as Top-Down Estimating
Describe the project process groups, with focus on CLOSING:
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• Lessons Learned - Get feedback, wrap-up meeting to share thoughts,
document lessons and share with other project teams
• Final Work - File documents for reference
• Contract Closeout - Pay vendors, End contracts of temporary team
members, Have client sign off on contract/deliverables
The 10 Knowledge Areas with focus on integration management and change
management:
1. Integration
2. Scope
3. Time
4. Cost
Give this one a try later!
- Activity cost = a fixed or variable cost that is set for an activity and not for
a resource.
- Resource cost = a fixed or variable cost for the use of resources when
demanded by the various project activities
- Total activity cost = consists of the sum of all subtype costs.
Identify Scope Creep:
Give this one a try later!
, Scope creep is uncontrolled changes that cause the team to do extra work.
- Informal request
- No adjustment to scope, cost, or schedule
Create COST Estimates for work packages:
Give this one a try later!
• To support good decisions.
• To determine the project's cost.
• To determine whether the project is worth doing.
• To develop cash flow needs.
Distinguish between projects and operations:
Give this one a try later!
A project is any that produces a specific end result and is temporary;
always have a beginning and an end. An Operation is work that is done in a
way that's repeatable and ongoing, but it's not a project.
Project Scope Checklist:
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1. Project objective
2. Deliverables
3. Milestones
4. Technical requirements
, 5. Limits and exclusions
6. Reviews with customer
Analogous Estimating:
Give this one a try later!
The Analogous Estimates process uses analogies from the earlier similar
projects.
-It is the fastest technique to calculate the estimate; however, less accurate
-It can be used when limited information about the project is available
-It is also known as Top-Down Estimating
Describe the project process groups, with focus on CLOSING:
Give this one a try later!
• Lessons Learned - Get feedback, wrap-up meeting to share thoughts,
document lessons and share with other project teams
• Final Work - File documents for reference
• Contract Closeout - Pay vendors, End contracts of temporary team
members, Have client sign off on contract/deliverables
The 10 Knowledge Areas with focus on integration management and change
management:
1. Integration
2. Scope
3. Time
4. Cost
