Answered You can buy a ready-made answer or pick a professional tutor to order an original one.

QUESTION

Applying the Learning Curve Theory to a Project Time and cost estimates are important to project management for the following reasons: Estimates are key inputs to project planning and control.Estimate

Applying the Learning Curve Theory to a Project Time and cost estimates are important to project management for the following reasons: Estimates are key inputs to project planning and control.Estimate

Applying the Learning Curve Theory to a Project

Time and cost estimates are important to project management for the following reasons:

  • Estimates are key inputs to project planning and control.
  • Estimates support good decisions.
  • Estimates are used to determine project duration and cost.
  • Estimates are used to develop time-phased budgets and establish the project baseline.
  • Without estimates you have inaccuracies, which result in time and cost under/overruns.

Most project tasks are unique and require the project manager to estimate duration/cost for each and every task separately; however, projects may also have repetitive tasks completed by the human resources assigned to the project. To estimate the labor hours/cost for these tasks the project manager may use an estimating technique that relies on learning curve theory to estimate the time and/or cost for completing repetitive tasks.

In this assignment, you will:

Task #1. Define and thoroughly discuss the Learning Curve Theory and how it applies to project management.

Task #2. Explain how you would apply the principles of the Learning Curve Theory to a real project in which you are familiar (as a project manager, team member, or one that you have read about in current events).

Task #3. Complete the following exercise on learning curves (see Page 2 of this assignment).

EXERCISE: Using the concept of Learning Curves for Estimating consider the following scenario and respond to each question (all work should be shown in your Word document):

Show more
Kaanguru95
Kaanguru95
  • @
  • 34 orders completed
ANSWER

Tutor has posted answer for $25.00. See answer's preview

$25.00

* The learning curve ****** ** * method **** ****** project ******** ** **** *** ********** ** **** ** educated ***** *** **** *** **** ** * ******* ** **** helps the employee to ****** **** ******** ** *** **** ****** ** ***** ** ****** ***** ****** time is ****** ** ******** the *** than before in *** *** **** ******* ** **** *** ******* *** estimate *** **** *** ******** *** ******** *** **** ***** hence ******** them ** understand the ****** ** ********* ****** for *** **** ** ** completed * learning ***** ** **** useful **** ****** applied correctly ** ******* ********** because it *** minimize on **** *** ********** a **** it *** **** ****** *** amount ** the resources ****** *** task therefore ********* the managerial ****** *** *** *********** ******** ***** theory is *** **** of ********* **** is widely **** *** **** ******* ** * ********* ******* **** business ******** ******** as ********* below;1 *** learning ***** ****** ** a ****** **** ****** project managers ** have *** ********** ** **** an educated ***** the **** per **** of * project ** **** ***** *** ******** ** ****** **** adjusted ** the **** ****** is doing so ****** ***** ****** time ** needed ** ******** the job **** before ** the *** unit Because ** **** *** ******* *** ******** *** **** *** employee *** ******** *** **** ***** ***** allowing them ** understand *** ****** ** ********* ****** *** *** **** to be ********* A ******** ***** ** very useful **** it’s ******* ********* ** ******* management ******* it *** minimize ** time *** completing * task ** *** **** ****** *** ****** ** the ********* ****** *** **** therefore improving *** ********** ****** for the *********** ******** ***** ****** ** *** **** of ********* **** ** ****** used and **** ******* ** * real-life ******* **** ******** ******** ******** ** ********* ********

Click here to download attached files: ACCOUNTING 1.edited.docx
or Buy custom answer
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question