Friday 29 November 2013

Estimating Costs and Allocating Resources


         
Below are two links to websites which deal with project costs in a concise an easy to understand way.

How to Estimate Project Costs for Dummies

This is link to a page on the Project Management for Dummies book website. The page is very informative and gives a concise synopsis of the elements of project costs. The description on the page makes a very good attempt to explain why project costing is important, the difference between direct and indirect costs, followed by a breakdown of what the various costs entail. Below the synopsis is a list of other short articles on project costing that you can familiarize yourself with. You could buy the entire book, but I found the articles enlightening without needing to purchase the book. View the page at the link below:

Project Cost Estimation
This article approaches the discussion on project cost from the point of view of the Work Breakdown Structure or what the author calls “Product Breakdown Structure”. The article talks about standardizing costs across projects and to use a systematic understanding of the types of cost associated with feasibility, development, and deployment. I like the use of the cartoons to get down to the bottom line on costing philosophy. There are additional links to more readings on project costing. View the page at the link below:

 

 

5 comments:

  1. Hi Pat,
    I liked the link to the Project Management for Dummies articles. I like the way Dummies summarizes the information in a simple to understand format. For someone that is new to project management concepts and terms, this boiled-down version takes the information in our text and simplifies it further.

    Thanks again,
    Melissa

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  2. Thanks for sharing, Pat! I like how concise and to the point both sites are. I think it's helpful to have resources like that around, especially if you don't do a lot of project management and you perhaps only need a refresher here and there. These would be great for that! Also, I love the cartoon on the second site! Gotta love Dilbert. :-)
    Cheers,
    Lesley

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  3. Hey Pat,
    Thanks for the resources. Project Management for Dummies is a great summary breaking down how to estimate costs. I appreciate it in this format - a page that I can quickly reference and cross-check as I work on my project budget.

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  4. Pat,

    Great finds!! I had no idea there was a Project Management for Dummies book out there. I may have to check it out. I also enjoyed the Project Cost Estimation article. It was easy to read & understandable. I enjoyed the cartoons also.

    Cheryl

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  5. Pat

    Great resources. Loved the How to Estimate Project Costs for Dummies. Just what I needed. Sometimes you just need your hand held while someone walks you though how to do it and Project Cost for Dummies does it. Liked it so much I tagged the link as a favorite.

    I loved Martin Webster's use of the Dilbert cartoon to describe the budgeting process. Too funny and too sad that it is true! Very informative and enjoyed reading your post and the links to Webster's Blog and the Dummies site you posted.

    Mark Chamberlain

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