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IT Project Cost Estimation & Control

This document outlines key strategies for cost estimation and control in software development projects, presented during the SPIN Meeting in Karachi on August 9, 2006. The agenda covers the software project life cycle, common challenges, tips, techniques, and best practices. It emphasizes the importance of thorough client engagement, team experience, and analysis of past projects to enhance estimation accuracy. It also discusses the benefits of structured project plans and regular review meetings to ensure effective cost management, ultimately guiding teams towards successful project execution.

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IT Project Cost Estimation & Control

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  1. IT Project Cost Estimation & Control SPIN Meeting BIMCS Karachi 9 August 2006

  2. Remember • Journey of a thousand miles begins with a single step • People going Nowhere usually reach there

  3. Agenda • The SW Project Life Cycle • The Problem • Common Tips & Techniques • References • Q & A

  4. SW Project Life Cycle • Pre-Project Brief Marketing Dev Mgr • DOU Marketing CEO • Resource Est. Dev Mgr CEO • Project Contract Marketing CEO

  5. SW Project Life Cycle • Project Plan PM Dev Mgr • SRS / etc. PM Cust. PM • Deliverables PM Cust. PM • Project reports PM Cust. PM • UAT PM Cust. PM • Project Appraisal PM CEO

  6. The Problem • How do you estimate the work when you do not know the problem? • Should you spend time in making a good estimate? • Should you make a poor estimate and qualify / cover up in the agreement? ……….not an exact science!

  7. Possible Solutions • Spend more time at the client, do a good study and make a solid estimate • Spend less time at the client but put the most experienced estimator on the job • ‘Pad’ all cost estimates ....Always pray that you are not high or low

  8. Common Practices • Best estimator on the job • Site visit is a must • Client situation analysis • Competition analysis

  9. Common Practices • Have we done this project before? • Has this team does this project before? • Platform and tools being used • Application Area • Client strengths and weaknesses • Project Manager being assigned …. MY - Function Points Analysis

  10. Cost Estimation Areas • SW Development Effort man-months • Special Tools, HW $ • Staff Training Costs $ • Travel $ • Other Costs $ …. MY Conversion of man-months to $ based on skill set being used

  11. Project Types • Product Certainty High / Low good users, good team • Process Certainty High / Low have done it before • Resource Certainty High / Low team will be available

  12. Project Types • REALIZATION HHH • ALLOCATION HHL • DESIGN HLH • EXPLORATION LLH

  13. Cost Control • A good project plan saves costs • Regular project review meetings with customer • Short but regular internal meetings • Good accountant • Good management reporting system

  14. A Road Map • Vision without Action is just a dream • Action without Vision is waste of time • But VISION WITH ACTION … you can change the world

  15. Information Sources • ISACA Website • Business Beam • IEEE. ORG • Professional Bodies • Trade Fairs

  16. Conclusion • Be the best in what ever you do • Learning should never stop • Patience and Perseverance

  17. If you can handle people you can rule the world

  18. Thank you For more information or other related articles and materials, please visit www.alivecv.com or contact us at alivecv@usa.net.

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