Cost Benefits Analysis.
Not what you're looking for?
When performing a Cost Benefits Analysis (CBA) CBA, how do you validate assumptions and apply reasonable costs?
When a project manager formulates the project budget, should management reserves or contingencies be considered? What is the difference between the two and when should either be applied.
How do you ensure that the requirements are fully developed and vetted by project SMEs so that the risk of a scope increase is low?
Purchase this Solution
Solution Summary
Discussion on performing a Cost Benefits Analysis and considering assumptions, reasons, their validation, and application.
Solution Preview
When performing a Cost Benefits Analysis (CBA) CBA, how do you validate assumptions and apply reasonable costs?
Document, document, document! The most essential step in validating assumptions is to document them first. Just assuming them without any documentation will make it very difficult to track the assumptions during the course of the project, let alone estimate their cost. It is important to identify all possible assumptions and assign each assumption to its right stakeholder with a backup or contingency plan in case of failure or diversion. The key assumptions include resource availability, product availability, vendor service availability, actual start dates, actual end dates, fund availability, etc. (this is not an exhaustive list). Each of these needs to be validated with an agreement with the concerned ...
Purchase this Solution
Free BrainMass Quizzes
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce