Project Time and Cost Management: Running Case
Complete the two tasks associated with project time management and the three tasks associated with project\u00a0cost management. (\u2026total of five tasks) Put all your work on one word document. Separate your tasks by headings and\/or\u00a0page inserts.\u00a0Remember\u2026 turn your work in on a word document as ONE attachment for grading. <\/p>\n
***Note: This is a continuation of the running case started in week three and continues through the rest of the course.\u00a0Tasks based on this case are explained following the case study. These tasks will build on work done in previous weeks. <\/p>\n
Project Time Management: Case Study <\/p>\n
Tony Prince is the project manager for the Recreation and Wellness Intranet Project. Team members include you, a\u00a0programmer\/analyst and aspiring project manager; Patrick, a network specialist; Nancy, a business analyst; and Bonnie,\u00a0another programmer\/analyst. Other people are supporting the project from other departments, including Yusaff from\u00a0human resources and Cassandra from finance. Assume that these are the only people who can be assigned and charged\u00a0to work on project activities. Recall that your schedule and cost goals are to complete the project in six months for under\u00a0$200,000. <\/p>\n
Project Time Management: Assignment (2 Tasks) <\/p>\n
Review the WBS and Gantt chart you created previously. Propose three to five additional activities that would help you\u00a0estimate resources and durations. Now, identify at least eight milestones for the Recreation and Wellness Intranet Project.\u00a0Remember that milestones normally have no duration, so you must have tasks that will lead to completing the milestone.\u00a0Add your activities and milestones to your Gantt chart, creating a new\u00a0Gantt chart. Estimate the task durations and enter\u00a0dependencies as appropriate. Remember that your schedule goal for the project is six months. Copy the Gantt chart and\u00a0network diagram to a word document. <\/p>\n
After your Gantt chart and network diagram,\u00a0summarize\u00a0how you would assign people to each activity. Include a\u00a0table\u00a0or matrix\u00a0listing how many hours each person would work on each task. These resource assignments should make\u00a0sense given the duration estimates you made. Remember that duration estimates are not the same as effort estimates\u00a0because they include elapsed time. <\/p>\n
Project Cost Management: Case Study <\/p>\n
Tony Prince and his team are working on the Recreation and Wellness Intranet Project. They have been asked to refine\u00a0the existing cost estimate for the project so they can evaluate supplier bids and have a solid cost baseline for evaluating\u00a0project performance. Recall that your schedule and cost goals are to complete the project in six months for under\u00a0$200,000. <\/p>\n
Project Cost Management: Assignment (3 Tasks) <\/p>\n
Prepare a one-page cost model for the project described in the Running Case, similar to the model below: <\/p>\n
Types of Cost Estimates <\/p>\n
Type of Estimate <\/p>\n
When Done <\/p>\n
Why Done <\/p>\n
How Accurate <\/p>\n
Rought order of magnitude (ROM) <\/p>\n
Very early in the projec tlife cycle, often 3\u20135 years before project completion <\/p>\n
Provides estimate of cost for selection decisions <\/p>\n
\u221250% to 100% <\/p>\n
Budgetary <\/p>\n
Early, 1\u20132 years out <\/p>\n
Puts dollars in the budget plans <\/p>\n
\u221210% to 25% <\/p>\n
Definitive <\/p>\n
Later in the project, less than 1 year out <\/p>\n
Provides details for\u00a0purchases, estimates actual costs <\/p>\n
\u22125% to 10% <\/p>\n
Source: TABLE 7-2 Types of cost estimates \u00a9 Cengage Learning 2014 <\/p>\n
Use the following WBS, and be sure to document your assumptions in preparing the cost model. Assume a labor rate\u00a0of $100\/hour for the project manager and $60\/hour for other project team members. Assume that none of the work is\u00a0outsourced, labor costs for users are not included, and there are no additional hardware costs. The total estimate should\u00a0be $200,000. <\/p>\n
a. \u00a0Project management <\/p>\n
b. \u00a0Requirements definition <\/p>\n
c. \u00a0Web site design <\/p>\n
o \u00a0Registration for recreational programs <\/p>\n
o \u00a0Registration for classes and programs <\/p>\n
o \u00a0Tracking system <\/p>\n
o \u00a0Incentive system <\/p>\n
d. \u00a0Web site development <\/p>\n
o \u00a0Registration for recreational programs <\/p>\n
o \u00a0Registration for classes and programs <\/p>\n
o \u00a0Tracking system <\/p>\n
o \u00a0Incentive system <\/p>\n
e. \u00a0Testing <\/p>\n
f. \u00a0Training, rollout, and support <\/p>\n
Using this cost model you created, prepare a cost baseline by allocating the costs by WBS for each month of the\u00a0project. <\/p>\n
Assume that you have completed three months of the project. The BAC was $200,000 for this six-month project. You\u00a0can also make the following assumptions: <\/p>\n
PV = $120,000
EV = $100,000
AC = $90,000 <\/p>\n
a. \u00a0What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index\u00a0(SPI) for the project? <\/p>\n
b. \u00a0How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? <\/p>\n","protected":false},"excerpt":{"rendered":"
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