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Cost Estimating is an approximation of the cost of all resources needed to complete activities. Cost budgeting aggregating the estimated costs of resources, work packages and activities to establish a cost baseline. Cost Control – factors that create cost fluctuation and variance can be influenced and controlled using various cost management ...
Scheduling is the process of arranging, controlling and optimizing work and workloads in a production process or manufacturing process. Scheduling is used to allocate plant and machinery resources, plan human resources, plan production processes and purchase materials.
The project schedule is a calendar that links the tasks to be done with the resources that will do them. It is the core of the project plan used to show the organization how the work will be done, commit people to the project, determine resource needs, and used as a kind of checklist to make sure that every task necessary is performed.
Cost engineering is the area of engineering practice where engineering judgment and experience are used in the application of scientific principles and techniques to problems of cost estimating, cost control, business planning and management science, profitability analysis, project management, and planning and scheduling."
Human resource metrics are measurements used to determine the value and effectiveness of human resources (HR) initiatives, typically including such areas as turnover, training, return on human capital, costs of labor, and expenses per employee.
In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. [1]
A schedule is most often created by a manager. In larger operations, a human resources manager or scheduling specialist may be solely dedicated to creating and maintaining the schedule. A schedule by this definition is sometimes referred to as workflow. [citation needed] Software is often used to enable organizations to better manage staff ...
Project management software are computer programs that help plan, organize, and manage resources.. Depending on the sophistication of the software, it can manage estimation and planning, scheduling, cost control, budget management, resource allocation, collaboration software, communication, decision-making, quality management, time management and documentation or administration systems.