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Project Management Assignment - Costing System

   

Added on  2020-03-16

14 Pages1171 Words69 Views
NAME OF UNIVERSITYProject ManagementAssignment 1Name of Student

Project PlanTable of ContentsScope Statement..............................................................................................................................2Project goals and objectives........................................................................................................2The project requirements............................................................................................................2The project deliverables...............................................................................................................2Milestones....................................................................................................................................2Cost estimates..............................................................................................................................2Project Limitations.......................................................................................................................3Project acceptance criteria..........................................................................................................3Estimates..........................................................................................................................................3Accurate Analogous Estimation...................................................................................................3Parametric Estimation..................................................................................................................3Bottom-Up Estimation Technique................................................................................................3Stakeholder Management Plan.......................................................................................................4Work Breakdown Structure.............................................................................................................5Communication Plan........................................................................................................................6Risk Analysis.....................................................................................................................................7Procurement Plan............................................................................................................................8Gantt chart.......................................................................................................................................8Critical Path......................................................................................................................................9Critical Chain..................................................................................................................................10Cost Baseline..................................................................................................................................12References.....................................................................................................................................13Page 1 of 15

Project PlanScope StatementProject goals and objectivesThe goal of executing the project is to develop a costing system which can create the cash flowforecast, cost baseline, percentage complete proposal and earned value managementcalculations. The objective is to develop the system which can be developed in any software system like C#.The system must have the facility to enter data, to import data and import from the XML filestoo. The project requirementsFor the functioning of the product, few new systems need to be installed in the project. Weneed to procure server to run 30 client PCs, install Windows 10 in all PCs and finally add themto the existing network system. The costing software is required to be developed by asubcontractor.The project deliverablesThe deliverables are first of all delivering the project plan and then all other supportingdocuments like risk management plan, communication plan, procurement plan and otherplanning documents. Then procure the PCs, server and Windows 10, after that install all alongwith the developed software and implement them after the testing and finally provide trainingto the user.MilestonesStart Project: 16/Oct/2017Finalize sub-contractor: 21/Dec/2017Procure all items: 1/March/2018Go-Live: 4/April/2018Finish & handover: 9/May/2018Page 2 of 15

Project PlanCost estimatesSince the bottom-up estimation method provides the most accurate cost estimate, so the costestimate obtained by adding the unit cost of each resource assigned to the project is $ 532,174Project LimitationsProject needs to be developed in the budgeted time and cost with maintain the optimumquality standards and must meet the stakeholder’s requirement. Project acceptance criteriaThe project must satisfy all stakeholders’ need, like developing the system which should be easyto operate, easy to enter data, easy to produce the output and analyze. The system must besmoothly operable from all the 30 PCs without any operational issues. EstimatesAccurate Analogous Estimation The cost of developing the similar project by the same organization for developing thebudgeting system, where the entries are required to be done as per the preset file withdifferent sorts of BOQ items and once the entry is done the budget used to get reflected on allconnected PCs. So the cost of developing the project six months before with 10 PCs = $ 150,000So for this project with 30 PCs = $ 150,000 X 3 times X (15% ROM) = $ 517,500Parametric EstimationThe resources used to develop the budgeting system are similar to the current costing system(as discussed above). The total number of resource hours = 500 Man-Hours and the expenseswere $ 110,000. So the unit rate of each resource = $ 220 / Man-Hour.Hence, for the current project, required resource total 1920 Man-Hours multiplied by (unit rateX 15% ROM) = $ 110,000 X $ 220 X 1.15 = $ 485,760Bottom-Up Estimation TechniqueThe most accurate form of cost estimation, each resource is assigned to some or other activitiesand the unit cost of each resource will develop the bottom-up cost estimates. Page 3 of 15

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