10 cost management nuggets

10 cost management nuggets - Project Cost Management Dr....

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Project Cost Management Dr. Hesham A. Aziz 1 Dr. Hesham A. Aziz
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Process Inputs Outputs Resources Planning WBS Historical Information Scope Statement Resources Pool Description Organizational Policies Activity Duration Estimates Expert Judgment Alternatives identification Project Management Software Resources Requirements Cost Estimating WBS Resources Requirements Resources Rates Activity Duration Estimates Estimating Publications Historical Information Chart of Accounts Risks Analogous Estimating Parametric Modeling Bottom – Up Estimating Computerized Tools Other Cost Estimating Methods Cost Estimated Supporting Detail Cost Management Plan Cost Budgeting Cost Estimates WBS Project Schedule Risk Management Plan Budgeting tools /Techniques Cost Baseline Cost Control Cost Baseline Performance Reports Change Requests Cost Management Plan Cost change Control System Performance Measurement EVM Additional Planning Computerized Tools Revised Cost Estimates Budget Updates Corrective Action Estimate at Completion Project Closeout Lessons Learned 2 Dr. Hesham A. Aziz
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Nuggets Discussion Life Cycle Costing (LCC) Resources Planning Cost Estimating Project Chart of Accounts Top-Down Estimating Analogous Estimating Parametric Estimating Concept of considering all expenditures over the entire life of the Project including R & D , acquisition , development , operating , and Decommissioning costs when evaluating various alternatives. Also known as the total cost or called “normalizing “ cost Determining what resources (people , equipment ,materials ) and what Quantities are needed to perform project activities Developing estimates of resource costs Any numbering system based upon corporate chart of accounts used To track and charge projects costs Quickly arriving at a total project cost based on previous experiences Perhaps using the techniques of : Analogous Estimating ,Parametric Estimating, Expert Judgment , Heuristics Used in the very early phases of the project to estimate total project Costs when there
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This note was uploaded on 03/17/2012 for the course CEM 661 taught by Professor Dr.heshama.aziz during the Spring '10 term at American University in Cairo.

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10 cost management nuggets - Project Cost Management Dr....

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