Cost Estimation
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A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. Cost estimation in project management is the process of forecasting the financial and other resources needed to complete a project within a defined scope. Once the project is in motion, the cost estimate is used to manage all of its affiliated costs in order to keep the project on budget.
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Course Content
- PPM Knowledge
- PMBOK
- CPM/PERT/PDM
- Introduction to MSP
- GUI
- Creation of new project
- Calendar Introduction
- Type of Calendar
- Making a Project or resource or Activity Calendar
- Assigning a Calendar to the projects and Gantt chart
- Time Scale adjustments Different kind of relationship between tasks
- Different methods of linking
- Estimating the project finish date
- Identifying the project critical path Float /Slack overview
- Introduction to WBS
- Define indent, Out dent, Show or Hide
- SubTask Define Outline Number Code
- Define WBS Code ,Assign code in Activity table
- Resource
- Define Resource
- Assign Task Type
- Resource Sheet Preparation
- Resource Analysis
- Resource Calendar
- Resource Leveling
- Planning Budget of the project
- Constraints ,Recurring Taske
- Updating Project (Tracking)
- Plan Vs Actual Data ,Creation of baseline,Types of Updating,
- Tracking Gantt Setting of Gridline for Project Start, finish and status date, Tracking Table View
- Generating Variance for Date, Duration & cost Earned Value Analysis
- Filter
- Group
- Sorting Task
- Custom Filter, Table
- Reports
- Tabular Report & Visual report
- Report Customization
- Multiple Project
- Resource Share
- Data Transfer
- Import /export
- Product Customization
- Doubt Session
- Project
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Construction cost estimating is the process of forecasting the cost of building a physical structure. Of course, builders and clients both worry about the financial impact of cost overruns and failing to complete a project. That’s why they devote time and effort to estimating how much a project will cost before deciding to move forward with it. Clients considering large projects often seek multiple cost estimates, including those prepared by contractors and those calculated by independent estimators.
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