GNB INFO 461 Ch07

GNB INFO 461 Ch07 - 1 The Project Schedule and Budget...

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1 The Project Schedule and Budget Chapter 7
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2 Learning Objectives Describe the Project Management Body of Knowledge (PMBOK ® ) area called project cost management. Develop a Gantt chart. Develop a project network diagram using the activity on the node (AON) technique. Identify a project’s critical path and explain why it must be controlled and managed. Develop a PERT diagram. Describe the concept of precedence diagramming and identify finish-to-start, start-to-start, finish-to-finish, and start-to-finish activity relationships Describe the concept of critical chain project management (CCPM) Describe the various costs that make up the project’s budget. Define what is meant by the baseline project plan.
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3 PMBOK ® Project Cost Management Cost estimating Based upon the activities, their time estimates, and resource requirements, an estimate can be developed. Cost budgeting Once the time and cost of each activity is estimated, an overall cost estimate for the entire project can be made. Once approved, this estimate becomes the project budget. Cost control Ensuring that proper processes and procedures are in place to control changes to the project budget.
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4 The Project Planning Framework
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5 Budget and Schedule Development The project’s schedule can be determined based upon the tasks and time estimates in the WBS The schedule will also depend on how these activities are sequenced The project’s budget can be determined based upon the activities and time estimates from the WBS as well as the cost of the resources assigned to the WBS tasks Iterations may still be necessary The objective is to create a realistic project schedule and budget!
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6 Developing the Project Schedule Project Management Tools Gantt Charts Project Network Diagrams Activity on the Node (AON) Critical Path Analysis Program Evaluation and Review Technique (PERT) Precedence Diagramming Method (PDM)
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7 Gantt Chart for Planning
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8 Gantt Chart Reporting Project’s Progress
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Activity Analysis for AON Activity Description Estimated Duration (Days) Predecessor A Evaluate current technology platform 2 None B Define user requirements 5 A C Design Web page layouts 4 B D Set-up Server 3 B E Estimate Web traffic 1 B F Test Web pages and links 4 C,D G Move web pages to production environment
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This note was uploaded on 10/31/2010 for the course BUSINESS S INFO taught by Professor Xx during the Spring '10 term at VCU.

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GNB INFO 461 Ch07 - 1 The Project Schedule and Budget...

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