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Planning and Scheduling – Session 4

Topics:

•Calculate a project budget using cost estimating techniques

•Assess Project Stakeholder Risk Tolerances
•Determine realistic responses to unacceptable risks
•Discuss procurement management steps
•Determine the Project Baseline (aka Performance Management Baseline)
Terms:
  • Costs
    • Indirect
    • Direct
    • Fixed
    • Variable
  • Estimating Techniques
    • Analogous (top down)
    • Parametric
    • Bottom-Up
  • Budget
  • Constraints
  • Baseline
  • Risk
  • Threats
  • Opportunities
  • Triggers
  • Probability
  • Consequences (Impact)
  • Risk Identification
  • Risk Analysis
  • Risk Responses
    • Negative
      • Avoid
      •  Transfer
      • Mitigate
      • Accept
    • Positive
      •  Accept
      •  Sharing
      •  Enhance
      • Exploit
  • “Make-or-buy”
  • Contract types
    –Cost reimbursable/Cost plus/Cost Plus Fixed Fee/Cost Plus Incentive Fee
    –Time & materials
    –Fixed price
    –Purchase order

References:

Recommended Course Materials:
The PMBOK® Guide, 4th Ed. 2008, by PMI*
The Fast Forward MBA in Project Management, 3rd Ed. 2008, by Eric Verzuh

Homework:

•Fast Forward MBA in Project Management, 3rd Edition, Eric Verzuh
–Read/Review Chapters  11 & 13
•PMBOK® Guide, 4th ed.
–Read/Review Section 4.2, 5.4 & 10.2
* “PMI”, “PMBOK”, “CAPM” and “PMP” are registered marks of the Project Management Institute, Inc.
**The Verzuh templates are only available to those who purchase “Fast Forward MBA In Project Management – 3rd edition.
Additional Resources:
Templates:
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