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1. (Mt) – I need help with my course project
Running Head: PROJECT SCOPE 1 Report on project budget and resource management
Latonya Stephens DeVry University Project Management 10/12/19 PROJECT SCOPE 2
Report on project budget and resource management My approach to estimating cost was by
use of the bottom-up approach. In this approach, the project crew has created a detailed and
defined task. The plan provides for accurate approximations at a specified level. The totals
of these approximations and task dependencies around each work collection determine the
total cost and duration for the project schedule. The bottom-up approach is always more
accurate because it depends on real figures for actual parts of the project. Comparison
between the actual and the original budgeted costs RESOURCES 1. Project manager 2.
Procurement manager 3. Finance manager 4. Marketing director 5. Casual laborer 6. Event
organizers 7. Iron sheets 8. Blocks 9. Timbers 10. Cement 11. Human resource 12. Clerks
ORIGINAL BUDGETED COST $70/hr. (std rate), $80/hr.(overtime} $70/hr. (std rate),
$80/hr.(overtime} $40/hr. (std rate), $50/hr.(overtime} $40/hr. (std rate), $50/hr.
(overtime) $20/hr. (std rate), $30/hr. (overtime) $40/hr. (std rate), $50/hr. (overtime)
$15/yard $10/yard $9/yard $8/bag $20/hr. (std rate), $30/hr. (overtime) $15/hr. (std
rate), $30/hr. (overtime) ACTUAL BUDGETED COST $70/hr. (std rate), $80/hr.(overtime}
$70/hr. (std rate), $80/hr.(overtime} $70/hr. (std rate), $80/hr.(overtime} $60/hr. (std
rate), $70/hr. (overtime) $20/hr. (std rate), $30/hr. (overtime) $40/hr. (std rate), $50/hr.
(overtime) $15/yard $10/yard $9/yard $8/bag $20/hr. (std rate), $30/hr. (overtime)
$15/hr. (std rate), $30/hr. (overtime) The actual budgeted cost has slightly deviated from
the original budgeted value. The variances are due to the overallocation of some of the
resources; finance manager and marketing director. As a result, the actual budgeted cost
approximated at $150K is higher than the original budgeted value of $100K. My budget
contingency plan much relies upon donations from the invited sponsors and well-wishers.
The project is a charity program intended at helping needy single parents; thus,
contributions summed up to $70K. According to my actual budget, I assigned enough people
equal to the tasks. Some of the resources were over-allocated that caused variances
between the real and original budgeted costs. I will correct the resource over-allocation
through employing an advertising agent and accountant. PROJECT SCOPE 3 I will employ
different strategies in managing my project team to achieve the project target. For instance,
I will establish a transparent communication network among my team members to avoid
constant conflicts. I will make sure to evaluate my project after completion to identify the
drawbacks and achievements of the project. I will then concentrate on points of conflict and

2. thus find a plan to work on each battle systematically. During any dispute, I will be keen to
listen while focusing on character and occasions, not on personalities. I will focus on
motivating my team members towards full contribution to the project. I will pay my project
team awesomely what they are worth and create for them a conducive working
environment (Wong, Z. (2007). PROJECT SCOPE Reference Wong, Z. (2007). Human factors
in project management: concepts, tools, and techniques for inspiring teamwork and
motivation. John Wiley & Sons. 4 Running Head: RISK MANAGEMENT PLAN Evaluation of
Risk Factors in the Project Schedule Latonya Stephens DeVry University Project
Management 10/16/19 1 RISK MANAGEMENT PLAN 2 RISK MANAGEMENT PLAN 3 Risk
factors associated with procuring materials Presence of fraud and corruption within the
procuring department. False recording leads to stealing and mismanagement of funds that
hinder the success of the project. Dark purchasing is also another risk whereby purchases
are transacted outside the procurement plan. Marketing risks The brand risk may arise in
the project, which will result in a constant possibility of losing brand quality due to
competition from other organizations. The project may also face product development risk
due to launching a new foundation that is not familiar with society. Inventory management
risks Controlling inventory is a hard task that faces a risk of theft, specifically expensive
stocks. A stock may also be lost or misplaced physically or upon the procurement of a good.
Finance allocation risks Construction and completion risk remains to be a threat to the
finance department. There might be an allocation of funds for construction only to get a
half-completed site with no track of funds usage. The finance department faces the risk of
changing interest rates from the loaning institutions that make the implementation of the
set objectives difficult. Organizing construction risks Organizing construction may face a
chance of a shortage of skilled manpower, which slows down the duration of project
completion. There might also be a risk of construction defects in the structure of the project
due to the wrong materials used on the project. RISK MANAGEMENT PLAN 4 Creating
public awareness risks The process of creating public awareness may not go through,
especially if the public is not inviting, hostile society. Getting a certification license from the
necessary local authorities may become a complicated process, especially for a charity
program hence. As a result, project success becomes a dream. Risks associated with making
invitations Making an invitation can be very difficult if there is a delayed process in the
printing of templates hence postpone the duration of project completion. Making invitations
may also face a risk of false information by the templates’ designer therefore delivering the
unintended message. Recruiting employees’ risks Inconsistent recruiting practices is one of
the dangers facing the process of hiring employees. As a result, the human resource
department ends up employing unqualified personnel that makes the project objective hard
to achieve. Another risk is the unavailability of coverage policies to the employment
practices due to insufficient funds. As a result, hiring skilled labor becomes a problem;
hence, an unsuccessful project endeavor. Risks associated with event planning Event
planning faces a risk of damage to facilities or loss of essential items, which makes project
implementation expensive. The presence of over-stressed workers posses a considerable
threat to the project because it delays the duration of event completion. RISK
MANAGEMENT PLAN 5 Risks associated with budgeting The budgeting process may face

