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Determine the cost of IT project

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There are various ways to determine the cost of an IT project. One way is to use the project management triangle which includes the three main project constraints of time, cost and scope. Another way is to use the project management life cycle which includes the five main project phases of initiation, planning, execution, monitoring and control, and closure.

There are many factors to be considered in determining the cost of an IT project. These include the project scope, the project timeline, the project team, the project risks, and the project budget.

There are a number of risk factors to be considered when determining the cost of an IT project. These include project scope creep, project schedule slippage, project team turnover, and project budget overruns.

The timeline for an IT project is the amount of time that is allocated for the project from start to finish. This includes the time for project initiation, project planning, project execution, project monitoring and control

Could you please explain these points to me?

Reference no: EM133265814

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