Compare the concepts of pricing and estimating for project management

Compare the concepts of pricing and estimating for project management

 

Compare the concepts of pricing and estimating for project management. A case learning is a method of applying theory to sound practical real-world applications. Each selected case provides a description of a problem situation taken from a specific company. The purpose of each case is to augment the course content with applications that enable the CalSouthern Learner to apply text materials to a problem and solve that application problem using Learner selected methods and procedures.

 

Is there a distinct difference between cost estimating and pricing?

Case Studies are a valuable learning tool from several perspectives.  They give the student a formal workout in:

  • Diagnosing a company’s situation.
  • Evaluating what problems/issues need to be addressed.
  • Deciding what analysis to conduct.
  • Applying the concepts and tools in the text chapters in a careful and thorough fashion.
  • Evaluating the pros and cons of various action alternatives.
  • Putting your thoughts in writing

    Answer the questions at the end of the case.  They will focus you on the issues.  Adhere to the following guidelines:

The end result should be four paragraphs:
1.    Summary of the existing facts
2.    Issues/Problem Identification
3.    Analysis/Evaluation
4.    Recommendations.

 

What are the different types of estimates in project management?

Your responses must be complete, using terminology and concepts presented in the primary textbook as well as supplementary resources.  Each section should be written in complete sentences with attention paid to good grammar and spelling.    Remember to reference all work cited or quoted by the text authors. You should be doing this often in your responses.

 

What are the three basic types of cost estimating?

 

Using the Case Study format found in the syllabus, Analyze the “Kombs Engineering” starting on page 31 of the Project Management Case Studies textbook by Kerzner.  In addition, please answer the questions at the end of the case.  The content of the paper (excluding title page and references) should be 5 pages.

Activity Outcomes

  1. Explain what is procurement and the various cycles associated with this concept.
  2. Compare the concepts of pricing and estimating for project management.
  3. Exhibit how pricing and estimating impacts contracts.