| Topic : Improving ROI with project management |
|
|
Project Management ++
|
Activity:
134 views;
last activity : 07 06 2010 20:18:09 +0000
|
|
|
|
1
Cost Analysis
2
UCP
3
Understanding of the Cost Elements and Cost Categorization
4
Fundamentals of estimation
5
Advice
6
Database
|
||||||||||||||||||||||
|
See when you construct a cost estimating spreadsheet with each cost driving factors in a single cell, it can be used to conduct cost sensitivity analysis. You can vary an uncertain quantitative assumption and the plot it against the range of results. If total project or product cost is relatively insensitive to a given variable, it can be left alone. If the project cost is sensitive to an uncertain assumption, specific efforts should be focused on gathering additional data to lessen that uncertainty.
|
3
|
Yes shekar its good idea and we should also we have to assume like uncertainty factors,mark-ups, and quantity multipliers in cells and where they can be accessed globally, then you can do iterations quickly, and your assumptions will be visible for reviewers and clearly documented for future reference. It is sometimes helpful to document your cost estimating methodology in a narrative form. This can help with subsequent reviews and audits, and it can lay the groundwork for developing an enterprise-wide cost estimating methodology.
|
With OOAD based develoment and Agile requirments UCP is a good bet if we have the details, however many a times we need to go in for WBS which is not that accurate coz of less visibily at the time of effort estimation. |
2
|
Thanks for the link Darpan.....
Hi Ajay
Read this may help you
http://www.c-sharpcorner.com/UploadFile/shivprasadk/UseCase04092009013423AM/UseCase.aspx
Hello!
Drapan
Please make it more clear the concept of UCP.
|
While performing project costing, It is important to have a detailed understanding of cost elements . This would help in mapping the Various cost elements to cost categories 1. Fixed Costs 2. Variable Costs 3. Direct Costs 4. Indirect Costs Others 5. Opportunity Costs 6. Sunk Costs 7. Life Cycle Costs Finally the TCO (Total Cost of Ownership) This way, if ll the costs are factored in in terms of Project costs (Infrastructure Hardware/Software, Licence costs, Training, Travel, Resource Rates, Start Up, Operational Costs etc ) is ensured
|
1
|
|
Dear Friend, Let us go to fundamentals of Project Costing.A large number of basics are aval for arriving at the cost estimation. 1) A available plant/ asset of known capacity can be extrapolated to our required size. The estimation is not so accurate, may be 30%. 2)A broad list of equipments / components are made after generally priliminary engineering which are then extrapolated with the help of available data base to arrive at cost estimation.This also includes piping/ cables/ steel etc component.The estimate is appx 20% accurarate. 3)The idea at item-2 is further refined with detailed engineering which brings down the estimation to appx 10-15% range.
|
1
|
|
I believe that as cost control and cost management become increasingly important given the evolving financial crisis, I would urge you to consider your advice and instead of adopting practices "used on most projects, most of the time", that we start to move beyond PMI’s rather simplistic approach and adopt "best" or at least "recommended" practices, as espoused by other organizations.
|
0
|
|
In organization good cost estimating requires a supportive environment. One way to help this is to develop projects using standard work breakdown structure categories, and then collect actual costs in a historical cost database. A cost database for software, for instance, could be used to collect data related to cost per line of code, software sizing algorithms, costs for function points, or cost data from bottom-up functional descriptions and tasks.
|
0
|
|
|
|
0 referals
14 answers,
2783 views
|
|
|
With both cement and steel producers hiking product prices, property prices are set for a big... |
|
|
166 referals
17 votes,
1756 views
|
|
|
close the sick projects vs revive the sick projects |
|
|
5 referals
12 arguments,
212 views
|
|
|
|
|
|
|
|
|
|
139 referals
2 votes,
60 views
|
|
|
When we are watching news channels or any other channel or reading news papers you bump upon... |
|
|
2022 referals
11 votes,
200 views
|
|
|
we all know the perils of talking on cell phones while driving. besides being hazourdous to... |
|
|
290 referals
2 votes,
36 views
|
|
|
Recently, fraud of unprecedented proportions has been reported. The perception of investors about disclosure and corporate governance standards is surely at a all time low. Employee morale is also bad. How should we look at careers and work life... |
Well it is the major problem in any project, This problem is evident in cost estimating procedures that may not promote consistency and accuracy of costs over the project development process, What are the main methodology used to develop a... |
Web builders come in all shapes and sizes. As the medium grows, so do the opportunities for niche and specialty shops to find a place in the market.Here are a few pointers on what to expect from different kinds of firms. Small "sole proprietor"... |