Provide an assessment of the relative importance of controlling project cost. EVM is the central tool of project management in project cost control. Show the importance of cost control using anecdotes taken either from credible sources.© BrainMass Inc. brainmass.com October 17, 2018, 3:06 am ad1c9bdddf
It is extremely important for any project manager to keep project cost under control for the overall success of the project as actual cost incurred on the project should be as close as possible to the planned cost to ensure that project is completed as per desired scope, schedule and cost. If actual costs exceed the planned budget, it can affect the smooth completion of project as resource constraints can occur due to shortage of finances. The project sponsor will also be unsatisfied due to such cost overruns. The ultimate objective of the project may not be achieved if project is ...
Provide an assessment of the relative importance of controlling project cost. EVM is the central tool of project management in project cost control. Show the importance of cost control using anecdotes taken either from credible sources.
Creating a Gant Chart for an Imaginary Project
See the attached file.
Explain how you would designate a leader for each project and how they should use the various tools below to
ensure all personnel are actively engaged. Create a small Gant chart for an imaginary project
Explain how various tools and techniques help project managers perform activity duration estimating.
Use a Gant chart for planning and tracking schedule information, find the critical path for a project, and describe how critical chain scheduling and the Program Evaluation and Review Technique (PERT) affect schedule development.
Describe how project management software can assist in project time management and review words of caution before using this software.
Explain how you would organize your personnel to accomplish the project management goals. Using the bullets below, explain how you would train your teams to address the following tasks.
Understand the importance of project schedules and good project time management.
Define activities as the basis for developing project schedules.
Describe how project managers use network diagrams and dependencies to assist in activity sequencing.
Explain how you would approach cost estimation and what tools you would use?
Examine how resources, quality, and communication can affect project management.
Understand the importance of project cost management.
Explain basic project cost management principles, concepts, and terms.View Full Posting Details