Discussion
The text provides five specific areas or reasons that cost estimation seems to occur. Describe a project that you have been involved with where at least one of these factors occurred. How would you improve the cost estimation method with the knowledge you have gained in the reading?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.
Required Readings
Read the following chapters in Cost and Value Management in Projects:
• Chapter 3: Cost Estimation
• Chapter 4: Project Budgeting
Read the following journal article from ProQuest:
• Jedd, M. (2006, January). Project rescue. PM Network, 20(1), 64-68. Retrieved from ProQuest Database. The article provides a review of project budgeting, scope management, and helpful details on cost and schedule performance to aid in the discussion boards.