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To complete this next assignment, you will need to deduce and predict the needs of the project to a level sufficient for a clear understanding of the pricing and estimating process.
Identify 10-15 cost elements that can be directly associated to the project. The cost elements will be the driving force behind how you estimate costs. Your elements should be supported by research and application of concepts.
In a paper, measure and summarize the role of project pricing and estimating for your project. Include in your quantification the pricing process, labor distribution, pricing out work, and the low bidder dilemma. As you estimate and assess the various pricing and estimation processes, ensure that as many variables that can or could directly or indirectly impact the project have been identified and quantified.
Hint: Begin this assignment with a brainstorm. Spend some time listing all sources that should be included in your cost assessment and predictions. You may want to put your initial list aside while you complete your required readings and revisit it afterwards as new ideas and requirements may have come to mind while working through the week’s resources.
Support your paper with minimum of five (5) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
- Project Management: A Systems Approach to Planning, Scheduling, and Controlling.External Learning Tool
- Benta, D. (2011). On best practices for risk management in complex projects.Link
- Blevins, T., & Beall, J. (2007). Monitoring and control tools for implementing PAT.Link
- Films on Demand. (2006). Airline ticket pricing practices [Video file].
Length: 5-7 pages not including title and reference pages and supporting spreadsheet