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WBS useful during the estimating of a project budget.

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1 Explain how a work breakdown structure can be useful during the estimating of a project budget.

2 Before PERT diagrams are prepared, the person performing the work should have a clear definition of the requirements and objectives, both prime and support. Is it an absolute necessity? Why?
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3 Is it possible to establish formal organizational procedures (either at the project level or corporate-wide) for the resolution of conflicts? If a procedure is established, what can go wrong?

4 Once a project begins, a good project manager will set up milestones. How should this be accomplished? Will the duration of the project matter? Can milestones be built into a schedule? If so, how can they be identified?

5 Explain how a project monitoring system in your project environment can benefit the overall success of the project.

6 Good project management systems have a memory. The precise organization of the final report is not a matter of great concern. What matters are that several subjects should be addressed in the final report? What must the project manager do in planning, scheduling, monitoring, and closing out the project?

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The work breakdown structure usefulness during the estimating of a project budget is examined.

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1. Work breakdown structure shows the resources and labor needed to complete each part of the job and the requirements of time. This allows more accurate forecasting and budgeting because the necessary elements are already provided. The amount of labor needed and the time each will be working on the project can then be transferred to the budget in terms of wages and benefits. While there can be changes, the estimate will be much more accurate based on the work breakdown.

2. PERTs prepare the project for how the project will be carried out, where the critical elements are found and they provide the critical path. The critical path follows the sequence of the different components of the job and helps determine the length of the project. With clarity of the requirements and objectives, the PERT can accurately detail the time elements and where components are scheduled to be completed for use in the next step of the process. The more the person knows about the project, the more accurately the project can be planned. For example, a component usually takes 3 days to complete. It can be done in 2 days with one other person working on it. The PERT provider can confer with the ...

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