PM 691 PU Impact of Cost & Time Management on A Project Discussion

Introduction

Analyze how cost management and time management principles impact the WBS.

Evaluate cost and time management concepts to the overall project to gain an understanding of how the new framework transforms their underlying knowledge of project management.

• Determine how to best coordinate with team members when there is differing opinions and gain an understanding of how to come to a consensus.
• Examine how additional work or unexpected events impact the project deliverables.
• Analyze peer competencies to understand the strengths and areas of opportunities for each member.
• Directions
• After reading and watching this week’s material, engage in an active discussion regarding how cost and time management impact the WBS. Review the following information and answer the following questions:

Cost and time management can impact many aspects of the project. One of the major deliverables that cost and time can impact is the WBS. In this week’s team work, your team will be reviewing the current cost and time estimates and updating the WBS with more realistic information based on feedback and comments from the professor and the other various team members. Discuss the potential items to review and if you think there are any major updates to the WBS after reviewing the time and cost management chapters. Do your thoughts differ from your teammates? Why and what will you do to resolve?