7. Discuss what are the primary ways in which project managers use estimates throughout the project? Explain in detail.
Project managers rely on estimates throughout the project to plan and track progress, allocate resources, and make informed decisions. There are several primary ways in which project managers use estimates throughout the project, which are explained below in detail:
1. Project Planning
During the project planning phase, project managers use estimates to develop a comprehensive project plan. They estimate the time and effort required for each task and activity in the project, as well as the total project duration and cost. This information is used to create a project schedule, determine the project budget, and allocate resources.
2. Resource Allocation
Project managers use estimates to allocate resources, such as personnel, equipment, and materials. They estimate the amount of resources needed for each task and activity in the project, as well as the total resources required for the entire project. This information is used to ensure that the right resources are available at the right time and in the right quantities.
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