12 Explain two processes that can be used to measure costs against project

12 explain two processes that can be used to measure

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12. Explain two processes that can be used to measure costs against project outcomes. Key performance indicators: can be used to both measure project costs against outcomes. For example, project costs can be assessed regularly throughout the project to check that the project is on track, and the final project outcomes can be assessed on whether the project overall ran to budget. Stakeholder feedback , for example, staff or customers, can be used to measure project outcomes and progress. For example, staff could be surveyed on how they consider the project is going regarding costs or on the outcomes of the project and budget. 9 20 Reasons Your eCommerce Conversion Rate Is So Low. 170 Wellington Street, East Perth 6004, WA, Australia | Phone: (08) 9221 1261 | Fax: (08) 9325 1752 | | [email protected] Current Version: 1 Current Version Date: Feb 2019 Next Review: Feb 2020 PAGE NO: 12 12
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BSBPMG514 Manage project cost Assessment 1 – Knowledge Assessment 13. Outline the key role and at least four responsibilities of a project manager in relation to cost management. No project starts without a budget. Project success is decided by how well the project cost has been handled in the project. Many times it happens that, the project may not be completed within the project cost. It means that when compared the Project Cost Vs. Project Profit, Project Cost might have exceeded, and it is, of course, considered as a project failure. 10 The primary responsibility of the project manager is to set up the project budget precisely from the beginning. During the project initiation, the project manager would be doing the planning estimation or budgetary estimation. Which includes getting the feasibility study done, and the business case is approved. Once these activities are done, the project manager will get an idea of what the project is and what are all the activities would incur the cost. 11 Responsibilities: Monitor and Manage the project budget frequently Create project budget awareness in the team Report and control cost to publish reports Carry out regular inspections to understand what the team does and identify if there are any deviations. 10 Common reasons why IT projects success 1 Delivery Date .... - Delivery-Date-Management-The-dates/ 11 Project Cost: Why is it important for Project Managers .... - for-project-managers 170 Wellington Street, East Perth 6004, WA, Australia | Phone: (08) 9221 1261 | Fax: (08) 9325 1752 | | [email protected] Current Version: 1 Current Version Date: Feb 2019 Next Review: Feb 2020 PAGE NO: 13 13
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