Estimating
Costs and Allocating Resources
To prepare for this assignment, I conducted a web
search on estimating the costs, effort, and/or activity duration associated
with ID projects. Accurate cost
estimates help you complete a project on-budget. Before you can perform cost estimation you
need to have completed the following processes: Define Scope, Create WBS,
Define Activities, Sequence Activities, Estimate Activity Resources, and
Estimate Activity Duration (Sharma, 2009).
Project
Cost Estimating Tools & Techniques
This site offers some tools and techniques for
project managers developing a project.
The site takes the project manager through the Project Management Life
Cycle. The Project Cost Estimating Tools
and Techniques tab lists tools and techniques that are used by project managers
to plan cost estimates. I liked this
site because it offers project management templates and has many other links to
help a project manager move easily through developing a project.
Project
Management Skills. (2012). Project cost estimating tools & techniques.
Retrieved from http://www.project-management-skills.com/project-cost-estimating.html
Bright
Hub PM
This website begins by introducing the reader to the
cycle of a project. It then introduces
cost estimating techniques that are commonly used in projects. The website has an explanation for each
technique. Bright Hub also offers a
number of links to aid in the process different process that. I have used this site to help me with my
charts and understand the different parts of the processes that we have already
completed.
Sharma.,
R. (2009). Tools used to estimate costs in project management. Retrieved
from http://www.brighthubpm.com/project-planning/54986-tools-used-to-estimate-costs-in-project-management/