Alpha Co. wants a project team to develop a database to collect and analyze marketing data. Executives delegate a project owner who, in consideration of the remaining budget for her business area and similar past projects, indicates a budget of no more than $50,000.
The project owner assigns a project manager and asks him to provide a time and budget estimate for the project, without indicating the maximum amount she has discussed with the executives. The intention of the project owner is to make adjustments to the project scope based on the known max budget and the precise bottom-up estimates.
How might the project manager go about providing an accurate estimate? What factors will he consider? What approach would you use if you were the PM?
Post your thoughts in a new thread in the discussion board and moderate it as others add to it. Thoughtfully, respectively, and substantively respond to the ideas of your peers.
Learners must participate in at least TWO of the four graded online discussion boards. Each are worth 5% of the final grade.