PROJ 586 (Project Management Systems) Devry

Week 4

Planning and Monitoring : Costs, Budget, and Earned Value – Discussion 1

Cost Planning (Graded)

Cost planning starts with the proposal for the project, at which time project costs are estimated. And for budgeting purposes, it is best to keep the work packages or activities small in terms of scope and duration. What are some of the ways that a project manager can take these budgeting plans and track and compare them to actual data? In what sense is some cost reporting not reflective of the actual work performed? How can a project manager remedy this situation?

Planning and Monitoring : Costs, Budget, and Earned Value – Discussion 2

Earned Value Analysis (Graded)

Once your budget is planned and allocated across your work packages, it is critical to monitor and control your project’s cost. Why is monitoring and controlling the project cost important for the success of the project? What are some key components to monitor the health of the project, as it relates to earned value? How is earned value management different than straight financial accounting?

Week 4 Course Project:

Week 4 Course Project; Essay Questions

Week 4 Course Project; Update MS Project with Costs

Week 4 Homework Problems:

Week 4 Homework; Crashing and Earned Value Problems 1 – 6