Discuss the basic cost terms in project management


Assignment:

Developing the Project Scope Statement

You are a project manager for XYZ's garment company. You're heading up a project to promote a new line of souvenirs to be sold at the shows. You're getting ready to write the project management plan. What steps need to be taken in order to write the project management plan? Suggestions and recommendations required.

Creating the Project Schedule

Give your opinion on which graphical representation of a project schedule (e.g., Gantt or PERT) is ideal for presenting the project schedule to a company executive with no project management background, and also discuss the need of shortening project schedules. Based on what you've been experiencing in class so far, support your decision based on your comfort with each.

Estimating Costs

Suppose you were asked to prepare a cost estimate for a project to purchase laptops for all faculty and staff at your college or university.

Q: How would you start? How long would it take you to prepare a good estimate? What type of estimate would you prepare, and what approach would you use to develop a cost estimate? Why do you think it's necessary to understand some of the basic cost terms in project management?

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Project Management: Discuss the basic cost terms in project management
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