Work Breakdown Structure Review: The Deliverables You Identi

Work Breakdown Structurereview The Deliverables You Identified In Your

Review the deliverables you identified in your scope statement. Now think about the task required to complete each deliverable. Document them in a work breakdown structure. Be sure to watch the video on that topic. Prepare your Work Breakdown Structure after viewing the PowerPoint attached. It will explain how to complete a WBS, how to create task names, and the difference between duration and effort. You will need to open your MS Project file to a blank project. Also open your Work Breakdown Structure. You will copying that into MS Project, indenting deliverables and tasks as shown in the accompanying PowerPoint presentation, and then assigning duration estimates and work estimates for each task. You will then sequence the tasks and develop a resource sheet from which you will assign resources to each task. The end result will be a complete project schedule and a complete project budget. Discuss the Estimate Cost tools and techniques and how they’re used to derive cost estimates. Discuss when during the project life cycle the tools should be used and why.

Paper For Above instruction

Introduction

Effective project management hinges on meticulous planning and the systematic organization of project activities. The Work Breakdown Structure (WBS) is fundamental in this process, serving as a hierarchical decomposition of project deliverables and tasks. This paper explores the steps involved in reviewing and developing a WBS, integrating it into project scheduling using MS Project, and evaluating cost estimation tools and techniques. These processes collectively facilitate the creation of realistic project schedules and budgets, ensuring project success.

Reviewing Project Deliverables and Developing a WBS

The initial phase involves examining the deliverables outlined in the project scope statement. These deliverables are the tangible outcomes or outputs expected from the project. Once identified, the next step is to decompose each deliverable into smaller, manageable tasks that are necessary for their completion. This decomposition results in a Work Breakdown Structure, which visually and structurally maps the project’s scope.

To prepare an effective WBS, project managers often use templates such as the provided WBS Excel template or software tools like MS Project. The PowerPoint resource accompanying this assignment explains the importance of creating task names that are concise yet descriptive. It emphasizes the distinction between duration and effort; duration being the calendar time to complete a task, and effort representing the total work hours invested.

Creating a WBS requires careful consideration to ensure tasks are neither overly broad nor excessively detailed. The hierarchical structure involves indented levels, with major deliverables at the top level, followed by subordinate tasks and subtasks. This structured approach facilitates accurate scheduling, resource allocation, and cost estimation.

Utilizing MS Project to Implement the WBS

Once the WBS is developed, the next step involves translating it into a project schedule within MS Project. Starting with a blank project, the WBS elements are entered as tasks. These tasks are then indented to reflect hierarchical relationships, aligning with the structure of the WBS.

Duration estimates and work efforts are assigned to each task. Duration pertains to the total elapsed time needed to complete a task, while work effort indicates the number of labor hours required. Accurate estimation is critical for realistic scheduling. The PowerPoint on "Using MS Project" guides this process, illustrating how to assign durations and efforts effectively.

Sequence, or dependencies, between tasks are established to reflect the logical order of activities. Task dependencies can be finish-to-start, start-to-start, finish-to-finish, or start-to-finish, and influence the overall project timeline. After sequencing, a resource sheet is created where resources such as personnel, equipment, or materials are listed. Resources are allocated to tasks based on their availability and skill sets.

The final MS Project schedule presents a comprehensive view of project timelines, resource assignments, and workload distribution. This schedule serves as a baseline for tracking project progress and making adjustments as needed.

Cost Estimation: Tools and Techniques

Accurate cost estimation is vital for aligning project budgets with scope and schedule constraints. Cost estimates specify the anticipated financial resources required to complete project activities and are typically expressed in monetary units like dollars.

Various tools and techniques support cost estimation, including analogous estimating, parametric estimating, bottom-up estimating, and three-point estimating. Analogous estimating relies on historical data from similar projects, providing quick approximations. Parametric estimating uses mathematical models to forecast costs based on project parameters. Bottom-up estimating involves detailed analysis, assigning costs to individual tasks and aggregating them to derive the total estimate. Three-point estimating considers optimistic, pessimistic, and most likely scenarios to account for uncertainty.

These tools are most effective during different project phases. For example, analogous and parametric estimates are suitable during the early planning stages when less detailed information is available, enabling rapid approximation. As the project progresses and more detailed data emerges, bottom-up estimates become feasible, providing increased accuracy.

The project lifecycle determines when each tool should be employed. Initially, during the conceptual and feasibility phases, rapid estimates guide decision-making and resource planning. As planning advances, more precise estimates enhance budget accuracy and control. Cost estimation techniques also support risk management by identifying potential financial variances and enabling contingency planning.

Conclusion

Developing an effective Work Breakdown Structure, integrating it into project scheduling, and employing appropriate cost estimation tools constitute key elements of successful project management. The WBS ensures the scope is comprehensively broken down into manageable tasks, facilitating scheduling and resource allocation. Using MS Project translates this structure into actionable timelines, resource assignments, and budgets. Concurrently, understanding and applying suitable cost estimation techniques enables accurate budgeting, essential for project control and stakeholder confidence. Combining these methodologies promotes a structured, disciplined approach that supports project delivery on time and within budget.

References

1. Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
2. PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition. Project Management Institute.
3. Schliermann, T. (2010). The Work Breakdown Structure Handbook: A Guide to Creating and Using WBS. Project Management Institute.
4. Wysocki, R. K. (2014). Effective Project Management: Traditional, Agile, Extreme. Wiley.
5. Heldman, K. (2018). Project Management JumpStart. Wiley.
6. Mulcahy, R. (2018). PMP Exam Prep. RMC Publications.
7. Kinsey, B. (2020). Cost Estimation and Management. Journal of Construction Engineering and Management, 146(4), 04020023.
8. Gido, J., & Clements, J. (2019). Successful Project Management. Cengage Learning.
9. Heldman, K. (2018). PMP Exam Prep. Wiley.
10. DeMarco, T., & Lister, T. (2013). Peopleware: Productive Projects and Teams. Dorset House Publishing.