Project Estimating and Cost Management
In the Estimate Costs process, the cost of each project activity is estimated. An interesting point about this process is that it uses the same three tools used in the Estimate Activity Duration process.
In the estimate activity duration process you were determining the time taken by each activity. Now, in estimate costs process, you will calculate the total cost of the project.
Many of the currently available books on estimating cover project estimating in a discipline-specific mode, such as construction estimating, software development estimating, and process plant estimating. Although there is a great deal of commonality in estimating techniques among all industries, distilling the non discipline-specific topics is sometimes difficult because they tend to get masked by the details of the discipline that is the subject of the project.
Project Estimating and Cost Management covers the fundamentals of estimating projects in a discipline-independent context. It covers the essentials of project estimating, progress monitoring, and cost management, and is intended for project professionals who need a quick overview of the process of estimating the cost of projects. Special attention is focused on estimate accuracy and the issues surrounding cost and schedule overruns.
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