Time and Cost Estimating Techniques Essays -- Project Management Obser

Time and Cost Estimating TechniquesEstimating work times provides several benefits for the project managing director. It gives an idea of the level of lawsuit required to completea project. This information then enables the project manager toproduce a realistic plan based upon that effort. Estimating as well as helpsthe project manager anticipate the budget for the project.There are many formal techniques available to estimate time and costfor activities. Please refer to the Project Management qualitySection for more details on these techniques. Any maven reviewing theseestimates should understand that they are approximations, nonaccuracies.Although the formal techniques are very specific, most of them havethe following tasks in crude* Break activities down into sm only pieces for easier and more accurate estimation. (WBS)* recapitulation historical information and compare to current activities.* Include a contingency buffer for likely risks.* Solicit advice from others that have previously completed similar activities.* Identify and document the assumptions and parameters used to derive the estimates.Microsoft ProjectMicrosoft Project is project heed software. Project managementsoftware assists project managers by providing a means for organizingproject information. A project manager uses the software to enter andmaintain a workplan that organizes activities and details. Thesoftware calculates the schedule dates for tasks based on the time orwork requirements of each task using a calendar of working days forthe project and its resources.Microsoft Project is a tool to assist project managers in creating aWBS, PERT Charts, Gantt Charts, and resource histograms. Other reportsand charts are also readily available for use and customization. AISproject team members and managers should use the latest version.PERT/CPMNetwork analysis techniques identify early and late start and finishdates for the uncompleted portions of project activities. The ProgramEvalu ation and Review Technique (PERT) and the Critical Path Method(CPM) are examples of network analysis techniques.The Program Evaluation and Review Technique (PERT) is anevent-oriented technique used to show all the project tasks,dependencies, and earliest and latest start times for each task ingraphical form. It is used... ...y are achieving the task goals. Thistype of observation can also be useful if aspects of team performanceare being investigated to understand how the team members areorganised and perform their tasks.Communication and conversational analysisinvestigation of the patterns in the organisation of peoplesinteraction (it would be possible to use the principle of analysing aconversation between two travellers, or one traveller and onetransport enquiry office operator in real situations, in order toidentify the needs for the traveller in specific contexts, what arethe difficulties encountered, how a system could resolve thesedifficulties,... ). One of these methods is the language / actionapproach which considers the language as a means by which people act.Advantage of this method it provides a complete and logicalconceptual frame in order to investigate all kinds of conversation.Disadvantage of this method many situations are characterised bysubtle communion processes not taken into account by the model.There is also a difficulty in labelling an interaction and a messageespecially if they do not fit into the request or promise categories.