Discussion: Controlling Direct Labor Costs Peers Review 2

Provide a classmate review on their discussion topic :

provide your response to the following:

Managing Aviation Projects from Concept to Completion on This topic pertains to management of project direct labor cost. Develop a discussion post assessing how the use of a project cost burn-down summary/chart can be a valuable management tool to control direct labor costs.

 

Classmate post that you need to post comment/ review on:

  A burndown chart is essential in any project as it is used to show the number of tasks of that particular project that are unfinished during a specific duration of time. The burndown chart, which mainly informs a graph, enables the project team to visualize the project and make proper estimations of the remaining section of a project. Burndown charts can be used to control direct labor costs, which saves the owner of the project a lot of money. Burndown charts can be used to estimate the accurate cost required for the project ahead of time. When this is time, there is efficient communication between the client and the individual supervising the project to ensure that the client does not give much extra money than needed during the project. When the summary is provided before beginning a project, both parties can see what will be needed and have an almost estimated cost, which saves money mainly on the clients’ side.

            As mentioned, the burndown chart also shows the progress of a project, which included the amount of remaining project and the amount of time. That would also help to estimate costs rather than setting a certain amount of money into the project. When there is a project scope, for example, the client and the project supervisor can estimate the number of workers required to work daily during the remaining period. That is more efficient rather than having so many workers daily while the workload is not much. In connection to that, both the client and the supervisor can also estimate the wages paid to the daily workers based on the amount of work required. The wages will also be determined based on the type of work that is remaining.