SUPPLY CHAIN MANAGEMENT PLAN

Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide). Sixth edition. Newtown Square, PA: Author.
Part 1: A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
Chapter 2, “Project Cost Management” Section 7.2, “Estimate Costs” (pp. 240–247) Section 7.3, “Determine Budget” (pp. 248–256)
These sections of the PMBOK (PMBOK® Guide) cover the process for estimating project costs that will lead to the development of the project budget.
Chapter 2, “Project Cost Management” Section 7.2, “Estimate Costs” (pp. 240–247) Section 7.3, “Determine Budget” (pp. 248–256)
Required Media
Waters, B., (© 2018) Using the bottom-up technique to estimate costs. Available from Skillsoft. https://laureate.skillport.com/skillportfe/main.action?path=summary/COURSE_TOPIC/apj_20_a01_bs_enus_t20
Waters, B., (© 2018) Tools and techniques of estimate costs. Available from Skillsoft. https://laureate.skillport.com/skillportfe/main.action?path=summary/COURSE_TOPIC/apj_20_a01_bs_enus_t16
Resource planning is a way to identify, quantify, and document the resource requirements for a project. This includes all of the human and non-human resources, such as materials and equipment, which will be needed to produce the project deliverables. The resource requirements are key inputs to performing cost estimating. The primary source for deriving this information is the WBS. Supplementary sources can include the scope statement and/or historical information from other, similar projects. The project budget, which represents funding requirements for a period of time, is derived from the project cost estimates.
Question Section A In general, how accurate are project cost estimates? What tools/techniques can be used to ensure the greatest level of accuracy? Why is it important to review project costs throughout the life of a project? What is a basis of estimates, and how is it used in project cost management? Element for grading this assignment, Element 1a: Initial Post – Project Cost Estimate Accuracy, Element 1b: Initial Post – Project Cost Estimate Tools and Techniques, Element 1c: Initial Post – Importance of Monitoring Project Costs, Element 1d: Initial Post – Basis of Estimates
Section B This week, you will complete Part 4 of the Final Project, a plan for integrating a new supplier into the supply chain at Johnson & Johnson (J&J).