In order to arrive at the estimate of the project cost, the project
manager will identify the various constituent physical elements that
are necessary to meet the project objectives. Then, the project
manager will develop the estimate of the project by summing the
estimate of resources for these elements, through a methodical use
of WBS and RBS.
A Work Breakdown Structure (WBS) provides a framework of common
reference for all project elements, for specific tasks within the
project, and ultimately for better schedules and better estimates.
If the WBS is used as the common skeleton for the schedule and for
the estimate, it will facilitate communication among the
professionals implementing the project. The most common, and the
easiest, method of developing the WBS is to use the tasks as the
basis, although the most useful is a deliverable-based WBS. A
Resource Breakdown Structure classifies and catalogs the resources
needed to accomplish project objectives. The RBS provides a
consistent framework for dividing the resources into small units for
planning, estimating, and managing.
Skill Level: Intermediate
Who Would Benefit by Attending? Mid-Level Project Managers, Estimators
Learning Objectives:
This course if focused on developing a deliverable-based WBS, and a detailed RBS, by way of arriving at estimate of the effort and duration associated with each element. The cost of the project
is derived from a roll-up of the costs of the elemental estimates. The duration of the project is also derived from the elemental duration estimate through a schedule network.
At the conclusion of this course, the attendees will be able to:
- Enumerate the rough cost estimating techniques
- Calculate a rough duration of the Project
- Recognize the elements of a detailed cost estimate
- Identify the three major bases of WBS development
- Explain the advantages and disadvantages of each WBS bases.
- Craft an RBS using resource cost and historical data
- Develop an elemental estimate by merging the RBS and WBS
- Conduct a roll up of cost estimates
- Calculate a roll up of the resource expenditures
Course Outline:
| Times |
Agenda / Instruction Material Covered |
|
| Day 1 |
|
|
| Morning |
Introduction
Key Concepts
Group Exercise |
| Afternoon |
Project Selection
Project Initiation
Project Success
Project Charter
Group Exercise |
|
| Day 2 |
|
|
| Morning |
Key Estimating Concepts
Accuracy of Estimates
Rough Estimates
Resource Breakdown Structure
Bottom-Up Estimates
Group Exercise |
| Afternoon |
Project Monitoring Fundamentals
Reasons for Change
Management of Change
Earned Value Computations
Group Exercise |
|
About the Instructor:
Dr. Parviz F. Rad PE CCE is the principal of Project Management Excellence,
which is an association of seasoned project management professionals
specializing in project management capability improvement through self
assessment, and through focused training. PME assignments include project
management competency assessment, organizational assessments, organizational
maturity modeling, internal project management certification guidelines,
Project Management Office implementation guidelines, project management
metrics, program evaluation, project success auditing, and project management
training.
Parviz F. Rad holds an M.Sc. Degree from Ohio State University and a Ph.D.
from Massachusetts Institute of Technology. He has over 40 years of
professional experience during which he has served
in governmental, industrial, and academic capacities. He has participated in
project management activities and in development and enhancement of
quantitative tools in project management in a
multitude of disciplines including software development, construction, and
pharmaceutical research. He has authored and coauthored over sixty
publications in the areas of engineering and project
management. Dr. Rad has been recognized as a Professional Civil Engineer,
Certified Cost Engineer, and as a Project Management Professional. Dr. Rad is
the former Editor of the Project
Management Journal.
[REGISTER]
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