PM 6008-8 – Analyze Project Pricing to Create Estimations for a Project

Project Pricing, Estimating, and Cost ControlIn this section, you as the project manager will be building an initial knowledge base of the project cost profile through the application of cost estimating and pricing techniques. You will also work to gain experience with pricing, estimating, and cost control techniques to be utilized. An evaluation of these techniques will also be completed in order to identify any potential issues with the project’s financial profile.After completing the readings and assignments in this section you should be able to do the following:Learning Outcomes: 2, 32. Analyze the role of project pricing and estimating in project management.3. Investigate cost control and schedule variance in project scope planning.Week 2:Week Introduction:Analyze Project Pricing to Create Estimations for a ProjectOnce the project scope statement has been developed by the project manager and approved by the stakeholders, the next process step is the categorization and calculation of the costs associated with the project work to be accomplished.1. Review the resources listed in the Books and Resources area below to prepare for this week’s assignments.2. Complete the following Spotlight on Skills if you need assistance with the tools used to complete your assignments.Spotlight on Skills: APA Form and StyleThroughout this course and others here at Northcentral University, you are required to follow APA form and style when preparing assignments. If you are unfamiliar with APA form and style, take this tutorial: The Basics of APA Style. Are you already familiar with APA form and style? Keep up with the 2010 changes by taking this tutorial: What’s New in the Sixth Edition. Check out this blog for deeper discussions and examples: APA Style Blog. You can also visit: Frequently Asked Questions about APA Style.Books & Resources:BookKerzner, H. 2009 Project management: A systems approach to planning, scheduling, and controlling.Instruction:Read Chapter 14 (14.1-14.6).Document/OtherFilms Media Group. (2008). Errors in Value: Comparing with the Past. http://proxy1.ncu.edu/login?://digital.films.com/PortalPlaylists.aspx?&&Instruction:View VideoFilms Media Group. (2008). Expected Value = Odds of Gain x Value of Gain. http://proxy1.ncu.edu/login?://digital.films.com/PortalPlaylists.aspx?&&Instruction:View VideoFilms Media Group. (2009). Pricing in Action. http://proxy1.ncu.edu/login?://digital.films.com/PortalPlaylists.aspx?&&Instruction:View VideoAssignment: Analyze Project Pricing to Create Estimations for a Project (10 Points) Due: 05/15/2016Instructions:Develop a paper that will analyze the role of project pricing and estimating for your selected project. Include in your analysis the pricing process, labor distribution, pricing out work, and the low bidder dilemma. As you analyze and assess the various pricing and estimation processes, ensure you identify and evaluate as many variables that can/could directly or indirectly impact the project. Provide 5-9 specific examples of pricing and estimating where applicable with regards to your project. These examples should be directly connected to the project.If you have the opportunity, discuss this assignment with a project manager. Keep in mind that your project type and scope will be a cornerstone for the estimations and pricing of your project. Research the industry and target marketplace to acquire figures that truly represent your project’s estimated costs.Support your paper with a minimum of three (3) external resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.Length: 5-7 pages not including title and reference pagesYour paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.