Risk And Cost Overruns Project Management Discussions

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The reading materials from Lecture 1 thru 4 emphasize the critical mechanisms for addressing the complex relationships among scope, cost and schedule and the influences that impact these knowledge areas as it relates to cost and schedule estimation and control. Review your lecture materials, relevant outside literature, and chapters 5, 6, and 8 of your MM textbook and respond to the following 3 questions.

1. To avoid cost overruns and schedule delays what are the top five questions you would need answered in your project scope statement? Be creative and innovative in responding to this question to make sure you have addressed some of the more serious risks of incomplete or inaccurate project scope.
2. Discuss some of the external influences on cost management that were present in the Big Dig and explain how you would manage those external influences to control both cost growth and schedule extension.
3. Using your readings, lecture materials and outside literature discuss three performance measurements you would recommend for a major project like the Big Dig and how you would (1) monitor; (2) control; and (3) enforce these measurements.