Project Estimating and Cost Management (Project Management Essential Library) Review

Project Estimating and Cost Management
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(More customer reviews)
At 136 pages this book covers a wide array of important topics and techniques in depth. The main value of the approach the author provides is that it's both effective and consistent with best practices in project estimating.
In particular, the deliverables-based work breakdown structure approach that forms the foundation of the estimating process is one that I've been using for over a decade, and is the only sane basis, in my opinion, for establishing estimating relationships between what the project is supposed to produce, and what it takes to produce it.
I'm continually surprised by the large number of project managers, including PMPs, who don't use deliverables-based WBS.I'm not surprised, however, by the wide disparity between estimates and actuals when this method is not used.For this reason alone the book is invaluable, but there is even more that makes this book essential to any project manager.For example, the resource breakdown structure approach (also known as the organizational breakdown structure), and how it relates to the WBS is not only essential to accurate project planning and estimating, but is also an integral part of earned value project management (now a part of the PMI PMBOK).I especially liked the chapter on estimating models, which will provide project managers with proven tools and techniques, and the chapter on external projects.
Overall, this book should be on the desk of every project manager during the planning and estimating phase, and carefully followed.I also recommend using this book with Earned Value Project Management, 2nd Edition by Quentin W. Fleming and Joel M. Koppelman.

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Product Description:
Improve the accuracy of project estimates and make better in-progress modifications by following the discipline-independent approach mapped out in this book. Learn the best ways to apply new tools, including a breakdown structure for both work and resources and proven estimating models. In addition, you'll gain insights into best practices for progress monitoring and cost management, as well as for dealing effectively with external projects.

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