1. IT-301 Project Management I: Unit 4: Cost Management

2. Unit 2: Scope Management Key concepts in establishing and managing a schedule Establish the Scope (WBS) Progressive Elaboration: Do I Have ATHWAOTHRTCTP identified? Estimate (Resources, Effort, Duration, Cost) ROM, Budgetary, Definitive (PERT (O +4*ML + P)/6 CPM – Critical Path Method Use of Scheduling Software

3. Unit 3: Time Management What is the connection between Scope Management and Time Management? WBS documents the established scope by: –1. Identifying the major areas of work associated with a project –2. Establishes detailed points of evaluation toward task deliverables, activities –3. Identifying the relationships between project activities –4. Enabling more concise project management

4. Unit 4: Cost Management Key Concept in Cost Management –Cost Estimating Based on WBS, Duration, Resources –Cost Budgeting Based on ROM, Budgetary, Definitive Estimates –Cost Control Utilizing tools and techniques to monitor costs

5. Unit 5: Quality Management The Fourth Constraint (Scope, Time, Cost) Quality Management Involves: –Quality Planning Identify the standards and determine how to satisfy them –Quality Assurance Periodically evaluating overall project performance to ensure project will satisfy the relevant standard (benchmarking, audits) –Quality Control Monitoring project results to ensure that they comply with the relevant quality standards while identifying ways to improve overall quality.

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