MAN 435 - 4A - MAN-435 Project Management Project...

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MAN-435 Project Management Project Management: Achieving Competitive Advantage, by Jeffrey K. Pinto, (Upper Saddle River, New Jersey: Pearson Prentice-Hall, 2007). ISBN-13: 978-0-558-39543-8 Written Assignment 4 This assignment covers text chapter 8. The question is adapted from Discussion Questions in the text. There is only one assignment question. Why is cost estimation such an important component of project planning? Discuss how it links together with the Work Breakdown Structure and the project schedule. (Objective 4.2) The cost estimation is what the client uses to decide to continue with a project. It determines the funds available for work schedules and assets available. Clearly defining a cost estimate, allows a better opportunity for a successful completion of a project. The better the cost estimate the better the profit margin for the project organization. A key for a detailed cost estimate is to break down the project by work package and deliverable. Estimating the cost of each task similar to a bottom up approach. Common cost estimation methods are:
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MAN 435 - 4A - MAN-435 Project Management Project...

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