Project Budget, Schedule and Resources

Running Head: PROJECT MANAGEMENT
Project Budget, Schedule and Resources
Name of the Student
Name of the University

1PROJECT MANAGEMENT
1. Project Budget
The estimated project budget as per the deliverables is shown in the following table.
Task Name Cost
Upgradation of Oil Storage Facility $5,163,800.00 [TOTAL BUDGET]
Project Initiation Stage $266,400.00
Survey of the Site $51,000.00
Identification of the Issues and
Problems
$17,000.00
Call Team Meeting $4,000.00
Discuss the Issues $48,000.00
Find Possible Solutions $19,200.00
Discuss Project Feasibility $19,200.00
Prepare Initial Budget Estimate $38,400.00
Make Assumptions Regarding Project $38,400.00
Determine Project Constraints $19,200.00
Review Proposed Plan $4,000.00

2PROJECT MANAGEMENT
Approve Project $8,000.00
Project Planning Stage $144,600.00
Develop Business Case $48,000.00
Develop a Detailed Project Charter $14,000.00
Determine Project Scope $14,000.00
Develop Project Objectives $5,600.00
Prepare Project Work Breakdown
Structure
$2,800.00
Develop Gantt Chart $1,400.00
Estimate Project Schedule $1,400.00
Estimate Project Budget $1,400.00
Appoint Roles to Stakeholders $8,000.00
Release Tenders for Contract $10,000.00
Hire Contractors based on Lowest Bid $4,000.00
Contact Sponsor $9,600.00
Procure Project Budget $9,600.00
Provide Project Plan to the Contractor $2,800.00

3PROJECT MANAGEMENT
Initiate Project $12,000.00
Project Execution Stage $4,594,000.00
Works on Tank 1 $1,358,000.00
Relocation of Attached Structures
and Equipments
$120,000.00
Install Scaffolding $21,000.00
Install Cranes $46,000.00
Start Repair Work $21,000.00
Add Steel Patches $400,000.00
Add Steel Anchors $500,000.00
Cleaning of Tank $85,000.00
Repaint of the Tank $85,000.00
Remove Cranes $40,000.00
Remove Scaffolds $40,000.00
Works on Tank 2 $1,548,000.00
Relocation of Attached Structures $120,000.00

4PROJECT MANAGEMENT
and Equipments
Install Scaffolding $21,000.00
Install Cranes $46,000.00
Start Repair Work $21,000.00
Add Steel Patches $590,000.00
Add Steel Anchors $500,000.00
Cleaning of Tank $85,000.00
Repaint of the Tank $85,000.00
Remove Cranes $40,000.00
Remove Scaffolds $40,000.00
Works on Tank 3 $1,688,000.00
Relocation of Attached Structures
and Equipments
$120,000.00
Install Scaffolding $21,000.00
Install Cranes $46,000.00
Start Repair Work $21,000.00
Add Steel Patches $540,000.00

5PROJECT MANAGEMENT
Add Steel Anchors $540,000.00
Replace Main Supply Valve $150,000.00
Cleaning of Tank $85,000.00
Repaint of the Tank $85,000.00
Remove Cranes $40,000.00
Remove Scaffolds $40,000.00
Project Closing Stage $158,800.00
Project Handover $4,000.00
Review of the Entire Project $72,000.00
Project Documentation $14,000.00
Clearing of Payments and Dues $48,000.00
Stakeholder Signoff $16,800.00
Project Closing $4,000.00
While preparing this budget, the assumptions that have been made are as follows
(Kerzner and Kerzner 2017).