Imagine that you are writing a scholarly paper for consumption by a new undergraduate student in the project management program. In your paper, explain the following:
Rules for cost and performance management – including a discussion of earned value measurement (EVM) techniques.
Earned Value Management – including three key dimensions for each work package.
Schedule Forecasts – including purpose and measurement during monitoring and controlling.
Cost estimates – including basis of estimates, vendor bid analysis, cost-benefit analysis, and cost of quality.
Budget – including cost baseline, management reserve, control accounts, contingency reserve, activity contingency reserve, and project funding requirements.
Procurement – including bidder conferences, proposal evaluation, advertising, seller selection, and agreements.