Reference no: EM132603466

PROJ6002 Project Planning and Budgeting - Laureate International Universities

Assessment - Cost and Quality Management Plans

Learning Outcome 1: Evaluate and apply a range of project scope, cost and time management planning techniques and practices to address the needs of complex project briefs, including global, paying particular attention to issues impacting project outcomes.

Learning Outcome 2: Present and justify budgetary and planning outcomes to a globally diverse range of stakeholders who represent competing interests in order to obtain agreement and commitment to action.

Learning Outcome 3: Apply quality management planning tools and techniques to achieve expected project outcomes.

Project Cost Management includes the processes of planning, estimating, budgeting, financing, funding, managing and controlling costs so that the project can be completed within the approved budget.

Project Cost Management planning begins with the process of developing cost estimates. In this process, a project manager is tasked with considering all types of costs likely to be incurred in the different phases of a project. In addition, the project manager will consider the risks likely to affect costs and any variations these risks may cause. This helps the project manager to make more reliable and usable cost estimates and ensure that any project budget variation due to unforeseen circumstances is mitigated as much as possible. Once the cost-estimation process has been fully carried out for each project activity, the project manager then combines the costs to determine the project budget. Finally, the project manager will consider the steps he or she will take throughout the project to ensure that the actual expenditure is kept within the budget specified.

Project Quality Management (PQM) includes the processes and activities of the performing organisation that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which is was undertaken. PQM uses policies and procedures to implement, within the project's context, the organisation's quality management system and, as appropriate, it supports continuous process improvement activities as undertaken on behalf of the performing organisation. PQM works to ensure that the project requirements, including the product requirements, are met and validated.

Project Quality Management planning is the process of identifying quality requirements and/or standards for the project and its deliverables, and documenting how the project will demonstrate compliance with relevant quality requirements. The key benefit of this process is that it provides guidance and direction on how quality will be managed and validated throughout the project.

Part A: Module Discussion Activity

Defining project quality and its association to project cost management

How do you define quality in a project? Describe tools/techniques you think are a necessity for planning a project's quality management and how to implement them. Explain how the project cost can be affected by poor quality and give some examples from the given case study.
Output:

Part A - provide an initial discussion of 500 words by first half of Module 5. Respond to at least one fellow student discussion (Total 750 words for Assessment 2 Part A) by the end of Module 5.

Part B: Cost and Quality Management Plans

Part B - You will use the given case study to complete this part individually or in a group of 2-3 students. You will begin developing the cost management planning components of your Cost Management Plan in Module 4. For this plan, you are responsible for developing the project cost estimate and a project budget baseline.
In addition to your cost estimates and budget, include a 750 words to describe the processes, and tools and techniques you are using in your cost management plan, as well as justification of your budgetary plan. You can use the templates found in this module's Learning Resources or a format of your own.

In Module 5, you will develop the quality management planning components of your Quality Management Plan. Refer to the learning resources and the template provided for guidance.

The written portion of your quality management plan should consist of 750 words. You can use the templates found in this module's Learning Resources or a format of your own.

If you work in group, nominate a group leader within your group and this group leader will submit the group assessment on behalf of the group.

At the end of your assessment, you will individually, and anonymously, evaluate the contribution of your group members and yourself in this assessment, using the Group Contribution Form provided. On a scale of 1 to 10, rate yourself and then rate each of your fellow group members on their performance and contribution to this assessment. Individually submit the completed group contribution form on Blackboard.

Attachment:- Project Planning and Budgeting.rar