Reference no: EM13842244

Directions: Complete the two tasks associated with project time management and the three tasks associated with project cost management. (...total of five tasks) Put all your work on one word document. Separate your tasks by headings and/or page inserts. Remember... turn your work in on a word document as ONE attachment for grading.

 

Project Time Management: Case Study

 

Tony Prince is the project manager for the Recreation and Wellness Intranet Project. Team members include you, a programmer/analyst and aspiring project manager; Patrick, a network specialist; Nancy, a business analyst; and Bonnie, another programmer/analyst. Other people are supporting the project from other departments, including Yusaff from human resources and Cassandra from finance. Assume that these are the only people who can be assigned and charged to work on project activities. Recall that your schedule and cost goals are to complete the project in six months for under $200,000.

Assignment- Project Time Manahment

 

 

1. Review the WBS and Gantt chart you created previously. Propose three to five additional activities that would help you estimate resources and durations. Now, identify at least eight milestones for the Recreation and Wellness Intranet Project. Remember that milestones normally have no duration, so you must have tasks that will lead to completing the milestone. Add your activities and milestones to your Gantt chart, creating a new Gantt chart. Estimate the task durations and enter dependencies as appropriate. Remember that your schedule goal for the project is six months. Copy the Gantt chart and network diagram to a word document.
2. After your Gantt chart and network diagram, summarize how you would assign people to each activity. Include a table or matrix listing how many hours each person would work on each task. These resource assignments should make sense given the duration estimates you made. Remember that duration estimates are not the same as effort estimates because they include elapsed time.

 

 

Project Cost Managment: Case Study

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 six months for under $200,000.

Assignment- Project Cost Managment

 

 

1. Prepare a one-page cost model for the project described in the Running Case, similar to the model below:

 

Types of Cost Estimates
Type of Estimate	When Done	Why Done	How Accurate
Rought order of magnitude (ROM)	Very early in the projec tlife cycle, often 3-5 years before project completion	Provides estimate of cost for selection decisions	-50% to +100%
Budgetary	Early, 1-2 years out	Puts dollars in the budget plans	-10% to +25%
Definitive	Later in the project, less than 1 year out	Provides details for purchases, estimates actual costs	-5% to +10%

 

Source: TABLE 7-2 Types of cost estimates © Cengage Learning 2014

 

Use the following WBS, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $100/hour for the project manager and $60/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.

 

• a. Project management
• b. Requirements definition
• c. Web site design
  • Registration for recreational programs
  • Registration for classes and programs
  • Tracking system
  • Incentive system
• d. Web site development
  • Registration for recreational programs
  • Registration for classes and programs
  • Tracking system
  • Incentive system
• e. Testing
• f.  Training, rollout, and support

 

2. Using this cost model you created, prepare a cost baseline by allocating the costs by WBS for each month of the project.

 

3. Assume that you have completed three months of the project. The BAC was $200,000 for this six-month project. You can also make the following assumptions:

 

PV = $120,000

EV = $100,000

AC = $90,000

 

a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?

b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?