1) Identify what you thought was the one most important concept(s), method(s), and/or specific item that you felt was worthy of your understanding from the Key Terms on page 350. DO NOT select the following terms analogous estimating, parametric estimating or bottom-up estimating as these are included in the Problem Set. If you select one of the 49 processes you will need to go into depth about inputs, outputs and tools/techniques of that process.
2) Discuss in detail what the selected term means, how it is used and other pertinent information about the selected term including a specific example, application or case study from your own experience. Be specific; not vague or general.
3) Provide a detailed discussion of why you thought this selection is important and how it relates overall to budgeting projects.
Respond to the post of at least two peers, using 100 words minimum each.
Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.
Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review. Do not use lists or bullet points. This will result in substantial loss of points in the Substance section and the Requirements section.
Your initial posting should be completed by Thursday at 11:59 p.m. EST. All peer replies must be completed by Sunday at 11:59 p.m. EST.
Discussion 2: Describe analogous, parametric and bottom-up estimating, and briefly discuss the advantages and disadvantages of each method
The assignment is to answer the question provided above in essay form. This is to be in narrative form. Bullet points should not to be used. The paper should be at least 1.5 – 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to project management. This does not mean blogs or websites. This source should be a published article in a scholarly journal (Journal of Project Management) or a professional journal (such as PMI’s Project Management Journal). This source should provide substance and not just be mentioned briefly to fulfill this criteria.
The textbook should be utilized primarily to answer or address the problem set as presented above with the journal article providing additional information not available in the text. This could be a case study, example, scenario or other detail that adds to the information from the textbook. Do not use quotes. Do not insert excess line spacing. APA formatting and citiation should be used.