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What are some of the pitfalls in cost estimating

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Reference no: EM131689632

Instructions: Each question has to be; coherent and cohesive, a minimum of 200 word answer for each question and you have to cite one sources.

Make sure your number each answer that goes with the question. This is a Project Quality Management Class.

1) What are some of the pitfalls in cost estimating?

2) What steps can a project manager take to address potential cost overruns?

3) What steps can a project manager take to make controlling costs easier?

4) Can the steps taken to manage controlling cost, and potential cost, be leveraged to control other areas of a project, such as a project's scope or schedule? Explain your answer.

5) What percentage of the total project effort do you think should be dedicated to project planning? Explain your answer.

6) What is the relationship between risk management and quality management of a project?

7) Why is it important to have both risk and quality management in place?

8) What happens to a project's success if you focus too much on risk management and not enough on quality management? Explain your answer.

Reference no: EM131689632

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