Project Planning

Homework Assignment:

Instructions

Please put your name/date in the header. Answers should be no longer than six sentences per question (120 words). Please refer to the class syllabus for the grading rubric. Assignment is worth a total of 10 points. Questions are located in the Discussion Questions section at the end of each chapter.

Please save the file using the following naming system: Class_Name_Week#_Assignment. For example, if Rosie Dodson was submitting her week 7 homework, her file would be saved with the following title: MGMT410_RDodson_week7_homework.

Discussion Question 8.3:
Why is cost estimation such an important component of project planning? Discuss how it links together with the Work Breakdown Structure and the project schedule.

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Discussion Question 8.6:
This chapter suggests that “estimating project costs is a challenging process that can resemble an art form as much as science.” Describe the different methods used to estimate costs on a project. How useful are these methods?

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Discussion Question 8.10:
Would you prefer the use of bottom-up or top-down budgeting for project cost control? What are the advantages and disadvantages associated with each approach?

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Discussion Question 8.12:
Describe some of the benefits of developing budget contingencies for projects. Is it advantageous for project managers to apply contingency to every project? Justify your answer.

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