Estimating Processes and Concepts for Project Management | Desklib

Explore and explain estimating processes and concepts to the project. Learn about the processes and concepts of estimating for project management. Read case studies and mandatory readings to gain insights.

(Insert Student Name) / (Insert Student Number) - PPMP20013Unit Portfolio for Week 4
Week 4: Define and apply estimating processes and concepts to the project.
Reading samples Learning
outcomes of the
unit
Learnings from your weekly study, experience, this and
prior unit readings and assignments
Supporting
documentation
including any
prior learning
Mandatory Readings
 Smith Chapters 7;
 AS 4915-2002
Project
management -
General
conditions;
Optional Readings
 Engineering &
Construction
Risk Institute;
Case Study
 BMD
Constructions
Awarded Civil
Contract for the
Reclamation Phase
of the New Parallel
Runway at
Brisbane Airport
 Jan De Nul Group:
New parallel
runway for
Brisbane Airport
 Hall Contracting:
New Parallel
Runway Project
1. Explore and explain
estimating
processes and
concepts to the
project
2. Processes of project
estimation
The 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 scope
 Establish of technical baseline
 Collection of data
 Size of the software
 Prepare the baseline estimation
 Quantify the risks and analysis of risks
 Review and validate the estimation
 Generate of project plan
 Document the estimation and lessons learned
 Track the project through the development process
I 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 Slides
1 of 3

(Insert Student Name) / (Insert Student Number) - PPMP20013Unit Portfolio for Week 4
Reading samples Learning
outcomes of the
unit
Learnings from your weekly study, experience, this and
prior unit readings and assignments
Supporting
documentation
including any
prior learning
 Jacobs Awarded
Contracts through
Brisbane Airport
Airside
 Airbiz: Aircraft
noise projections
3. Analysing of the case
studies with links
concerning the
participants in the
Brisbane Airport New
Parallel Runway
4. Kinds of estimates
and contracts might be
put together for the
participants
5. Types of approaches
into the cost estimation
construction is awarded with $30 million of contract for construction of the civil
works for Jan De Nul those are undertaken reclamation project for New Parallel
Runway for the Brisbane airport corporation. The award is continued with
association of BMD association and followed successful BMD completion of $60
million which is involved with preparation of site for the Brisbane Airport
Corporation.
I have observed that accurate estimation is required to be done when it is come
to the construction project management. In order to get proper project, there is
requirement of cost management. Into the engineering construction project
such as Hall Contracting: New Parallel Runway Project and BMD Constructions
Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at
Brisbane Airport, there is need of cost estimation strategy. The project
estimation allows the project manager for refining the tasks and adding of
estimation of the costs.
I have analysed of two approaches such as top down approach and bottom up
approach.
Top down approach is required to break down the system to gain of insight into
the sub-systems. This model is made easier for manipulation. The bottom-up
approach is required for rise to the complex system which make of original sub-
systems.
The top-down approach is defined the project tasks which is involved with goal
of project and final deliverables. The bottom up approach is relied on the project
team members to identify the tasks and organize the specific groups and work
packages. The project manager is used of proper accounting of time as well as
cost of project. The manager of project along with the stakeholders is required
to balance the accuracy of project by means of the project delivery.
Lecture Slides
2 of 3

(Insert Student Name) / (Insert Student Number) - PPMP20013Unit Portfolio for Week 4
Reading samples Learning
outcomes of the
unit
Learnings from your weekly study, experience, this and
prior unit readings and assignments
Supporting
documentation
including any
prior learning
Lecture Slides
References
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Muller, R. (2017). Project governance. Routledge.
Nicholas, J. M., & Steyn, H. (2017). Project management for engineering, business and technology. Taylor & Francis.
Yegidis, B. L., Weinbach, R. W., & Myers, L. L. (2017). Research methods for social workers. Pearson.
3 of 3