Assignment

Instructions

Based on the examples and content covered in class, develop a 2 to 3-page cost management plan for your project.

Formatting

• Style: Your plan can take a variety of forms (e.g., bullet points, short prose).
• Length: Your plan should be approximately 2-3 pages in length. Points will be deducted for papers that exceed the specified length (see rubric below for more details).

Only use the references in this class, no outside sources:

Chapter 3 (Key 7, pp. 261-284) – The 7 Keys to Project Leadership

Madsen, S. (2019). The 7 keys to project leadership. In The power of project leadership: 7 keys to help you transform from project manager to project leader (2nd ed., pp. 261284). Kogan Page.

Optimization of Time and Cost Through Learning Curve Analysis

Abdelkhalek, H. A., Hesham, S. R., & Azizab, R. F. (2020, December). Optimization of time and cost through learning curve analysisLinks to an external site.. Ain Shams Engineering Journal, 11(4), 1069-1082. https://doi.org/10.1016/j.asej.2019.12.007

Reality Check: Organizations and Project Leaders Can Take These Steps to Make Megaproject Cost Estimates More Accurate

Bodini, F. (2019, August 1). Reality check: Organizations and project leaders can take these steps to make megaproject cost estimates more accurateLinks to an external site.. PM Network, 33(8), 27. https://www.pmi.org/learning/library/reality-check-11683

How to Leverage Project Estimation Techniques

Everitt, J. (2022, April 27). How to leverage project estimation techniquesLinks to an external site.. Wrike. https://www.wrike.com/blog/project-estimation-techniques/

Control Capital Project Durationand Costwith Schedule Optimization

Garg, T., Pikul, P., Pretorius, C., & Pritchard, R. (2020). Control capital project durationand costwith schedule optimizationLinks to an external site.. McKinsey & Company. https://www.mckinsey.com/business-functions/operations/our-insights/control-capital-project-duration-and-cost-with-schedule-optimization

Creating a Project Budget A Complete Guide*

Forecast Team. (n.d.). Creating a project budget A complete guideLinks to an external site.. Forecast. https://www.forecast.app/ebook/project-budget-a-complete-guide

*Note: You may enter your information at the link above to download the reading for free, or you may access a PDF copy in your ARES coursepack, which is linked from the Course Readings page.

What Is Monte Carlo Analysis in Project Management?

Wrike. (2024, November 20). What Is Monte Carlo analysis in project management?Links to an external site. https://www.wrike.com/project-management-guide/faq/what-is-monte-carlo-analysis-in-project-management/