Is the CAMMP Model a modified version of the PMBOK Guide or ISO 21500? We all know that the PMBOK Guide and ISO 21500, at least the versions that are currently active, focus on processes, process groups, and functions. Functions is the SUKAD Way term. It is equivalent to Knowledge Areas per the PMBOK Guide and Subject Areas per ISO 21500. The process groups of both guides are the process groups to manage a phase of the project. Once again, the process groups are NOT for the whole project; unless we have tiny projects. This is a common misunderstanding of these guides. The misunderstanding is where some practitioners think that the process groups are project phases. However, they are not, they repeat in every phase or stage.Continue reading
The question that we address today is how to develop good cost estimates? We will present our views via four videos on cost estimating, that would address topics like, what are the components of a good estimate, what is the difference between estimating techniques and estimate classifications, and how to estimate contingency reserve. In addition, we will also highlight the relationship between scope definition, uncertainty, contingency, and estimate accuracy. One more statement/question here, do you realize that if the project manager is developing the cost estimate, that could be a conflict of interest?
You can probably claim 2 PDU for this article if you watch all of the videos. Assuming, you need PDUs.
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