BUSI 3309 Chapter Notes - Chapter 8: Project Network, Project Management Software, Cost Estimate

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Project network times are not a schedule until resources have been assigned. Cost estimate are not a budget until they have been time-phased. This process uses the resource schedule to assign time-phased cost that provide the project budget baseline. Resources are people, equipment, and material that can be drawn on to accomplish something: people this is the most obvious and important project resource. Human resources are usually classified by the skills they bring to the project: materials. Project material cover a large spectrum: for example, chemicals for a scientific project, concrete for a road project, survey data for a marketing project: equipment. Equipment is usually presented by type, size, and quantity. In some cases equipment can be interchanged to improve schedules, but this is not typical. (reserve equipment for each projects) Time-constrained project is one that must be completed by an imposed date. Resource-constrained project is one that assumes the level of resources available cannot be exceeded.

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