How would you prepare time and cost estimates for project

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Assignment

Prior to beginning work on this discussion, please review the Weekly Lecture and assigned page ranges from Chapters 5 and 7 in your textbook to gain an understanding of what goes into planning and executing projects. Then, answer the following questions in your post.

Project managers are given all sorts of projects.

How do project managers prepare time and cost estimates for their projects, especially when they are not familiar with the project scope?

How would you prepare time and cost estimates for your project?

Understanding the critical path of a project is key.

How would you explain the concept of critical path to someone who may not be aware of it?

How will understanding your project's critical path affect your projects overall timeline?

Guided Response: Review several of your classmates' introductory posts, respond to at least two of your peers, and answer any questions the professor has posted to you. Post your required replies early during the week to promote more meaningful and interactive discourse in this discussion.

Identify how your peers' explanations differ from your understanding, and offer at least one example, explanation, or experience to support your comments or position that your peers may not have considered. Your replies should be at least 100 words and add to the class's body of knowledge. Continue to monitor the discussion forum until 5:00 p.m. on Day 7 and respond with robust dialogue to anyone who replies to your initial post.

Chwalbe, K. (2017). An introduction to project management (6th ed.).

Chapter 5: Planning Projects, Part 2 (Project Time and Cost Management) (read pages 149-154; 172-180)

Chapter 7: Executing Projects (read pages 256-288)

Reference no: EM132255042

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