Choose one of the below options to write about: Option #1: If a team’s initial c
Choose one of the below options to write about:
If a team’s initial cost and schedule estimates identified in the Project Charter during the Initiating Process Phase are significantly lower than those later developed during the planning phase, what conclusions can you make about the validity of the estimates? How would you address this as part of your internal project lessons learned? Explain your responses.
What if you spot a trend which indicates that most projects are initially very optimistic in their cost and schedule estimates (during the Initiating Phase), and when they develop a bottom’s up estimate (during the Planning Phase), it tends to be much higher (i.e., greater than 10% )? What conclusions would you make about your organization’s internal project performance management systems, and what courses of actions would you take in future projects? Explain your responses.