Accurate estimation is crucial for effective planning and control and is allocated with time, information, experience of estimator, methods employed and funding. Discuss and describe the three main kinds of Estimating Methodology.
The project lifecycle refers to a logical sequence of activities to achieve the project's goals and objectives. Regardless of the scope or complexity, any project goes through a series of phases throughout its life. Elaborate those phases in a project life cycle.
If project scope changes at various phases in life cycle, discuss on the level of effort, level of affect and cost of changes in project.
Risk has always been an intrinsic part of project management. With increasing market competition, technology, and globalisation, risk management is continuously gaining wider acceptance and importance and has become a must for project success. Discuss and describe the main components that are likely to be included in risk management system.
An effective project control is always suggested by experienced practitioners through a well disciplined system due to its beneficial effects such as managing expectations, reporting and monitoring performance. As a project manager, how would you apply project control, support your answer with instances.