1. During the start-up phase, the first estimate of the cost of the project is called the
conceptual estimate or ballpark estimate.
2. Shortening the schedule to meet the project completion date is called crashing the
3. Important of getting the Stakeholders in a Project to Sign the Scope Statement
The scope statement gives a description of the project scope. The scope illustrates the work that has to be accomplished by the end of the project for the project to record success. The approach divides a project into stages that are manageable and controllable. The project scope defines strategies for effective planning, communication to stakeholders, risk management, evaluation and project monitoring aids in the successful implementation of projects.
The project scope helps the project manager to keep project activities on track and ensures all stakeholders are involved in project planning and implementation. Further, the scope facilitates the project manager in the administration and monitoring that helps answer the questions whether project activities are progressing as planned in addition to determining whether project deliverables are guiding the project progress as projected.
Additionally, the scope statement enables the project manager to monitor and evaluate the project progress in terms of time frame, money, risks, and quality. Embracing a scope statement is crucial in risk management. It enables the project manager to identify risks that may hinder effective project progress and successful project completion to set up mitigation measures.
The scope statement helps in setting up the acceptance criteria. It helps define the criteria of determining shareholders, project activities, timeframe, and resources that will be employed to ensure project success. Further, the scope statement elucidates the project deliverables. It helps outline the objectives of the project and their importance in ensuring the success of the project.
It is important to involve the stakeholders in a project to sign the scope statement because it indicates the project exclusions and constraints. For instance, the project manager should address all constraints originating from the WHS Act and the ant-discrimination legislation.
The scope statement facilitates making of assumptions. The project manager will make an assumption that the project deliverables will be achieved within schedule. Further, the project sponsor will fund the project and ensure that funds are released on time in order for suppliers to be paid. It will also be assumed that the project sponsor will make fast responses to release funds in cases of additional budgetary allocations.
Further, it will be assumed that weekly project update reports will be done to all stakeholders via project website, mail, and meetings where they will be informed about the progress status of the project. The details that will be contained in the project status report include completed project phases, milestones, and project activities.
4. What is the Difference between a Milestone Schedule and a Work Breakdown Schedule?
The milestone schedule indicates the key dates of the whole project that have to be realized if the project will be accomplished on time. The dates are aimed at reflecting the progress of the projected ingrained on the schedule. A milestone schedule is applicable in less complex project. On the other hand, a work breakdown schedule is applicable in more complex projects. It gives a description of the organized and detailed project tasks. The work breakdown structure constitutes and clarifies all the project deliverables.