what does a company evaluate both the money allocated to a project and the time allocated to the project?
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what does a company evaluate both the money allocated to a project and the time allocated to the project?
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- Cost estimation plays a vital role in the success of any project. Explain the different tools and techniques due to which the process of cost estimation takes place.Can you produce an accurate forecast of the cost of a project using the cost-per-unit method of estimating? Explain7. Discuss what are the primary ways in which project managers use estimates throughout the project? Explain in detail.
- Major projects require a great deal of pre-planning so that all employees and subcontractors can use their time efficiently and effectively. What are some ways that time can be wasted on these projects?How accurate is a strategy for estimating the costs of engineering projects?Question 1 - Resource Constraints Imagine you are managing a construction project to build a new office building. You have several contractors working on different tasks, including excavation, foundation work, framing, roofing, electrical, and plumbing. However, due to the limited availability of certain resources, some tasks may be delayed, which could have a knock-on effect on the completion of the entire project. What strategies would you use to manage the resource constraints in this project? How important is it to have a plan in place for managing these constraints, and how might they impact the overall success of the project?
- Identify three factors that could help in reducing overhead costs in a projectYou should have picked up that companies that employ this message need cost recorded to generate revenue. In other words, it's vitally important that its subcontractors and vendors bill them timely and accurately. As a ProjectManager , ensure your subcontractors are complying and sending you their monthly requisitions on time?What is the purpose of a cost control system? |
- 10. Discuss what is the intended use for each of the following cost models? a. Project budget b. Project cost breakdown or schedule of values c. Progress estimates d. Change order estimates e. Project cash flow f. Final estimateAfter determining the various materials needed for the construction project, why is it that data should be organized and presented like the sample of bill of materials?1. What is the completion time? 2. When will the project be completed?