Project Management

Project Management Central

Please login or join to subscribe to this thread

Topics: Estimating, Work Breakdown Structures (WBS)
Estimating a rough order of magnitude


Hello experts, I am new on this board and this is my first post on here. I am glad to have come across such a wonderful forum for budding PMs like me who have a ton load of questions. So, a brief introduction about me - I have worked as a systems analyst for over 9 years and have decided to transition into Project management. After having cleared the PMP exam and a couple of other certifications (ITIL and Scrum Master) I am yet to land a PM job. So, that's briefly about me for now. On to the question(s) ... I am trying to wrap my head or at least visualize how a project manager functions in the first month or so. What kind of activities he/she will be hashing down at the beginning of the assignment. From what I gathered, the first thing to do is a project charter and after spending a few hours on Google, I have fairly understood looking at different templates that a PM will be drafting concise information about the project needs, recognizing the stake holders and at a high level, drafting any business requirements and other risks involved. As part of this activity, the PM will also need to provide a ROM (rough order of magnitude or a ballpark cost estimate). I dug some more on the internet and found a fairly decent template of cost estimation. For example, one template gives a detailed report of what kind of resources - man power, hardware or software and such, are required at different phases of the project. Now, is this how any project work? By that I mean, if I were hired as a PM for a health insurance company, would it be fair for me to ask the stake holders and the project sponsor questions like - I am going to need what kind of hardware equipment (based on the report from that link above) is needed for the project - I am going to need a list of project resources (with titles) used for developing this product - I am going to need a list of (yada yada yada) Is it normal for a PM to miss out on a few aspects while roughly estimating the cost? What if I forgot to include Firewalls or some kind of extraction tool that is required. Who can I solicit this information from? Assuming, I got all of the above parts covered. How would I factor in the time estimation (because as I understand it, the cost of effort is calculated based on the man hours) for each task. At the ROM phase, I may not have the complete picture of requirements that I can break down to WBS level. How do I give a number for the total man hours that are required to complete the work? I hope I have not bored with my questions and I sincerely hope that you guys will take my project management immaturity/inexperience into account while answering. Thank you a ton in advance! BA


Sort By:
Bumping post. Any response is greatly appreciated.
PM is not a card reader and so cannot plan everything for future. However, better planning will mitigate risk of future issues. For PM to do good planning, he first of all should know the stakeholders. Who does what and how their work will impact project. So once you know these stakeholders, you can involve them to plan in more efficient way. This way PM will minimize the chance of missing out on important stuff to be included in project planning. for e.g involve person from auditing team while planning this way the auditing person will give his inputs to plan more better for quality issues to be addressed in project.
Like wise the foremost job of the PM at the start of the project is to identify stakeholders.

Please login or join to reply

Content ID:
ADVERTISEMENTS

I have made good judgements in the past. I have made good judgements in the future.

- Dan

ADVERTISEMENT

Sponsors