Chapter 7 – Scheduling Resources and Budgets
7.1. Learning Outcomes
Learning Outcomes
By the end of this chapter, you should be able to:
- Define terms related to scheduling.
- Demonstrate how cost and time are summarized in a WBS.
- Demonstrate the process of decomposition and numbering used to create a WBS.
- Explain the difference between a deliverable and work package.
- Differentiate top-down estimation and bottom-up methods.
- Define basic terms such as budget, estimate, price, cost, and value.
- Discuss the relationship between cost and budget.
- Explain basic concepts related to budgeting.
- Identify different types of costs, and discuss issues related to contingency funds, profit, and cost estimating.
- Explain the benefits of contingencies.
Attribution
“5.1. Chapter Introduction” from Essentials of Project Management by Adam Farag is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.
