...The digitization project is being launched with 2,000 high-quality images on March 19, 2012. The project will continue throughout 2012. Over 80,000 records of documents held in original and as copies in the Albert Einstein Archives at the Hebrew University (AEA) and at the Einstein Papers Project at Caltech (EPP) can now be accessed with a user-friendly interface via the internet. The system offers easy navigation, displaying the search results and additional information such as filters, related topics and similar items. Some of the digitized documents are accompanied by annotated transcriptions and translations, as edited by the EPP and published in the Collected Papers of Albert Einstein by Princeton University Press (PUP). These documents are searchable as full text. The Albert Einstein Archives include scientific writings and correspondence, non-scientific writings and correspondence, family letters and travel diaries. Einstein Archives Online presents images of Einstein's handwritten manuscripts; it includes correspondence, typewritten manuscripts, photos, audio material, etc. A word about the sponsors The newly launched digitization project is funded by The Polonsky Foundation UK. Through this foundation, Dr. Polonsky has initiated similar enterprises, such as the digitization of the writings of Sir Isaac Newton at the University of Cambridge. The www.alberteinstein.info website was launched in 2003 by the Albert Einstein Archives...
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...Risk Analysis Estimating Methods - Scheduling Risks As Applied to the Panama Canal Case Study 11/8/2010 Kendrick argues that establishing project planning is a necessary key requirement of managing project schedule risk (2009, p.334). Regardless of how thoroughly a project manager works to ensure that a project’s schedule is accurate, he or she cannot fully control the inevitable and random influences that may negatively impact their project schedule. Equipment failures, nature, and sick employees are just a few of the uncontrollable factors that may jointly cause a project manager to miss their project’s target date. In preparation for these risks, a project manager needs discipline to devise an appropriate, risk-controlled project schedule. These Kendrick states that scheduling risks fall into three categories (2009, p.71): * Delays - Usually caused by material delivery and availability issues. * Estimates - Minimize this risk by using better estimation procedures. * Dependencies - When one project depends on other projects or systems, a failure or delay in any area can cause a domino effect. Risk Identification is the process of documenting risks that threaten a project and determining which of those risk have the potential to cause the most impact it. The act approximating the degree of impact a risk may have on a project schedule is referred to as estimating. This paper discuses two tools or techniques of estimating scheduling risks used to predict...
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...Project Estimating Technique Paper By: Efrain Gonzalez Jr. CPMGT/303 October 6, 2014 Chanda Sanders This paper describes each of the project estimating techniques by explaining when each technique would be used, and how each technique is used. The information being explained provides sources of information that is needed to figure out the most appropriate technique for a project. When justifying an estimate there are certain tools you could use that will help one justify an estimate correctly, and the information being provide explains what tools will be used to justify estimates. Project estimating techniques and tools are important aspects needed to achieve the goal and objective of a project. An analogous estimation is a very common estimation technique used to estimate activities within a project through previous experiences with different projects and extrapolates onto the current project at hand. This technique is mainly used for projects that have the same type of work, and the same resources being used between projects. Parametric model estimation is another precise, easy, accurate technique that is used to estimate time, and resources needed within a project to perform activities. The use of this technique is created upon historical experiences, and lessons learned on different projects. The three point estimation techniques is used to clarify and understand levels of uncertainty within an estimation through the use of three sets of assumption that are all different...
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...Project Estimating Paper Introduction Projects are different form one project to another. The most challenging job a project manager will have is properly estimating time, and cost because of the uncertainty of variables of each project. Using the correct technique and tools to deal with the certainty, or uncertainty of a project is important to give an accurate estimate. Using the proper technique and tools, a project manager can deal with the challenges of estimating time, and cost to give an accurate estimate. Dealing with uncertain variables that challenge a project will give the project a successful outcome. When and How Techniques Are Used Expert Judgment is using a subject matter expert that provides estimates into the estimating based on expert experience in the subject. An expert judgment is most important when estimates are dependent on an unknown variable. This is where acquiring the expert to fill in the variables with knowledge from experience is necessary. Analogous estimating is used when costs from a previous project inputted can save time on estimating with the variations of know differences from past projects. This is important on known stable projects similar in use. Analogous analysis will make adjustments for variables known (PMI, 2008). Parametric Estimating can be used in small segments, or the complete project. This form of estimating relies on calculations using historical information and known variables...
