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Project Management

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Running head: PROJECT MANAGEMENT 1 Project Management Student’s Name Institutional Affiliation Date PROJECT MANAGEMENT 2 Why are accurate estimates, WBS critical to effective project management? Estimating is described as the forecasting of the cost and time it will take to complete the deliverables of the project. Accurate estimates, WBS (work breakdown structure) are critically significant for successful project management as in the absence of the accurate estimates, planning of the project will go completely wrong and it will not be easy for the project team to achieve the expected objectives in regard to costs, scope, and timeframe. There will be deficiency of resources, inadequate time and chaos during the project in case there is lack of accurate estimates in project management. Cost and time estimates are the critical inputs in project planning. Accurate estimates are as w ...
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Tags: PM598 Project Management Capstone

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