Project manager go about providing an accurate estimate

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Reference no: EM132721710 , Length: word count:800

Consider the following scenario:

Alpha Co. wants a project team to develop a database to collect and analyze marketing data. Executives delegate a project owner who, in consideration of the remaining budget for her business area and similar past projects, indicates a budget of no more than $50,000.

The project owner assigns a project manager and asks him to provide a time and budget estimate for the project, without indicating the maximum amount she has discussed with the executives. The intention of the project owner is to make adjustments to the project scope based on the known max budget and the precise bottom-up estimates.

How might the project manager go about providing an accurate estimate? What factors will he consider? What approach would you use if you were the PM?

Online discussions are included in this course to help you communicate your ideas to peers and gain insight from others, and to solidify your understanding of concepts presented. You are encouraged to present your ideas in a clear, concise, and respectful way; cite relevant sources when appropriate; respond thoughtfully and substantively to the ideas of three of your classmates; and moderate the discussion thread on your post.

Discussion Topic: List the top three things you discovered in your reading and research on what project mangers can do to facilitate high-performance teams. Tell us why you selected them.

Reference no: EM132721710

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