Thursday, June 6, 2013

Estimating Project Costs


  The most challenging aspect of estimating the cost of an activity is time and money. For example, I was asked to assist with building a reading and writing workshop program. Initially, the concept seemed easy on paper. However, when it came to constructing the actual workshop money and time seemed easy on paper.  However, when it came to constructing the actual workshop money and time seemed to be the biggest problem. Some of the challenge was the amount of time to build a good program that addressed all the program objectives. Additionally a major hurdle is money.  The organization began with a specified amount allotted to this peculiar program. However, due to shifts in budget, money had to be removed from this project to assist with other revamped in order to stay with the new budget allocations. Here are two resources that would be helpful in estimating cost and resources:


   This website furnishes an assortment of beneficial information that is relevant to constructing a successful budget for a project. Some of the advantageous information in which it provides includes the rationale for a budget, an approximation of expense for training or specialized needs, expansion guide for e-learning or generating the program, and technology costs. It dissects the information based on the needs of the organizations and furnishes examples of potential costs so the project manager is able to budget. This site can be utilized to assist in designing the budget by providing some precise fees for labor, personnel charges, and cost for other essential needs. I would employ this site at the initial stages of the budget process in order to obtain particular figures that will allow me to develop a budget for a program or allow me to stay within the restrictions of a budget from an organization.

 


  This website provides an exceptional arrangement of procedures and instructions for delivering enhanced estimates. The information provided on this site ranges from illustrating a structure for augmenting the conventional methodology of approximating instructional design or development time to extending the customary industry typical proportions which comprise circumstances which have an elevated influence on the hours estimated. Other pertinent information that this site provides are graphics that allow the user to visually understand the tasks required for the project as well as differentiated tasks by simple or complex. I would use this site to assist with helping to develop a tasks chart for the team members of the project as well as estimating the amount of time that will be focused on each task.
References




 Chrystal

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