The triple constraints for creating cost estimates include resources, time and money. What cost estimation approaches provide consistent triangulation of triple constraints for creating accurate estimates? Should different approaches be used for different types of projects?
For this Assignment, you will practice using Work Breakdown Structures (WBS) to create a cost estimate and model for building a new, state-of-the-art multimedia classroom for your organization. The timeline for this ficticious project is six months.
Your cost estimate and model for building a new, state-of-the-art multimedia classroom should include:
– 20 high-end personal computers with appropriate software for your organization
– A network server
– Internet access for all machines
– An instructor station
– A projection system
Include personnel costs associated with the project management for this project. Enumerate the assumptions you made in preparing the estimate. Provide explanations for key numbers.
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