Practice Standard For Project Estimating

Project estimating plays a vital role in project management. Typically completed in the initial planning stages, accurate project estimation can be a difficult task. Organizations and project managers should use these initial estimates to baseline the project schedule and cost, then refine these estimates as the project develops. Accurate estimation and refinement of the estimates leads to better and earlier decision making, thus maximizing value.Developed within the framework of A Guide to the Project Management Body of Knowledge (PMBOK&® Guide) &– Sixth Edition and other PMI standards, the Practice Standard for Project Estimating &– Second Edition focuses on providing models for the project management profession in both plan-driven and change-driven adaptive (agile) life cycles. This practice standard describes the aspects of project estimating that are recognized as good practice on most projects most of the time and that are widely recognized and consistently applied.PMI practice standards describe processes, activities, constraints, inputs, and outputs for specific discipline subject areas and are targeted to all practitioners within projectized organizations, not just project managers.

"Developed within the framework of A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition and other PMI standards, the Practice Standard for Project Estimating - Second Edition focuses on providing models for the project management profession in both plan-driven and change-driven adaptive (agile) life cycles. This practice standard describes the aspects of project estimating that are recognized as good practice on most projects most of the time and that are widely recognized and consistently applied"--

"Developed within the framework of A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition and other PMI standards, the Practice Standard for Project Estimating - Second Edition focuses on providing models for the project management profession in both plan-driven and change-driven adaptive (agile) life cycles. This practice standard describes the aspects of project estimating that are recognized as good practice on most projects most of the time and that are widely recognized and consistently applied"--

The Work Breakdown Structure (WBS) serves as a guide for defining work as it relates to a specific project's objectives. This book supplies project managers and team members with direction for the preliminary development and the implementation of the WBS. Consistent with A Guide to the Project Management Body of Knowledge (PMBOK® Guide)-Sixth Edition, the WBS Practice Standard presents a standard application of the WBS as a project management tool. Throughout the book, the reader will learn what characteristics constitute a high-quality WBS and discover the substantial benefits of using the WBS in every-day, real-life situations.

Practice Standard for Scheduling—Third Edition provides the latest thinking regarding good and accepted practices in the area of scheduling for a project. This updated practice standard expounds on the information contained in Section 6 on Project Schedule Management of the PMBOK® Guide. In this new edition, you will learn to identify the elements of a good schedule model, its purpose, use, and benefits. You will also discover what is required to produce and maintain a good schedule model. Also included: a definition of schedule model; uses and benefits of the schedule model; definitions of key terms and steps for scheduling; detailed descriptions of scheduling components; guidance on the principles and concepts of schedule model creation and use; descriptions of schedule model principles and concepts; uses and applications of adaptive project management approaches, such as agile, in scheduling; guidance and information on generally accepted good practices; and more.

The only constant is change—especially in today's business environment. Increasing globalization and the rise of new markets and technologies are forcing companies to compete in a more turbulent world than ever. To survive and thrive, organizations must be able to continuously evolve. Unfortunately, people tend to resist change. Uncertainty can be daunting, and people generally prefer to keep doing what they already know, avoiding unfamiliar situations, particularly in their work. The good news is that change can be managed using the same processes many organizations already use in their day-to-day project management activities. After all, every project results in some type of change to an organization. Building on the Project Management Institute's Managing Change in Organizations: A Practice Guide, and drawing on the project management expertise of a wide variety of authors, How Successful Organizations Implement Change explains the critical aspects of the change management process and outlines the methods that project, program, and portfolio managers can utilize to bring effective change in a complex and transient business context. For practitioners who are directly leading the change effort as well as those affected by it; for executives formulating strategies, even those managing operations; and for academics researching or teaching others about organizational change management, the examples provided in this book cover a broad range of industries and areas of business. How Successful Organizations Implement Change combines the change management knowledge of experts, academics, researchers, and practitioners with tools, processes, and templates, all of which make this volume a valuable resource, a must-have, for leaders of change in organizations.

Exploring the methodology and overall strategy of project cost estimating, this book provides an introduction to statistics and databases, illustrating how they can help the cost estimator. The book offers an interactive approach where the reader is encouraged to participate in a series of CD or dice exercises to create a thorough understanding of the concepts involved.

Estimating isn't always an easy job. Sometimes snap decisions can produce negative long-term effects. This book was designed by the American Society of Professional Estimators as a set of standards to guide professional estimators. It's intended to help every estimator develop estimates that are uniform and verifiable. Every step that should be included in the estimate is listed, as well as aspects in the plans to consider when estimating a job and what you should look for that may not be included. The result should help you produce more consistently accurate estimates.