Directions: Complete the two tasks associated with project time management and the three tasks associated with project cost management. (…total of five tasks) Put all your work on one word document. Separate your tasks by headings and/or page inserts. Remember… turn your work in on a word document as ONE attachment for grading.
NOTE: This is a continuation of the running case started in week three and continues through the rest of the course. Tasks based on this case are explained following the case study. These tasks will build on work done in previous weeks.
Tony Prince is the project manager for the Recreation and Wellness Intranet Project. Team members include you, a programmer/analyst and aspiring project manager; Patrick, a network specialist; Nancy, a business analyst; and Bonnie, another programmer/analyst. Other people are supporting the project from other departments, including Yusaff from human resources and Cassandra from finance. Assume that these are the only people who can be assigned and charged to work on project activities. Recall that your schedule and cost goals are to complete the project in six months for under $200,000.
Tony Prince and his team are working on the Recreation and Wellness Intranet Project. They have been asked to refine the existing cost estimate for the project so they can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $200,000.
1. Prepare a one-page cost model for the project described in the Running Case, similar to the model below:
|Types of Cost Estimates
|Type of Estimate
|Rought order of magnitude (ROM)
|Very early in the projec tlife cycle, often 3–5 years before project completion
|Provides estimate of cost for selection decisions
|−50% to +100%
|Early, 1–2 years out
|Puts dollars in the budget plans
|−10% to +25%
|Later in the project, less than 1 year out
|Provides details for purchases, estimates actual costs
|−5% to +10%
Source: TABLE 7-2 Types of cost estimates © Cengage Learning 2014
Use the following WBS, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $100/hour for the project manager and $60/hour for other project team members. Assume that none of the work is outsourced, labor costs for users are not included, and there are no additional hardware costs. The total estimate should be $200,000.
2. Using this cost model you created, prepare a cost baseline by allocating the costs by WBS for each month of the project.
3. Assume that you have completed three months of the project. The BAC was $200,000 for this six-month project. You can also make the following assumptions:
PV = $120,000
EV = $100,000
AC = $90,000
a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more