Thursday, May 31, 2012

Estimating Costs and Allocating Resources

Untitled Document

http://office.microsoft.com/en-us/project-help/estimate-activity-duration-HA001139963.aspx

This article is a great resource. For those of us who do not know how to create a project schedule, or are currently learning the details of project management the article guides you through the process. It explains how to determine the Work Breakdown Structure (WBS). These directions are simple to follow. For me, it takes away the fear of learning project management. It is very simple for the first-time learner of project management and creating project schedules.

http://www.techrepublic.com/article/use-this-process-to-estimate-effort-hours/614248

In this article Tim Mochal explains the process to estimate the total effort required for a project. He states that there are three early estimates that are needed for a project--effort, duration, and cost. Of the three, effort hours must be estimated first. This information is helpful for me and perhaps to you also since project management might be new to most of us. I would not have considered effort in planning a work schedule neither did I know it was determined in hours and it should be estimated first.

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