Plagiarism free -Please
2 years ago 65
ASSIGNMENTINSTRUCTIONCT3_CT4.docx
AssignmentSampleCT4EstimatingProblems.pdf
ASSIGNMENTINSTRUCTIONCT3_CT4.docx
CT3 - Create a Work Breakdown Structure (WBS)—Essay
Based on the course readings and your research, address the following requirements:
1. Delivery Performance Domain: identify the activities, functions, or work elements associated with delivering the scope and quality that typical projects are undertaken to achieve (see Section 2.6 in the PMBOK Guide - 7th edition to find out more about these activities and functions delineated in the Delivery Performance Domain).
2. Based on the project elements presented in Problem 11-2 of the textbook (Kerzner, 2022, p. 429), use a software application of your choosing (e.g., Microsoft Vision or Charts in https://app.diagrams.net/) to create a WBS (down through level 3). Include your WBS as an appendix to your essay.
Write an essay to address the above-noted requirements and properly organize your writing by including the following:
· Cover page
· Introduction
· Body of your work in response to the assignment's key elements, with headings and subheadings
· Conclusion
· List of references
· Appendix (WBS)
CT4: The Estimating Problem—Essay
Based on your review and analysis of the "The Estimating Problem" case study (Kerzner, 2022, p. 527), addresses the following key elements:
· Develop a clear and concise synopsis of the case study.
· Explain how the identified problem affects the project's schedule, cost, and scope.
· In your own words, with cited support from peer-reviewed or professionally published sources, clearly and concisely define the construct of the schedule's critical path. Describe how the identified problem may affect the schedule's critical path.
· Assess whether the estimating method used was appropriate. If so, what would cause the results to be questionable? If not, what estimating method would you recommend? Substantively justify your response using cited peer-reviewed or professionally published sources.
· Assess the pros and cons of the extant estimating process; what, if any, changes would you recommend?
Please note that extant estimating is not a term of art in project management. You need to identify the extant (i.e., existing) estimating process in the organization referenced in the case study. By doing this, you will specify the current state-of-project-management in the area of estimating.
Write an essay to addresses the above-noted requirements, and properly organize your writing by including the following:
· Cover page
· Introduction
· Body of your work in response to the assignment's key elements, with headings and subheadings
· Conclusion
· List of references
· Appendices (as applicable)
AssignmentSampleCT4EstimatingProblems.pdf
1
The Estimating Problem
Kristie Lin
Colorado State University Global
PJM 500 Module 4 Critical Thinking
Dr. Melinda Hollingshed
3/7/21
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
2
The Estimating Problem
Having an accurate estimation of the project timeline is crucial for all stakeholders.
Investors want to know when they can start to see a return on their investment, and the project
management team needs to deliver the product on time to please their client or investors. If the
project timeline comes up short, there could be a high chance that the project would be
completed late. Additionally, if there are too many resources allocated for a section of the
project, those resources could be wasted. In contrast, if too few resources are allocated, burnout
of employees and a prolonged timeline could occur. All of these scenarios are not ideal and can
increase project costs or delay the project, which is why choosing the correct method of
estimating is pivotal to the success of a project.
Case Study Synopsis
Barbara’s company had just won a bid for a new project. The estimating team had already
submitted their estimates in their proposal, however, Barbara wanted to review the estimates.
One issue with the estimates that Barbara had identified was a critical work package that the
estimating team predicted would take twelve weeks to complete. With Barbara’s experience, she
believed that the estimating team was completely off with their three-point estimate.
Throughout the case study, there were multiple methods of estimating mentioned,
including triangular distribution, analogy estimating, and expert judgement. Triangular
distribution would have estimated the critical work package would be completed in thirteen
weeks. According to Peter, who is a grade 9 employee, and considered to be an expert on this
work package, the more realistic timeline would be closer to 16-17 weeks. Peter also suggested
that to account for the complexity of the project, analogy estimating would have been the better
method to predict the estimate.
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
3
Even if the estimating team considered adding more man power to the critical work
package, Peter believed that additional people would not shorten the schedule, and instead make
it worse. The estimating team had also allocated a grade 7 employee full time to the critical work
package and predicted that with the grade 7 employee, the work package would be completed in
12 weeks. According to Peter’s experience and knowledge, a grade 7 employee would probably
take approximately 20 weeks, not 12.
