Benefits of value management over entire project lifecycle, Project Management

Assignment Help:

Question:

(a) Project Value Management has gained significant acceptance in different fields of business and is regarded as a useful tool for promoting project sustainability internally and externally. It is a structured, systematic and analytical methodology that seeks to achieve the essential functions of a project at the lowest total cost, consistent with required levels of performance and quality.

(i) List six internal and external benefits of Value Management over the entire project lifecycle.

(ii) List the different phases for implementing Value Management. Give a brief description of each phase.

(b) Cost estimation is an important component of project planning. Discuss how it helps a project manager prepare the Work Breakdown Structure and Project schedule.


Related Discussions:- Benefits of value management over entire project lifecycle

Illustrate the product life cycle, Q. Illustrate the Product life cycle? ...

Q. Illustrate the Product life cycle? Every food product passes through different phases throughout its life and therefore, the need for development of a new product arises. Ea

NETWORK DIAGRAMS, AHOW TO FIND THE VARIANCE OF AN ACTIVITY AND THE THE PROB...

AHOW TO FIND THE VARIANCE OF AN ACTIVITY AND THE THE PROBABILTY THAT A WORK WILL BE FINISHED IN A GIVEN NUMBER OF DAYSsk question #Minimum 100 words accepted#

Identify the critical path, Please note that the exam is an individual effo...

Please note that the exam is an individual effort (NOT a group effort). Please be sure that all the submitted work is your own. You cannot discuss the test with your classmates or

Growth in outsourcing by organisations, Briefly explain the reasons for the...

Briefly explain the reasons for the growth in outsourcing by organisations. Outsourcing involves the contracting out of a business function to an external third partyprovider.

Define role of work breakdown structure in project software, Define the rol...

Define the role of work breakdown structure in project management software. Work breakdown structure in project management software: Project software can assist with coordin

Benefits of quality, B enefits of quality The benefits of quality in p...

B enefits of quality The benefits of quality in project performance are: C ustomer satisfaction: is the result of a quality product or project. If customers requirem

Purpose of the privatisation of public sector undertakings, What is the pur...

What is the purpose of the privatisation of public sector undertakings? Purpose of the privatisation of public sector undertakings: There have been purposes which have und

Changing customer demands and strong competition, In response to changing c...

In response to changing customer demands and strong competition, the new product development team of Z Company has been working on a new product range. However, the process has not

You are a Project manager at the Department of Public Works, Describe how y...

Describe how you, as a project manager in a Matrix Organisation, will set up your project r=team for the building of the community. Project team members names, and reason why they

Explain the wbs or cbs budgeting planning in project, Explain the WBS or CB...

Explain the WBS or CBS budgeting planning in project. Throughout a project, financial control can be accomplished by actual expenses being tracked against every budget assigned

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd