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By Parviz F. Rad

Enhance the accuracy of venture estimates and make larger in-progress adjustments through following the discipline-independent process mapped out during this e-book. study the easiest how you can follow new instruments, together with a breakdown constitution for either paintings and assets and confirmed estimating versions. additionally, you will achieve insights into most sensible practices for growth tracking and price administration, in addition to for dealing successfully with exterior tasks.

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Extra resources for Project Estimating and Cost Management (Project Management Essential Library)

Sample text

For example, the measurement for all time-related elements can be one of hours, days, months, or years, but the chosen unit should appear in all appropriate quantities (unless the numbers become unreasonably large or small). , length (inches, feet, ~ a r d scentimeters, , meters, kilometers) or volume (gallons, cubic ~ a r d scubic , centimeters, cubic meters). Limited resources mentioned, for example, might include 14 civil engineers available for a new project, or 2 cranes, or 35 brick layers, or 4 programmers, or 3 photographers.

Worker-hours multiplied by dollars per hour per worker yields dollars. Figures 3-1 and 3-2 show schematic representations of estimating the cost of using personnel or equipment over some duration. If three workers are used for four days, we have used 12 worker days. Multiplying by the cost rate yields the cost for that effort. Calculating the cost of equipment is similar except that the effort is measured in equipment days. One makes estimates through this conversion. )-step, one must estimate the effort.

PROJECT ESTIMATING A N D COST M A N A G E M E N T RBS Sample PROJECT ESTIMATING A N D COST M A N A G E M E N T facilitate ianalysis of ~roject'senvironme of inevita NOTES 1. A. Kerr, A System Fails at Mars, A Spacecraft Is Lost, Science 286 (November 19, 1999): 1457-1459. 2. Anonymous, Parametric Estimating Handbook, 2nd ed. (Washington, DC: US Department of Defense, 1999). 3. Anonymous, Skills and Knowledge of Cost Engineering, 4th ed. (Morgantown, WV: Association for Advancement of Cost Engineering-AACE, 1999).

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