Project Cost Management and Funding

This assignment focuses on project cost management and funding requirements. It presents a detailed breakdown of costs associated with different project phases, along with a cumulative total expenditure. The document emphasizes the significance of proactive planning for large-scale projects and highlights the need for proper methodology and risk management strategies. Furthermore, it explores various types of funding needed to execute the project successfully.

Running head: CASE STUDY: OUR LANGUAGE IS IMPORTANT
Case Study- Our language is important
Name of the Student
Name of the University
Author’s Note

1
CASE STUDY: OUR LANGUAGE IS IMPORTANT
Table of Contents
1. Risk Register................................................................................................................................3
2. Cost Baseline...............................................................................................................................5
2.1 Funding requirements............................................................................................................6
Bibliography....................................................................................................................................7

2
CASE STUDY: OUR LANGUAGE IS IMPORTANT
1. Risk Register
PROJECT RISK & OPPORTUNITY REGISTER
Risk / Opportunity Identification Risk & Opportunity Analysis Post Treatment Risk & Opportunity
Analysis
Numb
er
Date
Logge
d
Raised
By
Statu
s
Type Description
(Cause/Event/Eff
ect)
Proximit
y
Category Likeliho
od
Consequen
ce
Level
(pre
treatmen
t)
Treatme
nt
Respons
e
Treatmen
t
Treatme
nt
Update
Owner Residua
l
Impact
Likeliho
od (post
treatmen
t)
Consequen
ce (post
treatment)
Level
(post
treatmen
t)
1 05.09.1
7
Michell
e,
Goutha
m
Adani
Activ
e Threat
The signboard that
is mainly designed
for promoting the
different
traditional
languages are not
installed properly
due to some
technical issue and
as a result the
project managers
as well as other
stakeholders faces
difficulty in
accomplishing the
project objective
1 May,
2018 (As
the
delivery
of goods
from the
supplier
is done
on that
day) Finance/
Procurement Likely Moderate High Reduce
The
signage
board
must be
installed
with the
help of
most
experience
d project
stakeholde
rs so that
it can be
easily
installed
with the
project
without
any
difficulty
17.6.18
Project
Manag
er
It
mainly
creates
impact
on the
project
Unlikely Moderate Medium
2 10.09.1
7
Michell
e
Activ
e Threat
The information
about the
promotion of the
traditional
language is not
well
communicated to
the different staff
members as well
as to the students
of the CQU
university which
generally creates
discrimination
within the campus
of CQU
Soon Information/ICT Possible 4.Major Medium Reduce
The
project
needs as
well as
objectives
must be
well
circulated
within the
campus of
CQU so
that most
members
from the
college
participate
in the
promotion
of the
languages
20.7.18
Project
Manag
er
It
impacts
the staff
as well
as
students
of CQU
universi
ty
Unlikely Minor Low
3 18.09.1
7
Michell
e
Activ
e
Opportuni
ty
The budget which
is allocated for the
completing the
entire project is
found not be
sufficient due to
incorporation of
number of other
activities that
would be helpful
in making the
entire project more
successful
After
effective
project
completi
on
Finance/
Procurement Unlikely Minor Low Accept
Proper
estimation
of the
budget is
made by
preparing
the project
plan
properly
so that the
project
des not
face
budget
scarcity
during
progress.
Complete
Project
Manag
er
No
impact
Unlikely Significant Low

3
CASE STUDY: OUR LANGUAGE IS IMPORTANT
2. Cost Baseline
WBS Task Name Feb March April May June July Aug Sep Oct Nov Dec Jan
1 Start of the project
plan
2 Project Management
2.1 Maintenance and salary
staff salary 800 700 600 800 700 600 500 600 500 500 500
2.2 Suppliers cost 5000 2000 1000 3000 4000 2000 1000 1000 1000
2.3
Cost of the meeting that
is taken for making
progress in the project
500 1400 350 200 200 100 300 100 250
3 Campus Signage
3.1 Designing signage
3.1.1 Preparation of design 1300 1000 1500
3.1.2 Prototype designing 1700 1900 2000
3.2 Production of signage
3.2.1 Resource purchase 2000 300 900 3000
3.2.2 Signage creation 700 2000 3000
3.3 Installation of signage
3.3.1 Signage circulation 600 2100 1800
3.3.2 Signage construction 2000 1000 3000
4 Training 1700 1100 1400
5 Project plan
development
5.1 Orders good 2000 1000 2000 1200
5.2 Local language
promotion 400 600 700
5.3 Maintenance of
documents 200 300 200 500
6 Signs installation
6.1
Signage installation
within the CQU campus 2000 2500 1800
6.2
Waterfall model
selection for the project 2000 2500
Total ($) 3300 2900 8800 12850 12600 5900 8100 12500 5200 5650 6800 1500
Cumulative total ($) 3300 6200 15000 27850 40450 46350 54450 66950 72150 77800 84600 86100

4
CASE STUDY: OUR LANGUAGE IS IMPORTANT
2.1 Funding requirements
The various types of funding related requirement are illustrated below:
Activities Funding required
Project plan initiation meeting $18,000
Installation of signage board $18,000
Printing of signage board $10,000
Proper support and training $17,000
Management reserve $17, 000
Creation of proper methodology
of waterfall
$17,000
Total $95,100

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CASE STUDY: OUR LANGUAGE IS IMPORTANT
Bibliography
Chance, D. M., & Brooks, R. (2015). Introduction to derivatives and risk management.
Cengage Learning.
Cherkaoui, K., Baptiste, P., Pellerin, R., Haït, A., & Perrier, N. (2017). Proactive tactical
planning approach for large scale engineering and construction projects. The Journal
of Modern Project Management, 5(1).
Crawford, J. K. (2014). Project management maturity model. CRC Press.
Fan, Y., Thomas, M., & Anantatmula, V. (2014). A Longitudinal Study of the Required
Skills of Project Managers. The Journal of Modern Project Management, 1(3).
Glendon, A. I., Clarke, S., & McKenna, E. (2016). Human safety and risk management. Crc
Press.
Hopkin, P. (2017). Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Narbaev, T., & De Marco, A. (2017). Earned value and cost contingency management: A
framework model for risk adjusted cost forecasting. The Journal of Modern Project
Management, 4(3).
Pinfield, S., Salter, J., & Bath, P. A. (2016). The “total cost of publication” in a hybrid open‐
access environment: Institutional approaches to funding journal article‐processing

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CASE STUDY: OUR LANGUAGE IS IMPORTANT
charges in combination with subscriptions. Journal of the Association for Information
Science and Technology, 67(7), 1751-1766.