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...Assume you are the project manager for a new business venture. This venture will require financing, but once completed, will generate revenue and, eventually, a profit over cost. For CP-1, you are to write a Project Proposal with enough detail to convince investors to finance your idea. This Project Proposal will require detailed cost and revenue estimates and a credible schedule to win investor support. Select a venture of personal interest. Read the Proposal Requirements below to help you select a suitable idea. For example, select a venture where you can identify realistic cost and scheduling concerns. Opening a small retail storefront or a franchise is one example. Do NOT propose building a house, because investors typically already have financing before beginning such a project. When selecting your project, keep in mind the goal of CP-1 is to apply the techniques introduced during the course. Focus on detailed cost estimating, scheduling, and project justification. Estimating includes specific assumptions made during the estimating process, as well as quantities, unit prices, hourly rates for tasks, and accumulated totals. Justification will include an NPV analysis of costs vs. projected detailed revenue streams over a five year period with cash inflows and outflows over the project life. Start-up and other costs, and revenue streams, should be derived from detailed project cost estimates and sales forecasts. When you establish your financial data you must be reasonable...
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...Assume you are the project manager for a new business venture. This venture will require financing, but once completed, will generate revenue and, eventually, a profit over cost. For CP-1, you are to write a Project Proposal with enough detail to convince investors to finance your idea. This Project Proposal will require detailed cost and revenue estimates and a credible schedule to win investor support. Select a venture of personal interest. Read the Proposal Requirements below to help you select a suitable idea. For example, select a venture where you can identify realistic cost and scheduling concerns. Opening a small retail storefront or a franchise is one example. Do NOT propose building a house, because investors typically already have financing before beginning such a project. When selecting your project, keep in mind the goal of CP-1 is to apply the techniques introduced during the course. Focus on detailed cost estimating, scheduling, and project justification. Estimating includes specific assumptions made during the estimating process, as well as quantities, unit prices, hourly rates for tasks, and accumulated totals. Justification will include an NPV analysis of costs vs. projected detailed revenue streams over a five year period with cash inflows and outflows over the project life. Start-up and other costs, and revenue streams, should be derived from detailed project cost estimates and sales forecasts. When you establish your financial data you must be reasonable....
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...a lot is said about project cost estimates, budgeting and value management applied by different organizations, but not everything stated can be reviewed in this paper. Thus in the following section we will identify and review the following. • Approaches to cost estimation • Importance of cost estimation • And problems of cost estimation 3.1 Approaches to cost estimation Venkataraman et al (2008), states the organizations use a number of approaches to estimate project costs, which normally ranges from a highly technical and quantitative to more qualitative approaches. And according to Tolman et al (1987) virtually all project cost estimations are performed according to one or some combination of the following...
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...Five Questions a Project Manager Should Ask About Every Estimate Anthony A DeMarco, President, PRICE Systems, L.L.C. Introduction Every day, project managers make decisions based on estimates. Since each decision can determine whether a project succeeds or fails, accurate estimates are critical. Projects launched without a rigorous initial estimate are five times more probable of experiencing delays and cancellations. Even projects with sound initial estimates are doomed to overrun cost and schedule budgets if they are not guided by rules of thumb and rigorous estimates-to-complete. Therefore, project managers must be armed with simple metrics and rigorous estimating models to be successful. Simple or complex, there are five questions project managers should ask about every estimate as they define and manage their projects. This paper stresses the value of accurate estimating, the project management discipline developing estimating rules-of-thumb and the application of those metrics to aid successful decision-making. Project Managers must be Accurate Estimators The key to successful project completion is an accurate estimate and a realistic risk assessment. Capers Jones, in a study of two hundred and fifty complex, software-intensive projects identified only twenty-five as successful in achieving their initial cost, schedule and performance objectives. Jones defines a failed project as one that is six months over schedule and fifteen percent over its cost...
