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Apply: Signature Assignment: Cost Model

Apply: Signature Assignment: Cost Model

Apply: Signature Assignment: Cost Model

Assignment Content

1.

Project Cost Management

Open a new Microsoft Word document, Microsoft Excel document, or use the

provided template to complete the following tasks.

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 6 months for under $200,000.

Use the Cost Estimate template and Cost Baseline template to assist with this

assignment.

Tasks

o Prepare and upload a 1-page cost model for this project using

spreadsheet software. Use the following work breakdown structure (WBS),

and document your assumptions in preparing the cost model. Assume a

labor rate of $100 per hour for the project manager and $60 per 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.

o Project management

o Requirements definition

o Website design

o Registration for recreational programs

o Registration for classes and programs

o Tracking system

o Incentive system

o Website development

o Registration for recreational programs

o Registration for classes and programs

o Tracking system

o Incentive system

o Testing

o Training, rollout, and support

 

o Using the cost model you created in the first task, prepare a cost baseline

by allocating the costs by WBS for each month of the project.

o Assume that you have completed 3 months of the project. The BAC was

$200,000 for this 6-month project. You can also make the following

assumptions:

o PV=$120,000

o EV=$100,000

o AC=$90,000

o What is the cost variance, schedule variance, cost performance index

(CPI), and schedule performance index (SPI) for the project?

o Use the CPI to calculate the estimate at completion (EAC) for this project.

Is the project performing better or worse than planned?

o Use the SPI to estimate how long it will take to finish this project.

After completing your charts, write a 150-word follow-up in which you complete

the following:

o Explain how the project is doing based on the CPI and SPI. Is it ahead of

schedule or behind? Is it under budget or over?

o Describe the strategies or steps that should be taken for human resource

management to avoid additional costs.

o Describe the strategies or steps that should be taken for resource activity

management to avoid additional costs.

o Recommend 2 tools to support these strategies and explain why these

tools would be beneficial.

Submit your cost model, course baseline, and follow-up.

 

Resources

o Center for Writing Excellence

o Reference and Citation Generator

o Grammar and Writing Guides


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