Critical Path
The critical path of a project is basically the minimum amount of tasks or activities that
are required in order for the project to be completed (Project Manager, n.d.). Any alteration or
delay with any of these tasks or activities can cause a setback and potentially postpone the
delivery date. In the case study, part of the critical path is the critical work package that is under
review. The critical path determined by the estimating team was allocated 12 weeks to complete
the critical work package. Judging by the opinions of Barbara and Peter, the likelihood of the
critical path being extended is very high.
Three-Point Estimating
As pointed out in the case study, using the three-point estimating process does not
account for any complexity factors and it is best utilized for smaller projects that are not as
complex as the current project that Barbara is working on (Kerzner, 2017). If the estimating team
had followed Peter’s advice and used a combination of analogy estimating as well as expert
judgement, the team would have gotten a more accurate estimate. Being realistic about
deliverables and timelines will only help the company when it can complete the project on time
and not be penalized for a late delivery. It is never a good thing when a company over-promises
and under-delivers and in this case, Barbara’s company is at risk of doing so. The three-point
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
4
estimate would be over-promising the client considering all the other estimating methods
predicted the project would take longer. If the project were delayed, Barbara’s company would
have under-delivered.
With the three-point estimating method, there can be some advantages to utilizing this
process. There is also a point and time of when the three-point estimation would be the best
method to employ. Three-point estimating allows organizations to quantify risks and have it built
into the project budget (Roseke, 2018). The issue with three-point estimating, on top of not
accounting for complexity factors, is that this type of estimating method requires a lot of detailed
information that sometimes is not available at the start of a project (Roseke, 2018). It is also very
complex to execute. Thus the three-point estimating method was not the right method to use for
this project.
Estimating Process
Before the estimating team submitted their estimates in the proposal, the team should
have gathered more information and consulted other experts. They should have collected
information on recent experiences with similar projects or work, professional and reference
material, market and industry surveys, knowledge of operations and processes, interviews with
subject matter experts, and utilize estimating software and databases (Kerzner, 2017). All of this
information is critical for the estimating team to have in order to make a good estimate (Kerzner,
2017). The project manager should have been consulted as well on the estimates, seeing as how
she is responsible for planning, organizing, and directing the project to its completion.
Recommendation
As far as recommendations go, the company should not just rely on one method to
estimate the project schedule, necessary resources, and costs. Because of the complexity of the
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
5
project, a combination of analogous estimating as well as parametric estimating might give the
company the most accurate estimate of how long the project will really take (Goodrich, 2015).
Being able to take into consideration the timeline of similar projects that have occurred in the
past should provide the company a good layout of what the current project’s schedule will look
like. Parametric estimating is actually said to be more accurate however, taking into
consideration of Peter’s expertise, adding an analogous estimation would provide a more realistic
estimate (Goodrich, 2015).
Conclusion
When it comes down to estimating and planning the project schedule, it is wise to consult
those with previous experience in the specified area. Referring to similar projects that were
completed in the past can also provide a good estimate of how long the project will take. Bottom
line is with the complexity of the project, a three-point estimation is not the best method to
utilize. Instead, a combination of parametric and analogous estimating would be more accurate
and provide a more realistic project schedule.
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
6
References
Goodrich, B. (2015). Analogous estimating vs parametric estimating. PM Learning Solutions.
https://www.pmlearningsolutions.com/blog/analogous-estimating-vs-parametric-estimatin
g-pmp-concept-4
Kerzner, H. (2017). Project management: A systems approach to planning, scheduling, and
controlling (12th ed.). Hoboken, NJ: John Wiley & Sons.
Project Manager. (n.d.). What is the critical path?.
https://www.projectmanager.com/critical-path-method
Roseke, B. (2018). Three point estimating for the PMP exam. Project Engineer.
https://www.projectengineer.net/three-point-estimating-for-the-pmp-exam/#:~:text=Three
%20point%20estimating%20is%20a,in%20to%20the%20project%20budget.
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/ Powered by TCPDF (www.tcpdf.org)
ASSIGNMENTINSTRUCTIONCT3_CT4.docx
CT3 - Create a Work Breakdown Structure (WBS)—Essay
Based on the course readings and your research, address the following requirements:
1. Delivery Performance Domain: identify the activities, functions, or work elements associated with delivering the scope and quality that typical projects are undertaken to achieve (see Section 2.6 in the PMBOK Guide - 7th edition to find out more about these activities and functions delineated in the Delivery Performance Domain).
