SNHU Different Strategies to Reduce Estimating Errors Discussion

5-1 Discussion: Reducing Estimating Errors

On pages 138 and 139 of Project Management: The Managerial Process, there is information about reducing estimating errors. Review the information contained there. For this discussion, you will use the following six strategies below to minimize errors:

Identify all stakeholders

Involve the stakeholders when creating the estimates

Aggregate the estimate by comparing several models

Manage the project against the estimates

Track projects closely

Track actual costs and times at a granular level

Imagine you are the project manager of the project described in the Medical Informatics case study (provided for your final project). Choose one of the strategies described above, and discuss how you would employ this strategy as the project manager. How would using this strategy increase the chances of a successful outcome in this particular case?

Expert Solution Preview

Introduction:
As a medical professor in charge of creating college assignments and answers for medical college students, it is important to incorporate relevant information in the curriculum. This discussion focuses on reducing estimating errors in project management. The aim of this discussion is to evaluate the strategies that can be used to minimize errors when creating estimates. Additionally, we examine how these strategies can enhance the success of a project, using the Medical Informatics case study, which is provided as a reference.

Answer:
The use of stakeholders when creating estimates is a critical component of reducing estimating errors. As the project manager of the Medical Informatics case study, it is important to identify all stakeholders who are involved in the project. By involving stakeholders in the estimation process, the understanding of project requirements and deliverables is enhanced, making it easier to create an accurate estimate.

When estimating project costs and timelines, involving stakeholders allows for a collaborative effort where different perspectives are considered. The project manager and team members get an opportunity to ask questions and clarify any uncertainties. Stakeholders also provide input on potential risks and constraints that may impact the project, enabling the project manager to consider a more comprehensive range of factors when calculating estimates.

Using this strategy increases the chances of a successful outcome in the Medical Informatics case study by ensuring there is a shared understanding of project goals, deliverables, and constraints. The use of stakeholders when creating estimates can also lead to more realistic timelines and budgets, thereby avoiding missed milestones or budget overruns. Ultimately, involving stakeholders when creating estimates helps to build more robust project plans, enhances communication, and increases stakeholder buy-in, which contributes to project success.

Expert Solution Preview

Introduction:

As a professor responsible for conducting lectures, evaluating student performance, and providing feedback through examinations and assignments at Harvard University, it is essential to delve into various aspects of project management. In this discussion, we will focus on minimizing estimating errors in project management. The goal of this discussion is to review strategies that can assist in reducing errors during the estimation process and how these strategies can be applied to enhance the success of a project. We will use the Medical Informatics case study to explore one of the strategies mentioned and how it can benefit the project.

Answer:

The use of stakeholders when creating estimates is a pivotal aspect of reducing estimating errors in project management. As the project manager of the Medical Informatics case study, it is crucial to involve all stakeholders who will be affected by the project. By involving stakeholders in the estimation process, it enables them to understand the project’s requirements and deliverables, and this makes it easier to create an accurate estimate.

In addition, involving stakeholders during the estimation process allows for a collaborative effort where various perspectives are considered. The project manager and the team members have an opportunity to ask questions, clarify uncertainties, and obtain input on potential risks and constraints that may impact the project. This enables the project manager to consider a more comprehensive range of factors during the estimation process.

The use of stakeholders when creating estimates enhances the chances of a successful outcome in the Medical Informatics case study by developing a shared understanding of project goals, deliverables, and constraints. It can also lead to more realistic timelines and budgets, avoiding missed milestones or budget overruns. Ultimately, involving stakeholders when creating estimates helps to build more robust project plans, enhances communication, and increases stakeholder buy-in, which contributes to project success.

#SNHU #Strategies #Reduce #Estimating #Errors #Discussion

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

HCA410 Discussion

Provide an example of a specific type of medical error and discuss its significance and the factors contributing to such errors. Significance can be described by providing specific statistics or figures that indicate the magnitude of the issue. (remember to make clear connections with supporting information and course material in

Introductions Discussion

Need help with my Health & Medical question – I’m studying for my class. ”If you could be a superhero, which one would you be and explain why? ”Comment (3-4 sentences) on 2 of your classmate’s reflections about something you have in common or find interesting that you learned about

Cultural Diversity Paper

Purpose:To recognize that individual culture does impact womans health care, communication, nutrition, and family influences that shape the families you are caring for. Concept:Cultural Diversity   Objective:  Write a paper regarding a culture and its impact on families, contraception, conception and birth. Instructions:  Create a cultural diversity paper. This project

