Sab8#68:_Estimate Cost

paty_r_g
Mind Map by paty_r_g, updated more than 1 year ago
paty_r_g
Created by paty_r_g about 6 years ago
21
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Description

Mind Map on Sab8#68:_Estimate Cost, created by paty_r_g on 11/26/2015.

Resource summary

Sab8#68:_Estimate Cost
  1. Cost Management Plan
    1. Human Resource Management Plan
      1. Scope Baseline
        1. Project Schedule
          1. Risk Register
            1. Enterprise environmental factors EEF's
              1. Organizational Process Assets OPA's
                1. Project management estimating software
                  1. Vendor bid analysis

                    Annotations:

                    • More than one contractor bid on the job
                    1. Reserve analysis

                      Annotations:

                      • Putting some cash away just in case
                      1. Cost of quality

                        Annotations:

                        • how much money it takes to do the project right
                        1. Group decision-making techniques
                          1. Variable Costs
                            1. Change with the amount of production or the amount of work

                              Annotations:

                              • Cost of material, supplies and wages
                            2. Fixed Costs
                              1. Do not change

                                Annotations:

                                • Cost of set-up, rent, utilities
                              2. Direct Costs
                                1. Are directly attributable to the work on the project

                                  Annotations:

                                  • Team travel, team wages, recognition, cost of material used on the project
                                2. Indirect Costs
                                  1. Are overhead items or costs incurred for the benefit of more than one project

                                    Annotations:

                                    • Taxes, fringe benefits and janitorial services
                                  2. Project management costs
                                    1. Determining Resource Cost Rates
                                      1. Accuracy or Estimates
                                        1. Rough Order or Magnitude (ROM) Estimate

                                          Annotations:

                                          • Made during project initiating -25 to +75 percent
                                          1. Budget Estimate

                                            Annotations:

                                            • Made during project planning -10 to +25 perecent
                                            1. Definitive Estimate

                                              Annotations:

                                              • As the project progresses, the estimate will become more refined -5 to +10 percent
                                            2. Activity cost estimate
                                              1. Explanation of how those estimates were derived
                                                1. Updates to the risk register and other project documents
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