2. Based on the project elements presented in Problem 11-2 of the textbook (Kerzner, 2022, p. 429), use a software application of your choosing (e.g., Microsoft Vision or Charts in https://app.diagrams.net/) to create a WBS (down through level 3). Include your WBS as an appendix to your essay.
Write an essay to address the above-noted requirements and properly organize your writing by including the following:
· Cover page
· Introduction
· Body of your work in response to the assignment's key elements, with headings and subheadings
· Conclusion
· List of references
· Appendix (WBS)
CT4: The Estimating Problem—Essay
Based on your review and analysis of the "The Estimating Problem" case study (Kerzner, 2022, p. 527), addresses the following key elements:
· Develop a clear and concise synopsis of the case study.
· Explain how the identified problem affects the project's schedule, cost, and scope.
· In your own words, with cited support from peer-reviewed or professionally published sources, clearly and concisely define the construct of the schedule's critical path. Describe how the identified problem may affect the schedule's critical path.
· Assess whether the estimating method used was appropriate. If so, what would cause the results to be questionable? If not, what estimating method would you recommend? Substantively justify your response using cited peer-reviewed or professionally published sources.
· Assess the pros and cons of the extant estimating process; what, if any, changes would you recommend?
Please note that extant estimating is not a term of art in project management. You need to identify the extant (i.e., existing) estimating process in the organization referenced in the case study. By doing this, you will specify the current state-of-project-management in the area of estimating.
Write an essay to addresses the above-noted requirements, and properly organize your writing by including the following:
· Cover page
· Introduction
· Body of your work in response to the assignment's key elements, with headings and subheadings
· Conclusion
· List of references
· Appendices (as applicable)
AssignmentSampleCT4EstimatingProblems.pdf
1
The Estimating Problem
Kristie Lin
Colorado State University Global
PJM 500 Module 4 Critical Thinking
Dr. Melinda Hollingshed
3/7/21
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
2
The Estimating Problem
Having an accurate estimation of the project timeline is crucial for all stakeholders.
Investors want to know when they can start to see a return on their investment, and the project
management team needs to deliver the product on time to please their client or investors. If the
project timeline comes up short, there could be a high chance that the project would be
completed late. Additionally, if there are too many resources allocated for a section of the
project, those resources could be wasted. In contrast, if too few resources are allocated, burnout
of employees and a prolonged timeline could occur. All of these scenarios are not ideal and can
increase project costs or delay the project, which is why choosing the correct method of
estimating is pivotal to the success of a project.
Case Study Synopsis
Barbara’s company had just won a bid for a new project. The estimating team had already
submitted their estimates in their proposal, however, Barbara wanted to review the estimates.
One issue with the estimates that Barbara had identified was a critical work package that the
estimating team predicted would take twelve weeks to complete. With Barbara’s experience, she
believed that the estimating team was completely off with their three-point estimate.
Throughout the case study, there were multiple methods of estimating mentioned,
including triangular distribution, analogy estimating, and expert judgement. Triangular
distribution would have estimated the critical work package would be completed in thirteen
weeks. According to Peter, who is a grade 9 employee, and considered to be an expert on this
work package, the more realistic timeline would be closer to 16-17 weeks. Peter also suggested
that to account for the complexity of the project, analogy estimating would have been the better
method to predict the estimate.
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
3
Even if the estimating team considered adding more man power to the critical work
package, Peter believed that additional people would not shorten the schedule, and instead make
it worse. The estimating team had also allocated a grade 7 employee full time to the critical work
package and predicted that with the grade 7 employee, the work package would be completed in
12 weeks. According to Peter’s experience and knowledge, a grade 7 employee would probably
take approximately 20 weeks, not 12.
Critical Path
The critical path of a project is basically the minimum amount of tasks or activities that
are required in order for the project to be completed (Project Manager, n.d.). Any alteration or
delay with any of these tasks or activities can cause a setback and potentially postpone the
delivery date. In the case study, part of the critical path is the critical work package that is under
review. The critical path determined by the estimating team was allocated 12 weeks to complete
the critical work package. Judging by the opinions of Barbara and Peter, the likelihood of the
critical path being extended is very high.
