QUESTION

(a) Accurate estimation is crucial for effective planning and control and is associated with time, information, experience of estimator, techniques used and funding. Discuss the four main types of Estimating Methodology

(b) The Work Breakdown Structure is a particularly important project tool that requires considerable thought and planning in its development and implementation, in view of minimizing subsequent changes. Major revisions to a WBS require both substantial effort and resources, due to its application to a wide array of project activities. Discuss the importance of the Work Breakdown Structure in the Project Life Cycle

(c) Briefly elaborate on the importance of a Project Charter