Project Estimating and Cost Management By Parviz F Rad

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Project Estimating and Cost Management By Parviz F Rad

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Table of Contents

Preface ………………………………………….. xi …

Acknowledgments ………………………………….. xlll
CHAPTER 1 Introduction ……………………………. 1
Project Scope and Objectives …………………… 2
Organizational Objectives ……………………… 5
Project Selection …………………………….6
CHAPTER 2 Deliverable-Oriented Work
Breakdown Structure …………………… 11
Work Breakdown Structure ……………………1 2
WBS Development Steps ……………………..1 3
The Division Bases …………………………. 13
Case Example: WBS for an Industrial Complex ……… 15
Comparison of the Different Bases ………………. 16
Process-Oriented Projects …………………….. 17
Organizational Priorities ……………………… 19
Semantics ……………………………….. 21
Changing the Paradigm ……………………… 22
CHAPTER 3 Resource Breakdown Structure ………….. 27
Nomenclature. Dimensions. and Units ……………. 28
Resource Breakdown Structure …………………. 29
RBS Development …………………………. 31
The Primary Division Basis …………………… 32
Lower-Level Division Bases with a Concentration
on Human Resources ……………………… 34
Estimating the Costs ………………………… 36
Detailed Example ………………………….. 38
CHAPTER 4 Estimating Models ……………………… 43
Accuracy ………………………………… 47
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PROJECT ESTIMATING A N D COST MANAGEMENT
Parametric Estimating ……………………….. 50
Modular Estimating ………………………. 50
Parametric Model ………………………… 51
Analogous Estimating ……………………….. 53
Ratio Estimating …………………………. 54
The Three-Quarters Rule …………………… 55
The Square Root Rule …………………….. 59
The Two-Thirds Rule ……………………… 61
Range Estimating ………………………….. 62
Expert Judgment ………………………….. 64
Normalization ……………………………. 64
CHAPTER 5 Progress Monitoring ……………………. 67
Developing a Monitoring Plan …………………. 70
Elements of Monitoring ……………………… 73
Earned Value …………………………….. 75
Productivity ……………………………… 78
CHAPTER 6 Cost Management ……………………… 81
Causes of Change ………………………….. 85
Feed-Forward Technique …………………….. 87
Impact of Schedule on Cost …………………… 88
Lifecycle Costs ……………………………. 94
Impact of Project Risk ………………………. 95
CHAPTER 7 External Projects ………………………. 99
Specifications ……………………………. 100
Contracts ………………………………. 102
Response to Specifications …………………… 106
Bidding …………………………… ;. … 108
Project Costs …………………………….. 110
Direct Costs …………………………… 110
Indirect Costs ………………………….. 110
Overhead …………………………….. 111
Allowance …………………………….. 111
Contingency …………………………… 112
Project Audit ……………………………. 112
Bibliography ……………………………………… 115
Index ………………………………………….. 117