3. the risk of inaccuracy that causes in massive variation between the actual results and the
expected results. Untimeliness may also be another risk facing the budgeting process due to
the long process of establishing the budget, and this causes a delay in the duration of project
completion. Overview Overview A stakeholder management plan is a significant, success-
ensuring artifact to include in your project toolbox and to use during the life cycle of
complex projects. There are many potential stakeholders for a project, such as anyone or
any group who may positively or negatively impact the project life cycle or outcome. A
stakeholder is one who may effect, or one who is affected by, the outcome or change.
Stakeholders can be internal or external to the organization, having different needs and
different levels of involvement. It is important to identify stakeholders and to discern
categories to which they belong. Categories of stakeholders include the following. • Primary
stakeholders includes those who are directly impacted by the project. • Secondary
stakeholders are those who are indirectly impacted by the project. • Key stakeholders may
be primary or secondary, and are those who have significant influence or interest in the
project. Questions to consider when identifying stakeholders are as follows. • To which
stakeholder category do they belong (primary, secondary, key stakeholder)? • What is their
interest and influence level (high/medium/low)? • What is their support level (support,
neutral, against)? • What do they need from us? • How do they want to receive information
and communication? Stakeholder Manageme Project Name: Who Stakeholder Project
Manager: What Stakeholder’s Influence Interest Category High/Low High/Low Role How
Support Neutral Against Monitor Inform Satisfy Manage NOTE: IF THE STAKEHOLDER IS
KEY OR PRIMARY, INTEREST IS HIGH, INFLUENCE IS HIGH, AND ATTIT NOTE: IF THE
STAKEHOLDER IS KEY OR PRIMARY, INTEREST IS HIGH, INFLUENCE IS HIGH, AND
ATTITUDE IS AGA Stakeholder: Enter the names of the project stakeholders. Stakeholder’s
Role: Enter the stakeholder’s role in the project. Category: Primary/Secondary/Key
Influence High/Low: Use the dropdown box to enter the stakeholder’s level of influence in
the project. (Select high or low.) Interest High/Low: Use the dropdown box to enter the
stakeholder’s level of interest in the project. (Select high or low.) Monitor, Inform, Satisfy, or
Manage: Use the dropdown box to select an approach for the stakeholder based on his or
her lev – High influence/High interest: Manage by fully engaging them in the process – High
influence/Low interest: Satisfy with levels of communication necessary to meet their needs
– Low influence/Low interest: Monitor for changing needs and interests – Low
influence/High interest: Inform with appropriate levels of communication to safeguard
against issues Strategy: Enter a strategy action based on the selection of monitor, inform,
satisfy, or manage. Strategy Owner: Enter a strategy action owner. Strategy Date: Enter a
strategy action date. Comments: Enter necessary comments based on the stakeholder line
item. Management Plan ject Manager: How Date: Who Method (e-mail, meetings, posting on
Strategy Owner collaborative site, etc.) When Other Frequency Notes CE IS HIGH, AND
ATTITUDE IS SUPPORT, FONT WILL HIGHLIGHTED IN GREEN. H, AND ATTITUDE IS
AGAINST, FONT WILL HIGHLIGHTED IN RED. ect. (Select high or low.) (Select high or low.)
der based on his or her level of influence and level of interest. st issues COMMUNICATIONS
MATRIX Column A B C D E F G Instructions For Completing This Document Complete the
Project Name, NC, Project Manager Name, and Project Description fields For each identified

4. communication, complete the following. ID: A unique ID number is used to identify the
communication within the communication matrix. Communication Vehicle: This column
should be populated with a description of the type of communication that will be conducted.
Target Audience: This field should be populated with a description of the target audience
for this communication vehicle. Description/Purpose: This field should be populated with a
description of the purpose of the communication. Frequency: This field should be populated
with the frequency of which the communication will be distributed. Owner: This field
should be populated with the name of the owner of the communication. Distribution
Vehicle: This field should be populated with the type of distribution vehicle that will be used
to disseminate the communication. H I Internal/External: This field should indicate if the
communication is for internal, external, or both internal and external distribution.
Comments: This column should be populated with any additional comments.
COMMUNICATIONS MATRIX Project Name: Project Manager Name: Project Description:
Communicaton ID Vehicle 0 Weekly status report Target Audience Project Team UP
Template Version: 11/30/06 Description/Purpose Communicate updated project status
Frequency Weekly Sender John Doe Distribution Internal / Vehicle External? e-mail Internal
and External Comments Page 2 of 2