What I find most challenging about estimating activity duration and resource cost is making sure that the time allocated is utilized by the activity and not being wasted . Another challenge could possibly being prepare for any changes or issues that may occur, and to know what effects the changes will have on the project. Projects have a higher potential for conflict than non-projects (Portny, et al, 2008). A project budget is derived from the project plan that calls for specific activities (Portny, et al, 2008). Along with schedules, objectives, activities to be preformed; project managers must develope budgets in order to obtain the resources needed to accomplish project objectives. Project managers need tools to assist them with keeping up with a projects progress, ensuring each task is being complete, resources are being allocated and utilized properly. There are available software a project manager can use to keep track of an entire project from start to finish. The first software I came across can be used for small and large projects, Microsoft Project, is a software that can be used anywhere. It allows for virtual collaborating between the teams involved. The great feature is that this software can be accessed online. This software allows the project manager to stay involved with every bit of the process from task completion and updates, to budget management. This software allows for clients, executives, and other shareholders to be closely involved with the project as well. You can find more great information about this software at https://products.office.com/en-us/project/project-and-portfolio-management-software. Basecamp https://basecamp.com/ is another software I came across that has been around for sometime now. Basecamp has been used by many companies we all are pretty familiar with. Basecamp offers all the Project managers needs of collaborating with other team members, sharing documents and information, keeping track of resources and schedules. An awesome feature with Basecamp is that it has a app for both Apple and Android products, so there is no need to stress about having your laptop or being at a desktop, you can access your project right from your or tablet.
Portny, S. E., Mantel, S. J., Meredith, J. R., Shafer, S. M., Sutton, M. M., & Kramer, B. E. (2008). Project management: Planning, scheduling, and controlling projects. Hoboken, NJ: John Wiley & Sons, Inc.
Basecamp. (2014). retrieved from https://basecamp.com/
Project. (2014). Microsoft. retrieved from https://products.office.com/en-us/project/project-and-portfolio-management-software