Importance of Project Estimation Processes and Concepts

This portfolio discusses the importance of project estimation processes and concepts in proper project execution and implementation. It includes insights from the readings and learnings from PPMP20013 Unit, with a focus on the different project estimation methods. The portfolio also reflects on the relevance of tools and techniques for investigating and describing project processes. Supporting documentation includes prior learning and readings from other units.

(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. Review using clear
terminology the
key areas and
processes of
project, program
and portfolio
management
practices as applies
to asset rich
organisations.
After attending this week’s lecture, I have understood that the importance of
the estimating process associated with a project. Understanding of the different
project estimation methods is essential for proper project execution and project
implementation.
Proper implementation of a project largely depends on the estimating processes
and the different concepts of a project.
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(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
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:
2. Discuss the
relevance of tools
and techniques for
investigating and
describing project
process related to
developing new
workings, facilities,
equipment, plant
and processes for
justifying,
designing,
developing, or
maintaining
existing facilities
and equipment
within the context
of their
technological and
asset lifecycle
status.
The use of different estimation tools ensures that the requirements and the
associated budget of a project are rightly estimated. Estimation is mainly done
at the beginning of the project and therefore it plays a major role in proper
execution of a project.
Schwalbe, K.,
2015. Information
technology project
management. Cengage
Learning.
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(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
New Parallel
Runway Project
 Jacobs Awarded
Contracts through
Brisbane Airport
Airside
 Airbiz: Aircraft
noise projections
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
3. Present and
interpret major
processes that are
based on sound
policy, information,
and research that
enable project
justification,
tenders, contracts,
and selection
criteria to occur in
an asset rich
organisation.
Project estimation is an essential project process that determines the different
processes of project implementation. Project estimation is one of the major
selection criteria of a project. This week’s lecture has provided a brief overview
of the different project estimation techniques.
In this portfolio please reflect on the readings (1st column) and the learning
outcome (2nd column). Ask yourself in what way does the readings provide
insights into the learning outcome? Maybe they don’t! What are your
thoughts?
Are there other insights that you can make from other units that you have
studied? Or your work and life experience?
PPMP20013 Unit Profile
PPMP20013 Moodle
Web site
Have you any insights
you can add from other
units you have studies or
readings you’ve made?
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(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
Brisbane Airport
 Hall Contracting:
New Parallel
Runway Project
 Jacobs Awarded
Contracts through
Brisbane Airport
Airside
 Airbiz: Aircraft
noise projections
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:
4. Critically analyse
management
strategies and
operational
activities from a
broad perspective
to ensure safety
and quality, to
avoid overruns or
rework, to manage
variations and
claims, and to make
decisions to
discontinue or
close projects.
The project manager or the program manager is responsible for initiation of
project processes associated with the estimation of the project. Proper cost
estimation in the project is essential for avoiding the cost overruns and
managing the different variations of the project.
PPMP20013 Unit Profile
PPMP20013 Moodle
Web site
Have you any insights
you can add from other
units you have studies or
readings you’ve made?
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(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
New parallel
runway for
Brisbane Airport
 Hall Contracting:
New Parallel
Runway Project
 Jacobs Awarded
Contracts through
Brisbane Airport
Airside
 Airbiz: Aircraft
noise projections
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
5. Demonstrate an
effective,
professional level
of teamwork and
communication and
support
collaborative peer
group learning.
Effective project estimation is an essential aspect of project completion and
aligns with the effective professional level of the project. This week’s learning
has provided a detailed understanding of the different project processes with a
special focus on the estimation of the project.
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(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
Brisbane Airport
 Jan De Nul Group:
New parallel
runway for
Brisbane Airport
 Hall Contracting:
New Parallel
Runway Project
 Jacobs Awarded
Contracts through
Brisbane Airport
Airside
 Airbiz: Aircraft
noise projections
References
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
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