Usefulness of WBS in estimating cost by Ms. N and its team. Introduction: A Work Breakdown Structure (WBS) is a part of project management in which a single project is divided and sub-divided into various levels. This is done to ensure the completion of work with utmost efficiency. It helps in monitoring and controlling the work at each level by the project managers. Any changes at any level can be rectified easily and spontaneously.

Question

Want to see the full answer?

Answer 1

Question

Chapter 4, Problem 4.1.4C

Summary Introduction

To determine:

Usefulness of WBS in estimating cost by Ms. N and its team.

Introduction:

A Work Breakdown Structure (WBS) is a part of project management in which a single project is divided and sub-divided into various levels. This is done to ensure the completion of work with utmost efficiency. It helps in monitoring and controlling the work at each level by the project managers. Any changes at any level can be rectified easily and spontaneously.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Select a small business of which you are familiar and possibly where you may have a contact person willing to share basic information for the purposes of this assignment. Provide the name and location of the business. Provide a basic overview (a paragraph) of the business indicating the type for example retail, ecommerce, manufacturing etc. Also include the estimated size of the business by including the number of employees and annual profits. These will set the scope for the assignment and should be inserted above the worksheet table. Investigate/research the business to develop a Threat and Risk Assessment applying the worksheet (used in class) to determine the current situation of the business and provide recommendations (if applicable). Since this exercise can become quite detailed limit your analysis to hardware, software, and data if you can gain access to the information. If not, select areas which are accessible for information staying within the categories discussed in class.…

In your role as project leader for the organization's involvement in the annual United Way campaign, you have planned a party to mark the end of the fundraising initiative. What must you do to ensure the party is developed successfully? Thank people for attending the party for the United Way initiative. O Include the party in the planning document for the United Way initiative. Send out a calendar invite so the party appears on everyone's schedule. Reserve the room where the party will be held.

Risk management involves identification, assessment, control, and response to project risks to minimize the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective. Risk identification includes determining which risks may adversely affect the project objective and estimating what the potential impacts of each risk might be if they occur. Describe the steps involved to manage risk on a project. How can a risk assessment matrix help in this process? What risks for a project have the highest priority? Does the priority for a risk change as the project progress?