The text provides five specific areas or reasons that cost estimation seems to occur. Describe a project that you have been involved with where at least one of these factors occurred. How would you improve the cost estimation method with the knowledge you have gained in the reading this week?
Required Readings
Read the following chapters in Cost and Value Management in Projects:
- Chapter 3: Cost Estimation
- Chapter 4: Project Budgeting
Read the following journal article from ProQuest:
- Jedd, M. (2006, January). Project rescue. PM Network, 20(1), 64-68. Retrieved from ProQuest Database. The article provides a review of project budgeting, scope management, and helpful details on cost and schedule performance to aid in the discussion boards for the week.
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