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Project Schedule and Budget
A project plan cannot be considered complete until the
resources have been assigned (including budget and cost
estimate). This week, you will assign the resources required to
work on your project to your scheduled tasks. In addition, you
will add the cost of the resources per hour and any direct or
indirect cost required for project contracts, materials, or
supplies.
You will submit a two-part summary report (business
professional format) of your project budget and resources,
which includes the following:
Part 1: Project Budget (Cost Management)
Explain your approach to estimating the project cost (e.g., top
down, bottom up, etc.) and why that method was chosen.
Create a table that shows the original budgeted cost (from the
charter) and the actual budgeted cost (side by side). Include line
items for labor, materials, contract, equipment, travel cost, and
so on.
Compare the budget from the charter to the final budget and
explain any variances that occurred from your original budgeted
cost in the project charter and the current project cost (include
your original estimated cost for the project).
Explain your budget contingency plan and how much is
budgeted for contingency.
Part 2: Resource Management
Explain the results of your resource assignments. Did you
assign enough people to the project? Were there any resources
over-allocated? What approach will you take to fix any
allocation problems?
Develop a plan to manage your project team and define how you
will motivate your team and how you will handle team conflicts.
What structure would you select for your project: functional,
weak matrix, balanced matrix, strong matrix, or pure project?
Why?
Deliverables for Week 6:
MS project file (.mpp) updated with resource assignments and
cost
MS Word file with report of project budget and resource
management

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Project Schedule and BudgetA project plan cannot be considered com.docx

  • 1. Project Schedule and Budget A project plan cannot be considered complete until the resources have been assigned (including budget and cost estimate). This week, you will assign the resources required to work on your project to your scheduled tasks. In addition, you will add the cost of the resources per hour and any direct or indirect cost required for project contracts, materials, or supplies. You will submit a two-part summary report (business professional format) of your project budget and resources, which includes the following: Part 1: Project Budget (Cost Management) Explain your approach to estimating the project cost (e.g., top down, bottom up, etc.) and why that method was chosen. Create a table that shows the original budgeted cost (from the charter) and the actual budgeted cost (side by side). Include line items for labor, materials, contract, equipment, travel cost, and so on. Compare the budget from the charter to the final budget and explain any variances that occurred from your original budgeted cost in the project charter and the current project cost (include your original estimated cost for the project). Explain your budget contingency plan and how much is budgeted for contingency. Part 2: Resource Management Explain the results of your resource assignments. Did you assign enough people to the project? Were there any resources over-allocated? What approach will you take to fix any allocation problems? Develop a plan to manage your project team and define how you will motivate your team and how you will handle team conflicts. What structure would you select for your project: functional, weak matrix, balanced matrix, strong matrix, or pure project? Why? Deliverables for Week 6:
  • 2. MS project file (.mpp) updated with resource assignments and cost MS Word file with report of project budget and resource management