Week 5: Cost Estimation Help and All...


I am NOT a numbers person.  Well, let me be honest, yes I handle the payment of all my household bills, and yes I am the one who carries the checkbook, and yes I typically make most if not all purchases in my household, and while we do adhere to a budget, it is a rather loose and casual approach that works for our household.  I have no problem calculating the taxes when the waiter leaves the bill, in fact I live for a discount for any and all services and purchases that I make on a daily basis - nothing is worse than going to the mall with a particular coupon or discount in mind, getting in line and then checking out, just as your realize that you do not have that coupon or the coupon code to get that additional 25% off your purchase.  Now while that is pretty simple math, thinking about budgeting a project and all the intriciate details that go along with doing so honestly make me nervous.  I worked for an accounting firm for several years, but I was IT audit and not financial audit for a reason - financial and budgeting things are intriguing to me, but are not my particular forte. For this assignment I have combed the web for some help to get me on the right track for budgeting because I know it will be an assignment and task that I should master if I want to feel confident in the PM realm of business.  The first site that I referenced is:
http://woork.blogspot.com/2009/02/simple-process-to-estimate-time-and.html

This particular website initially seemed simple, but the more I read, the more I seemed to feel like I could grasp the concepts, part in due to the visuals that are provided.  I guess that tells me that I am indeed a visual learner rather than auditory.  The example provided is a simple process to estimate times and cost in a web project.  As an ID what better way to get a sense on how to make projections web-based, potentially training type of projects. It appears that the website owner is a web designer and web developer who wants to share his experience and knowledge about the time and cost involved in a web-based project.  What I found to be most helpful about this site is the fact that he does not just list all aspects of the project in bullet points or on a mind-map, but he actually categorizes and provides details for each stage of the project.  Those categories include: Process main phases; Define activities; define tasks and some subtopics for that. He also includes Defining HR, and a section on assigning specific tasks to HR personnel. This site although it appears simple, provides a great visual of the different sections of a project that can be used almost by anyone.

The second site that I referenced was:
http://www.cs.odu.edu/~cs410/costing.htm

Now, this site reminds me of a very vanilla bowl of ice cream.  It has no graphs, no charts, no color, is very black and white and to the point of the Project Cost Estimation and The Problem.  It does contain bullet points that are organized by telling the reader who the PM is, what their job is, and what the problem is that they will be addressing. It goes on with details that are spelled out using text only to make a point about PM and how to cost estimate and budget for a very general project.  This site is indeed my second choice to the first site mentioned above.