Reference no: EM133031131

Activity 1A

1. Provide a definition for a work breakdown structure and explain why you would use a work break down structure.
2. Identify three major resource requirements related to your organisation.
3. make a skill sheet that you could use to record the human resources you require for a project.
4. Identify two non-person resources related to your organisation.
5. You may need guidance and input from stakeholders and others when determining the required resources for your project. Conduct the necessary enquiries and identify who you may need guidance from when determining resource requirements.
6. There are seven key principles which can be used to manage stakeholder relationships. Identify one principle and explain where you have used this previously.
7. Provide an example where you have purchased or hired products or services from outside your organisation and outline how you obtained these products or services.

Activity 1B

1. Provide one example of what a good estimate will define.
2. Provide one example of what is considered when estimating project costs.
3. Before starting the estimation of project costs, outline what you should ensure that you have done.
4. Identify 3 different estimation techniques and provide a definition of each.
5. Provide one example of a cost estimating rule which should be considered.
6. Explain the importance of a budget tolerance.

Activity 1C

1. Explain what a project budget is.
2. Provide three examples of direct costs and three examples of indirect costs.
3. There are two main approaches when developing a project budget, top down and bottom up. Identify an advantage and disadvantage of each approach.
4. Identify three contingencies that may relate to your project budget.
5. Identify one potential risk you may identify when developing your project budget.

Activity 1D

1. Explain what a cost management plan is.
2. Provide an example of a cost estimating tool you could use when developing a cost-management plan.
3. Provide an example of a budgeting tool you may use when developing a cost-management plan.
4. Provide an example of a cost control tool you may use when developing a cost-management plan.
5. Outline two steps you would take when developing a cost management plan.
6. If your cost management plan is developed within delegated authority, what does this means?

Activity 2A

1. Explain what monitoring your actual expenditure against your budget allows you to do.
2. Provide a definition for financial management processes and procedures. Give 2 examples of financial management processes and procedures.
3. Before the monitoring process, outline what needs to be determined.
4. Explain what a critical path schedule is and how it can be used to monitor actual expenditure against budget.
5. Provide a definition for a Key performance indicator (KPI).
6. Give 3 examples of KPIs that may be used in the assessment of project expenditures.

Activity 2B

1. Explain the importance of using cost-analysis methods.
2. What is schedule variance?
3. What is schedule performance index?
4. What is cost variance?
5. What is cost performance index?
6. You have carried out an analysis to evaluate alternative actions. The analysis has revealed low productivity. Explain the reasons why there may be low productivity and how this can be remediated.

Activity 2C

1. Provide one example of an agreed action for solving cost variations that may occur within a project.
2. Identify one example of what agreed alternative actions should include.
3. Provide an example of when you have had to implement an alternative action and outline how you monitored these actions.

Activity 2D

1. Explain what is financial report and why do you need to produce it?
2. What sections may be within a financial report?
3. When producing a financial report you may draw upon existing records. Research and Identify an existing record you may use in your organisation when producing your report

Activity 3A

1. Identify 3 activities you may conduct to signify the completion of a project.
2. Using the examples provided in question 3a (1), provide an example of where you have carried out this financial completion activity previously and outline what you did.
3. Within your organisation you will need to obtain the relevant signature or consent at various stages throughout your project to enable you to move forward. Design a financial record table you could use within your organisation.

Activity 3B

1. In order to determine whether the project outcomes were reached. You should use key measurements throughout the project and after completion. Identify one key measurement.
2. Identify an example of what you would evaluate within a review of project outcomes.
3. You may use previous records to help review project outcomes. Research and identify what records you can use in your organization.
4. You may choose to use a project completion report as shown in the table below. Identify who may be required to sign the report off

Project phase	Completed?	Signed off by?

Activity 3C

1. Provide a definition of cost management.
2. Provide 3 examples of cost management issues.
3. When reviewing cost management issues what should you remember?
4. Research and identify your organization's procedure for documenting any improvements.
5. Give an example of a previous cost management issue you have come across. Explain what improvements you made.

Activity 4A

Identify one example for each of the following:

a) Budgeting processes:

b) Budgeting tool:

c) Budgeting techniques:

Activity 4B

Outline how you would apply each of the examples you have provided in 'Activity 4A' to a project.

Activity 4C

Outline one method and one tool used for costing and cost analysis.

Activity 4D

Outline how you would apply the method and tool identified in 'Activity 4C' to a project.

Activity 4E

1. Explain the strategies for managing costs and their applications in different situations.
2. Explain how you would develop a budget for a project.

Activity 4F

Suggest how you could record expenditure, make accurate financial reports and evaluate the cost management processes of a project.

Activity 4G

Research and identify three organizational polices and or procedures applicable to your role in a project.