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...Five Questions a Project Manager Should Ask About Every Estimate Anthony A DeMarco, President, PRICE Systems, L.L.C. Introduction Every day, project managers make decisions based on estimates. Since each decision can determine whether a project succeeds or fails, accurate estimates are critical. Projects launched without a rigorous initial estimate are five times more probable of experiencing delays and cancellations. Even projects with sound initial estimates are doomed to overrun cost and schedule budgets if they are not guided by rules of thumb and rigorous estimates-to-complete. Therefore, project managers must be armed with simple metrics and rigorous estimating models to be successful. Simple or complex, there are five questions project managers should ask about every estimate as they define and manage their projects. This paper stresses the value of accurate estimating, the project management discipline developing estimating rules-of-thumb and the application of those metrics to aid successful decision-making. Project Managers must be Accurate Estimators The key to successful project completion is an accurate estimate and a realistic risk assessment. Capers Jones, in a study of two hundred and fifty complex, software-intensive projects identified only twenty-five as successful in achieving their initial cost, schedule and performance objectives. Jones defines a failed project as one that is six months over schedule and fifteen percent over its cost estimate (p.5). Cost...
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...Project management Approaches While estimating a project, the first step is to derive the size of the project so as to guide in estimation of other parameters, such as cost, schedule, and effort. With an accurate estimation of the size of your project done, you can carry out estimation of the required effort. This conversion from project size to total project effort is done after you have defined the project development lifecycle and development process that your team should follow to specify, design, develop and test the software. Estimation of the effort required in a project requires a project manager to identify and derive, and them put together all the activities that will build up the project as per the estimated size. There are various ways to derive effort from size: Use the organization’s historical data: An ideal path is to utilize your organization's documented information to decide the amount of exertion past projects of the same size has taken. This data obviously does not guarantee the performance of equal measure, but it sure provide a baseline of the possibilities. Review available records and determine the effort applied to achieve similar activities. You can interview the people who were there in case of lack of some records. This, of course, assumes a few things (a) your association has been archiving real records on recent activities and that you will follow a comparatively similar development lifecycle, utilize a comparable advancement strategy, utilize...
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...Project Cost Control Tools & Techniques Jason Owens, jason@jasonowens.com Scott Burke Matthew Krynovich DJ Mance Last Updated: 1/15/07 Project Cost Control Tools & Techniques Introduction Contributors: Owens, Jason, jason@jasonowens.com Burke, Scott Krynovich, Matthew Mance, DJ The formatting and minor edits of this document have been updated since its original creation. Contact information for some of the contributing authors has been removed for reasons of privacy and in no way indicates a lesser degree of contribution. All project team members have contributed equally to this paper. Copyright © 2007 All rights reserved. No part of this document may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without written permission. Jason Owens, jason@jasonowens.com Page 2 of 26 Project Cost Control Tools & Techniques Introduction Executive Summary This paper reviews certain tools and techniques that can be used in order to help those responsible for managing a project to potentially better control and manage project costs. The aspects of life-cycle costing are presented and opportunities for optimizing cost management are presented. Finally, a table summarizing the recommendations are presented in the conclusion. Jason Owens, jason@jasonowens.com Page 3 of 26 Project Cost Control Tools & Techniques Introduction Table of Contents Executive Summary ............................
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...Successful project planning requires a solid method of providing project teams guidelines to answer six questions: what, how, why, when, where, and who. The purpose of this paper is to answer these questions by providing an implementation plan for Friar Tucker International (FTI) in its pursuit to develop the Galleria project using White Beach as the construction vendor. The implementation plan starts with understanding FTI’s strategy. For any project to be successful, “every project should have a clear link to the organization’s strategy” (Gray & Larson, 2006, p. 21). Once the project is aligned to the overall strategic plan, specific information, such as what action is necessary, how long should it take, and who is responsible will be addressed. As with any plan, issues of potential shortfalls, risk factors, and consequences for the plan will arise. This plan will address these issues. Once the implementation planning process is underway at FTI, a system will be in place to monitor the success or failure of the implementation process. Overall, following and understanding the implementation plan for FTI will ensure the success of the Galleria project. Friar Tucker International (FTI) is a hospitality services chain that manages 35 entertainment and cuisine establishments: ranging from restaurants, sports entertainment and hotel chains (University of Phoenix, 2009). The hospitality services chain manages over 1,200 individuals and generates revenue in excess of $300 million...
