MAN 435-CS-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 Case Study 4A: Practice in Budgeting Let's examine the simple project of paving a driveway. Answer the following questions based on what you have read in the text. Questions 1. Relate how the cost estimates might be wrong in light of the problems associated with cost estimation on Pages 260 and 261. Problems with cost estimation related to construction are especially susceptible to errors, due to that nature of cost changes in the field. Common problems related to paving a driveway may include: Low initial estimates— Miscommunication on size and expectations Considering the project in relation to other organizational activities (chain project scheduling) Corporate culture rewards underestimation or underestimation to get the bid Quoting based on a previously available price for supplies and labor, no longer available Unexpected technical difficulties— Underestimation of possible technical problems, i.e. start- up delays, equipment
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MAN 435-CS-4A - MAN-435 Project Management Project...

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