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Module 3: Managing Scope, Schedule and Budget

Introduction

Delivering a project within the time frame promised (schedule), budget allocated (cost), and with all the bells and whistles (scope) are fundamental issues for all facets of organizational success and touch every aspect of the entity. Whether delivering a new building, software project, research program, or a nuclear submarine, all projects require constant monitoring and controlling to meet their objectives on time and within budget. 

By identifying early warning indicators, you will gain greater insight into potential risk areas and take the necessary corrective action to keep the project under control.

This lesson  provides a structured approach to project planning and management. This course goes beyond project management fundamentals and applies a variety of techniques to balance the competing demands of scope, schedule, and cost. It uses industry best practices to teach the latest tools and techniques. Learn how to establish the performance measurement baseline (PMB) and gain proficiency in the tools and techniques used to compare actual work accomplished against established plans. Determine how best to plan project scope based on stakeholder budget and schedule constraints. Be proactive and in control of your project by implementing cost and schedule management.

Connect and Learning activity: Games and simulations 

http://reuse.cos.ufrj.br/prometeus/publicacoes/SEKE04-AlexDantas.pdf

Read the article attached to this link above.

 

http://thatpmgame.com

Go to this second link and play the game.

This is designed to help you improve your capacity to analyze,plan and make decision about project management. 

All the instructions are located on the upper left side of the website. 

Assessment

 

To test your knowledge of project management, go to this website.

 

https://benchprep.com/pmp/pmp-prep-course/practice-questions/planning-the-project-scope-15

Summary

 

 

 

The integrated master schedule is the project’s road map to meet contract objectives. This schedule must be resource loaded to determine the budget for the work as scheduled. The resource loaded schedule is the basis for the monthly budget, or BCWS, for each task and thus the project. This time phased budget is the performance measurement baseline (PMB). The total budget for each task, control account, or the entire project is defined as the budget at complete (BAC). Because most projects are initiated with some level of uncertainty; i.e. risk, project managers typically set aside a portion of the total project value as a management reserve (MR). MR added to the BAC equals the total project budgeted value, defined as the contract budget base (CBB)..

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