Work Breakdown Structure (wbs)

Welcome to Week 1 of PM592 Project Cost and Schedule Control! The focus of this week is developing the Work Breakdown Structure (WBS) and preparing cost estimates. We will use the WBS to specifically detail the tasks required to complete any project. The WBS is the starting document which several other project documents, such as the budget and schedule, will be derived from. As one of the foundations to our planning effort, it is critical to know and understand this tool. Shortcomings in the WBS will translate to the rest of our planning documents resulting in real failures during project execution to attain goals in scope, cost, and schedule. It is, therefore, of primary importance that the WBS is inclusive and detailed. Just remember that as a project manager, your family comes first but the WBS is not far behind.

We will look at the methodology for developing the WBS and how it is used to construct the cost estimates for the various components of the project. We will cover cost estimating in detail and add a tool or two to your repertoire. The role management has in the estimating process is critical. We will talk about top-down and bottom-up processes for budgeting and how they are often used together to reach a final estimate. The project manager does not often control which process is used, but is typically responsible for the resulting project budget.

During Week 1, we will also take a quick look at the responsibility assignment matrix, or RAM. This is an excellent planning and communication tool that we need to understand how to develop and use.

The two threaded discussions this week will focus on the use of these tools for a given project scenario, as well as how these tools are applied (or not) in your workplace.

Although this is only Week 1, it is a good time to get a start on the course project.

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