Cost Management Terms. Part – 8: Project Cost Management Earned Value: The value the spent money brought to the project. Just like double entry accounting system: for every debit to an account there is a corresponding credit. Budgeted at Completion (BAC): How much was originally planned for this project. Planned Value (PV): Calculates how much …
Category: Professional
May 20
Project Cost Management. Part – 1: Overview, Components, Value Engineering #PMP – Project Management
Project Cost Management. Part – 1: Overview, Components, Value Engineering Some Concepts in Project Cost Management Costing Involves: 1. cost to purchase, develop i.e. to have the system 2. Operation cost 3. Cost to disposal Value Engineering: Get the most from a project –decrease cost –increase value –increase quality –shorten schedule –keep project scope not …
May 20
Cost Estimation in Short. Part – 2: Project Cost Management #PMP – Project Management
Cost Estimating in Short. Part – 2: Project Cost Management Cost Estimation in Short When cost estimation is done? After project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle Tools Analogous Estimating Based on the similar actual projects Bottom up estimating: Estimate cost …
May 20
Cost Estimation in Details. Part – 3: Project Cost Management #PMP – Project Management
Cost Estimation in Details. Part – 3: Project Cost Management (Details will be added at a later time, now in short) Cost Estimation in Short When cost estimation is done? After project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle Tools Analogous Estimating …
May 20
Cost Budgeting in Short. Part – 4: Project Cost Management #PMP – Project Management
Cost Budgeting in Short. Part – 4: Project Cost Management Maps costs and dates. How much will be spent on what and when. Also termed Cost Baseline When cost budgeting is done? After activities are defined and scheduled. Activity durations and resource requirements are also estimated. Tools Cost Aggregation Activity level costs should be aggregated …
May 20
Histogram: Part – 3: Quality Control #PMP – Project Management
Histogram: Pareto chart: Histogram-shows defects ranked from greatest to least. Pareto law: 80% problems come from 20% problems. Pareto chart is used to find the root causes of the problems. Run Chart: Displays quality over time. Example: Time/month on X axis, defects per thousand on y axis. Scatter Diagram: Plot all data and try to …
May 20
Details on Input. Part – 3: Quality Assurance #PMP – Project Management
Quality Assurance Remember it is not quality control, it is just executing the development in such a way so that the quality requirements are met Input: Quality management plan Quality metrics Quality control measurements (Details will be added at a later time) From: http://sitestree.com/?p=11482 Categories:PMP – Project ManagementTags: Post Data:2017-10-17 15:35:20 Shop Online: https://www.ShopForSoul.com/ (Big …
May 20
Quality Control. Part – 1: Overview and Tools #PMP – Project Management
Quality Control Quality Control checks if the quality requirements are met or not. It is done throughout the process/development/production life cycle.Quality Control uses statistical sampling Tools for Quality Control: Cause and effect diagram: Shows how different factors relate together and affect the quality From: http://sitestree.com/?p=11484 Categories:PMP – Project ManagementTags: Post Data:2017-10-17 15:37:34 Shop Online: https://www.ShopForSoul.com/ …
May 20
Control Charts. Part – 2 : Project Quality Control #PMP – Project Management
Control Charts: Uses statistical sampling and known as statistical process control. Example: take quality measurements of different samples. Find the average quality. Draw a line with the average quality. Plot all the samples’s quality. Draw the line for upper quality limit. Draw the line for lower quality limit. If all/most points are in between the …
May 20
Quality Planning – Plan. Part – 2: Quality Management #PMP – Project Management
Quality planning – plan Identify quality specifications and requirements for the project. Plan hos the quality specifications will be met. Output: Quality management plan Quality metrics Quality checklists Process improvement plans Quality baseline (Details will be added at a later time) From: http://sitestree.com/?p=11474 Categories:PMP – Project ManagementTags: Post Data:2017-10-17 15:26:50 Shop Online: https://www.ShopForSoul.com/ (Big Data, …
