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Sab8#68:_Estimate Cost
Description
Mind Map on Sab8#68:_Estimate Cost, created by paty_r_g on 26/11/2015.
Mind Map by
paty_r_g
, updated more than 1 year ago
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Created by
paty_r_g
almost 9 years ago
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Resource summary
Sab8#68:_Estimate Cost
Cost Management Plan
Human Resource Management Plan
Scope Baseline
Project Schedule
Risk Register
Enterprise environmental factors EEF's
Organizational Process Assets OPA's
Project management estimating software
Vendor bid analysis
Annotations:
More than one contractor bid on the job
Reserve analysis
Annotations:
Putting some cash away just in case
Cost of quality
Annotations:
how much money it takes to do the project right
Group decision-making techniques
Variable Costs
Change with the amount of production or the amount of work
Annotations:
Cost of material, supplies and wages
Fixed Costs
Do not change
Annotations:
Cost of set-up, rent, utilities
Direct Costs
Are directly attributable to the work on the project
Annotations:
Team travel, team wages, recognition, cost of material used on the project
Indirect Costs
Are overhead items or costs incurred for the benefit of more than one project
Annotations:
Taxes, fringe benefits and janitorial services
Project management costs
Determining Resource Cost Rates
Accuracy or Estimates
Rough Order or Magnitude (ROM) Estimate
Annotations:
Made during project initiating -25 to +75 percent
Budget Estimate
Annotations:
Made during project planning -10 to +25 perecent
Definitive Estimate
Annotations:
As the project progresses, the estimate will become more refined -5 to +10 percent
Activity cost estimate
Explanation of how those estimates were derived
Updates to the risk register and other project documents
Media attachments
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