A project should have a useful purpose. Thus, as a project is measured, the team must verify the requirements of local community and industry. These requirements are frequently categorized as needs, wants and luxuries. Make these three (3) categories.
Throughout the beginning stages of the project, the project manager frequently prepares initial costs required to complete a given item in the project and estimates for time. Costs are normally subdivided in variety of categories. In brief illustrate the following categories:
• Fixed Costs
• Variable Costs
• Direct Costs
• Overhead Costs and Rates
• Indirect Costs
One activity of study phase is: “Establish Ground Rules for Study and Design Phases”.
(a) What do you understand by the term ground rules?
(b) When developing ground rules for the product, it is significant to agree in advance on product’s attributes. What should the attributes of the product comprise?
(c) When should ground rules be conventional?