Module 7: Estimating Cost, Time, and Scope

Module Overview

The estimation of costs, time, and scope is often a daunting task in project management. Estimation is a critical process since it helps the project manager and all the necessary project stakeholders know the project’s scope and the time and costs needed to complete the project. In project management, the lack thereof estimation may prove deleterious since it may lead to various effects such as the insufficiency of funds, time lag, and the inefficient implementation of the project. Therefore, project estimation is crucial. However, for project estimation to be successful, particularly the estimation of time, costs, and scope, it is necessary that the project manager and the project team know the project objectives, the deliverables, tasks, and the various processes required in managing the project. It is also crucial to have a collaborative project management approach to understand various facets of the project management process. Therefore, this module evaluates the best project management practices useful for creating project estimates, particularly the estimates of scope, time, and costs. Besides that, it will help understand the necessity of estimating time, costs, and scopes during the project management process. Thus, the module will evaluate the estimation of costs, time, and scope separately while revealing why each is important.

Learning Outcomes

By the end of this course, the learner is expected to:

i.  Understand the process of creating project estimates, particularly the estimating time, costs, and scope.

ii.  Expand their project management skillset through the lens of estimating costs, time, and scope.

iii.  Understand how the estimation process works in project management, including which areas in the project management process and activities are crucial in estimating costs. 

iv.  Know how to make appropriate estimates through the application of a work breakdown structure. 

v.  Understand the basic processes needed in making accurate time estimates, scope estimates, and cost estimates in project management. 

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Emmanuel Addo
Founder
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Emmanuel Addo is the founder of the Young Global Leaders Network, an international non-governmental organization registered in six (6) countries namely, Ghana, United Kingdom, Nigeria, Sierra Leone, Democratic Republic of Congo, and South Sudan and has a membership strength of over 15,000 young black professionals, students, graduates, and aspiring leaders.

The organization also operates in 25 other African countries. Emmanuel also doubles as the chief convener and founder of the Young African Leaders Summit, one of the largest continental youth summits in Africa.  

Currently works at Kingston University as a Business Engagement Team Member in their Partnerships and Engagement Department. 

He characterizes energy, integrity, result-oriented, and ground-breaking service in each detail of strategic management, change management, stakeholder management, and leadership acquaintances.
Emmanuel owns a core background in Sociology and Psychology from the University of Ghana.

Leveraging his experience as a youth activist and a dynamic young man, Emmanuel founded the Young Global Leaders Network, a youth organization that comprises young diplomats, young politicians, and aspiring politicians, business/entrepreneurial business leaders with the aim of championing a mutual agenda for the African youth and promoting youth participation in governance as well as promoting entrepreneurial culture.
Emmanuel nurtures an environment of teamwork and has expertise in data collection and analysis as well as both quantitative and qualitative methods.

Emmanuel worked as an Associate Lecturer at the London College of Advanced Management where he delivered a wide range of business management courses that involved principles of marketing, leadership, operation management, and research methods. Emmanuel has always maintained high teaching and learning standards to ensure that his students’ stand out in academic achievements and successful progression. As a stout believer and passionate key player in volunteering; Emmanuel creates quality time to giving back gladly to his community what he has learned and to educate individuals with free consultancy on career development. He is a leader anyone would love to look up to and with great integrity, commitment, and passion to make the world a better place.
Emmanuel worked as Qualifications Manager at the Open University in the UK.

Emmanuel is also the founder of Kickstart Innovation Hub Ltd, the entrepreneurial hub of Young Global Leaders Network.