Cost is estimated as a task item at the lower level and then it is aggregated to the higher level in the WBS.
 |
| Cost of Aggregation |
Process Group | Knowledge Area | Activity |
Planning | Project Cost Mgmt. | Determine Budget |
Kailash B is a project management expert. He is passionate about helping people to excel in project and product management, become PMP certified, and progress in their management careers.
Description Cultural Awareness It is an interpersonal and team skill. It facilitates knowing and accepting the differences between people, groups, and organizations, and adapting to them through an effective communication strategy. It belongs to the tool category – Interpersonal and team skills Where it is Used Process Groups PlanningExecutingMonitoring & Controlling Knowledge Areas Project Communications Mgmt.Project Stakeholder Mgmt. Activities Plan Communications ManagementManage…
Description Used to elicit product requirements, this method uses people to choose one of many alternatives. It is decided on the basis of unanimity (everyone agrees), a majority (more than 50% people agree), or plurality (most people agree). It belongs to the tool category – Decision making Where it is Used Process Groups This tool is used…
Description Flowchart It is a stepwise pictorial presentation of inputs, activities, decision points, loops, and outputs. It belongs to the tool category – Data representation Where it is Used Process Groups PlanningExecuting Knowledge Areas Project Quality Mgmt. Activities Plan Quality ManagementManage Quality Process Group Knowledge Area Activity Planning Project Quality Mgmt. Plan Quality Management Executing Manage Quality Kailash B, MBA, PMP®Copyrights Reserved…
Description It is a visual presentation of a large amount of data in an organization and it is technology agnostic. It shows the organization’s key entities, their attributes, and the underlying relationships among the entities. It belongs to the tool category – Data representation Logical Data Model Where it is Used Process Groups Planning Knowledge Areas Project Quality Mgmt. Activities Plan…
Description Bidder conferences are an essential part of the project management process, providing an opportunity for potential contractors to learn about the project requirements and ask questions of the project team. The PMBOK® Guide provides guidance on how to run a successful bidder conference, from developing the agenda to conducting the meeting itself. Bidder conferences can be a…
Description Critical Path Method It is the method used to determine the flexibility of a schedule and estimate the minimum duration of a project. It is an independently-used project management tool. Where it is Used Process Groups PlanningMonitoring & Controlling Knowledge Areas Project Schedule Mgmt. Activities Develop ScheduleControl Schedule Process Group Knowledge Area Activity Planning Project Schedule Mgmt. Develop Schedule Monitoring & Controlling…