Three-Point Estimating
As pointed out in the case study, using the three-point estimating process does not
account for any complexity factors and it is best utilized for smaller projects that are not as
complex as the current project that Barbara is working on (Kerzner, 2017). If the estimating team
had followed Peter’s advice and used a combination of analogy estimating as well as expert
judgement, the team would have gotten a more accurate estimate. Being realistic about
deliverables and timelines will only help the company when it can complete the project on time
and not be penalized for a late delivery. It is never a good thing when a company over-promises
and under-delivers and in this case, Barbara’s company is at risk of doing so. The three-point
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
4
estimate would be over-promising the client considering all the other estimating methods
predicted the project would take longer. If the project were delayed, Barbara’s company would
have under-delivered.
With the three-point estimating method, there can be some advantages to utilizing this
process. There is also a point and time of when the three-point estimation would be the best
method to employ. Three-point estimating allows organizations to quantify risks and have it built
into the project budget (Roseke, 2018). The issue with three-point estimating, on top of not
accounting for complexity factors, is that this type of estimating method requires a lot of detailed
information that sometimes is not available at the start of a project (Roseke, 2018). It is also very
complex to execute. Thus the three-point estimating method was not the right method to use for
this project.
Estimating Process
Before the estimating team submitted their estimates in the proposal, the team should
have gathered more information and consulted other experts. They should have collected
information on recent experiences with similar projects or work, professional and reference
material, market and industry surveys, knowledge of operations and processes, interviews with
subject matter experts, and utilize estimating software and databases (Kerzner, 2017). All of this
information is critical for the estimating team to have in order to make a good estimate (Kerzner,
2017). The project manager should have been consulted as well on the estimates, seeing as how
she is responsible for planning, organizing, and directing the project to its completion.
Recommendation
As far as recommendations go, the company should not just rely on one method to
estimate the project schedule, necessary resources, and costs. Because of the complexity of the
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
5
project, a combination of analogous estimating as well as parametric estimating might give the
company the most accurate estimate of how long the project will really take (Goodrich, 2015).
Being able to take into consideration the timeline of similar projects that have occurred in the
past should provide the company a good layout of what the current project’s schedule will look
like. Parametric estimating is actually said to be more accurate however, taking into
consideration of Peter’s expertise, adding an analogous estimation would provide a more realistic
estimate (Goodrich, 2015).
Conclusion
When it comes down to estimating and planning the project schedule, it is wise to consult
those with previous experience in the specified area. Referring to similar projects that were
completed in the past can also provide a good estimate of how long the project will take. Bottom
line is with the complexity of the project, a three-point estimation is not the best method to
utilize. Instead, a combination of parametric and analogous estimating would be more accurate
and provide a more realistic project schedule.
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/
6
References
Goodrich, B. (2015). Analogous estimating vs parametric estimating. PM Learning Solutions.
https://www.pmlearningsolutions.com/blog/analogous-estimating-vs-parametric-estimatin
g-pmp-concept-4
Kerzner, H. (2017). Project management: A systems approach to planning, scheduling, and
controlling (12th ed.). Hoboken, NJ: John Wiley & Sons.
Project Manager. (n.d.). What is the critical path?.
https://www.projectmanager.com/critical-path-method
Roseke, B. (2018). Three point estimating for the PMP exam. Project Engineer.
https://www.projectengineer.net/three-point-estimating-for-the-pmp-exam/#:~:text=Three
%20point%20estimating%20is%20a,in%20to%20the%20project%20budget.
This study source was downloaded by 100000856080857 from CourseHero.com on 03-07-2024 04:23:02 GMT -06:00
https://www.coursehero.com/file/90322509/PJM-500-Module-4-Critical-Thinking-Option-1pdf/ Powered by TCPDF (www.tcpdf.org)
- Compare and contrast the characters in the short stories 'A Rose for Emily' and 'The Yellow Wallpaper'
- use spherical coordinates to describe the region above the xy plane between the spheres of radius 1 and 3 centered at the origin.
- ACCT 505 w7 dq2 Exam Review
- please help
- Discussion
- i need someone to help me with my essay
- Crash agrees to have Steve represent him in various transactions as an agent to secure him performance contracts and endorsement deals.
- Geometry Summer online course i need someone to do that for me
- assignment algebra
- business class