Social Determinants Discussion

Discuss at least two social determinants that impact the health of rural populations. Application Describe policies or a (proposed) policy that would facilitate increased accessed to any particular social determinant. Specifically state and define the determinant you will discuss. Resources for topics below: https://www.healthypeople.gov/2020/topics-objectives/topic/social-determinants-of-health?topicid=39 https://www.cdc.gov/socialdeterminants/docs/SDH-White-Paper-2010.pdf Expert Solution Preview Introduction: In

Health Care Spending Discussion

No one is immune to the rising costs of health care. Consider the following news stories: “In 2008, the average premium for a family plan purchased through an employer was $12,680, nearly the annual earnings of a full-time minimum wage job” (Halle & Seshamani, 2009, Introduction, para. 1). “President Obama’s

World Health Orgnization Questions

According to the World Health Orgnization, an emerging infectious disease (EID) is an infectious disease that has appeared in a population for the first time, or that may have existed previously but is rapidly increasing in incidence or geographic range (WHO). Outbreaks are the occurrence of disease cases in excess

A Study of Serum Magnesium and Dyslipidemia in Type 2 Diabetes Mellitus

Provide a two-page review of the study of serum magnesium and dyslipidemia in Type 2 diabettes mellitus patients. USE MLA FORMATTING and make it two pages Expert Solution Preview Introduction: The study of serum magnesium and dyslipidemia in Type 2 diabetes mellitus patients is an important area of research in

communicable disease and infectious disease

Week 5 lecture and discussion questions         Attached Files: Chapter_025 CHN.pptx                                                                     (902.033 KB)  Communicable Disease and Infectious Disease. According to the World Health Orgnization, an emerging infectious disease (EID) is an infectious disease that has appeared in a population for the first time, or that may have existed previously but

SU State Children’s Health Insurance Program Discussion

“State Children’s Health Insurance Program” Please respond to the following: From the first e-Activity, specify whether your state follows the private insurance model or the Medicaid model for its CHIP. Analyze the impact that the choice of model has on the fiscal health of your state. Provide two (2) examples

HEED203 Mental Illness Discussion

In the United States, cultural perceptions of mental illness often lead to social stigma. In your opinion, how does the media contribute to these perceptions? Name two recommendations that you would make to the media to combat the way they contribute to the perceptions you named. Comment on 2 of

Mental Illness Discussion

In the United States, cultural perceptions of mental illness often lead to social stigma. In your opinion, how does the media contribute to these perceptions? Name two recommendations that you would make to the media to combat the way they contribute to the perceptions you named. Comment on 2 of

Benefits of PHRs Discussion

I’m stuck on a Health & Medical question and need an explanation. The military and the VA have been leaders in promoting PHRs. Why would PHRs be especially advantageous to these populations? Or, how can PHRs cut healthcare costs? Or, what about the patients who are at a disadvantage, those

Can A Nurse Legally Refuse An Assignment?

The American Nurses Association (ANA) upholds that registered nurses – based on their professional and ethical responsibilities – have the professional right to accept, reject or object in writing to an assignment. That means if a nurse feels uncomfortable with an assignment, they can refuse it. However, there are potential

Fun Facts About Labor and Delivery Nurses

Most people know that labor and delivery nurses are responsible for providing care to women during childbirth. However, there is much more to this profession than meets your eye. Here are some fun facts about labor and delivery nurses that you may not know. Labor and delivery nurses are highly

Ideas for Mental Health Association Discussion

I’m working on a health & medical question and need the explanation and answer to help me learn. I have a mental health association that specializes in mental health for people who have common diseases such as depression, for people who are addicted to drugs, anxiety, and for those who

SEU Health Management Discussion

Describe how healthcare system financing works in the Kingdom of Saudi Arabia. Give at least two references to support your answer. Purpose The purpose of this activity is to demonstrate the interpersonal skills by responding to discussion questions and the posts of the classmates. Action Items Review the submission instructions

Arizona University Global Campus Health Information System Discussion

You will propose how the particular health information system used in your selected case would be applicable in a health care organization of your choice. 2 pages in length, 3 resources in the past 5 years.  Evaluate the needs that are present within your selected case study as it applies

Saudi Electronic University Medical Coding and Billing Discussion

I’m working on a health & medical question and need support to help me learn. What are the benefits of using ICD10 coding system? Expert Solution Preview Introduction: The field of medicine relies heavily on proper coding and documentation of patient information. The International Classification of Diseases, Tenth Revision (ICD10) coding system is one of the most extensively