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Project Management Time-Cost Trade-Off

 

In Project Management Time-Cost Trade-Off, all significant human undertakings can be viewed as projects; some have more successful outcomes than others. Project Management Time-Cost Trade-Off is essential both to the individual worker planning his own work and the multinational company developing new production facilities for the next century. The first stage is to examine the possible projects, estimating their costs, benefits and risks. The best options are then analyzed in more detail: their costs, time schedules and resource implications are all assessed. For the Project Management Time-Cost Trade-Off alternative project plans are considered and the best plan is implemented. Throughout the project the manager must keep control of the schedule, cost and technical quality to ensure successful completion on time and to budget.

 

In addition to the common sense about the Time-Cost Trade-Off there are many Project Management Time-Cost Trade-Off courses which introduce various techniques and their application. The first part of the course considers the evaluation and selection of projects, while the second part examines their management by taking the trade-off in between. The techniques are illustrated with examples in a variety of industries, including software systems’ developments. A number of case studies will be examined, analyzing some of the dramatic projects of recent years, including:

 

  • The Challenger disaster, a preventable tragedy?
  • Taurus a £400 Million IT failure?
  • The Channel Tunnel, a financial disaster or a technological triumph?
  • The London Ambulance Service’s computer aid dispatch system.
  • The Jubilee Extension Line, a project fit for a Queen?
  • Chep Lak Kok, Hong Kong's new airport
  • Mekong Hydro development project, reconciling engineering & social development
  • The Scottish Parliament Building, a devolved folly?

 

Project Management Time-Cost Trade-Off Course Objectives:

  • The course should enable students to:
  • Appreciate the practicalities of project evaluation and management;
  • Understand and use techniques for the evaluation, planning and management of projects;
  • Examine the issues and problems in being a project manager;
  • Experience the use of computer software in project evaluation and management. This will centre on the use of Microsoft Project and Excel

For more info please visit: http://www.stir.ac.uk/departments/management/management&organisation/Postgrad/Mansci/units/ISO7.htm

 

Project Management Time-Cost Trade-Off tool: The Project Estimating Tool!

This recent release of Cost Xpert 3.0 includes new Project Types, Lifecycles, and Standard to choose from when defining your project. It also includes a significant refinement to the basic costing model to better describe the relative efficiencies of using different pairings of Lifecycles and Standards. Another refinement to the costing model adjusts the Optimal Delivery Time or schedule for very small projects.

 

Cost Xpert 3.0 includes new parametric volume estimating methodologies including the addition of Internet Points and UML Use-Case Points and Class-Method Points. The volume estimating methodologies now includes separate tabs for Commercial Off-the-Shelf (COTS) software. Cost Xpert also now allows users to export and import project size estimates to and from Microsoft Excel.

 

Cost Xpert now supports more than two programming languages in the description of a single project as well as over 400 new programming languages to choose from when selecting your program language mix. It also contains 12 new environmental factors or cost drivers that can affect the cost and schedule of your project.

 

Cost Xpert includes enhancements to the Work Breakdown Structure (WBS) and the ability to adjust the time-cost tradeoff according a defined maximum team size. Cost Xpert introduces a new "Calibration" feature that allows you to store the actual level of effort and schedule for completed projects and use these stored values to calibrate the cost coefficients for a Project Type.

 

Finally, each new release of Cost Xpert includes updates to the project metrics included within the Cost Xpert data base. These updated metrics are refinements to the previous metric used in Cost Xpert and are based on the study of newly completed projects. The Cost Xpert Group at Marotz, Inc. works hard to keep Cost Xpert current with the most up to date research and data available. This research includes recent work by Dr. Barry Boehm, Capers Jones and others, including metric gathered from Cost Xpert users. Cost Xpert has been certified as compliant with the latest COCOMO II.2000 specifications available from USC and Dr. Boehm.

 

Cost Xpert costing models, features and functionality are described in Cost Xpert Help Files and Cost Xpert User Manual. For more info please visit: http://www.hallogram.com/costxpert/


When you, as a project manager, accept responsibility for a project, you accept the schedule, timeline, deadlines, resources, and expectations set out at the start. Now you can make sure you're asking the right questions for each project by utilizing the tools, checklists, and information from projectmanagementsurvival.

Now you can manage your risk project according to best practice standards. You'll have the details and plans in place to handle whatever arises during a project's duration—setting appropriate expectations for timelines, milestones, and deliverables. And, ensure success for each and every project with resources on:

  • Ensuring you have the necessary equipment and resources available
  • Properly documenting all project activities
  • Identifying staff skills by roles needed
  • Putting quality controls in place
  • Identifying and estimating indirect costs
  • Documenting and prioritizing requirements
  • And much more

Start and end each project on a positive note—order your Templates and Tool Kits for Project Managers today!

Explore the templates and toolkits HERE

  
   
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