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...Science and Application, Thapar University, Patiala, India 1 Information Technology, Banasthali University, Jaipur, India 2 Abstract: In this paper; a new Function Point Analysis model has been proposed. In this proposed model, a new general system characteristic is added. The expert user programming also affects the size of software. By including it in the list of general system characteristics, it creates a provision for taking end user facilities into account, while estimating the size of a project. It is clear that proposed FPA provides more accurate size estimates and it will narrow the gap between size estimated and actual size. This will result in more accurate effort and cost estimates, which ultimately results in increased productivity and proper staffing, planning and scheduling. Keywords: FPA, cost estimation, effort, size of project I. INTRODUCTION This document describes the Function point analysis which measures software by quantifying the functionality the software provides to the user based primarily on logical design. Here in this Function Point Analysis model has been proposed which creates a provision for taking end user facilities into account, while estimating the size of a project. This paper comprises of four sections including the present one which describes the goal of this paper. Section II shows research based papers which illustrates related work in function point analysis. Section III gives a brief introduction regarding proposed model and experimental...
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...Cost Overruns Delicia Brice PM3320 Professor Johnson September 16, 2014 Abstract Project management is to forecast and track costs to avoid cost overruns. Poor management leads to rising cost. Effective project management identifies such possible sources of cost overruns early and mitigates their effect. This paper explains the underlying causes of project cost overruns and provides some cost estimating methods used to avoid the overruns in the project. Cost Overruns Cost can be described as one of the most important issues of a project success. A cost overrun is the amount by which the actual cost exceeds the budgeted, estimated, original, or target cost. Society sees cost overruns as the norm. They are a built-in part of most projects despite the much acquired knowledge in project management. The most common reason for this are listed below. Low initial cost estimates are often the result of underestimating bids for subcontracts or the actual costs come in, they are often higher than anticipated. Such cost overruns are due either to incorrect estimates or to changed conditions in the marketplace. With a budget number in mind, you can start to assess the cost range of the project you have in mind with a Ballpark estimate. An overall review may find that increases in some areas are compensated by decreases in others. You may be able to adjust requirements to reduce costs or seek out lower-cost suppliers. Advising the business owners or managers of possible...
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...PROJECT MANAGEMENT INTRODUCTION TO RESEARCH TERM PAPER A report on the impact of Economic Stimulus Programme in Western Region Assignment Submitted in Partial Fulfillment of the Requirements for Award of a Master of Science Degree in Project Management (MSc. Project Management) Olympia Muhanga Musonye Admission Number HD317-C004-2419/2013 23rd June 2013. 1.0 BACKGROUND 1.1 backgrounds The history of government implementation of economic stimulus to receive the economy goes back to the mid – 1930s, following the Great Depression, when Franklin D. Roosevelt of the US attempted to alleviate unemployment and national financial and business failures. During this time, many banks collapsed and consumer confidence became low (Lasse B. 2009). The Kenya Economic Stimulus Program (ESP) was initiated by the Government of Kenya to boost economic growth and lead the Kenyan economy out of a recession situation brought about by economic meltdown. The Kenyan ESP was introduced in the 2009/2010 Budget speech in parliament by the finance minister. Its main aim was to jumpstart the Kenyan economy towards long term growth and development, after the 2007/2008 post election violence that affected the Kenyan economy, prolonged drought, a rally in oil and food prices and the effects of the 2008/09 global economic crisis (Gok, 2009). The Kenyan development can only be sustainable if it is pursued based on principles of equity, good governance, environmental sustainability, and the provision...
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