logo

Estimating Processes and Concepts for Project Management | Desklib

   

Added on  2021-05-31

3 Pages817 Words236 Views
 | 
 | 
 | 
(Insert Student Name) / (Insert Student Number) - PPMP20013Unit Portfolio for Week 4Week 4: Define and apply estimating processes and concepts to the project.Reading samplesLearning outcomes of the unitLearnings from your weekly study, experience, this and prior unit readings and assignmentsSupporting documentation including any prior learningMandatory ReadingsSmith Chapters 7;AS 4915-2002 Project management - General conditions;Optional ReadingsEngineering & Construction Risk Institute;Case StudyBMD Constructions Awarded Civil Contract for the Reclamation Phaseof the New ParallelRunway at Brisbane Airport Jan De Nul Group: New parallel runway for Brisbane Airport Hall Contracting: New Parallel Runway Project 1.Explore and explainestimating processes and concepts to the project2. Processes of project estimationThe objective of this week’s topic is to explore and explain estimating processes and concepts to the project;The chapter explores of estimating process. It is good and relevant for the owners of the larger assets. Estimation is process to find the estimate and approximation which is value that is unusable for the purpose if the input data are incomplete and uncertain. The value is usable as it is derived from the available information. Estimation process is beginning with understanding the scope of the financial work. Estimation process is cost control with development of the good estimation as basis of the submittal. Estimating is process to look in future and predict the project cost along with requirements of resources. The project estimation processes are as follows:Establish of estimation of scopeEstablish of technical baselineCollection of dataSize of the softwarePrepare the baseline estimationQuantify the risks and analysis of risksReview and validate the estimationGenerate of project planDocument the estimation and lessons learnedTrack the project through the development processI have reviewed various case studies and concluded that estimation of process for the engineering construction is required. I have gone through the “Engineering & Construction Risk Institute”, and BMD Lecture Slides1 of 3
Estimating Processes and Concepts for Project Management | Desklib_1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Importance of Project Estimation Processes and Concepts
|6
|1291
|194

Estimating Processes and Concepts in Project Management - Week 4 Portfolio
|6
|1579
|208

PPMP20013 Unit Portfolio Week 4
|7
|1480
|52

Estimating Processes and Concepts in Project Management
|4
|1073
|61

Project Requirements and Change Processes Management - PPMP20013 Unit Portfolio Week 5
|5
|1217
|474

PPMP20013 Unit Portfolio for Week 5
|5
|1338
|88