Project Management: Cost and Quality Management Plans

Running head: PROJECT MANAGEMENT
Project: Bungalow Project
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Table of Contents
Part B: Cost and Quality management plans..............................................................................3
1. Cost management plan.......................................................................................................3
1.1 Project cost estimate.....................................................................................................3
1.2 Project budget baseline................................................................................................4
1.3 Tools and techniques that are used...............................................................................4
1.4 Justification for the budgetary plan..............................................................................6
2. Quality management plan..................................................................................................7
2.1 Quality roles and responsibilities.................................................................................7
2.2 Quality planning approach...........................................................................................8
2.3 Quality assurance approach..........................................................................................8
2.4 Quality control approach..............................................................................................8
2.5 Quality improvement approach....................................................................................9
References................................................................................................................................10

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PROJECT MANAGEMENT
Part B: Cost and Quality management plans
1. Cost management plan
1.1 Project cost estimate
The cost estimate for the project is provided in the table below:
Task Name Duration Cost
The Bungalow Project 136 days $ 231,000.00
Clear ground 2 wks. $ 14,600.00
Lay foundation 3 wks. $ 18,000.00
Build dwarf walls 2 wks. $ 9,800.00
Over site concrete 1 wk. $ 5,600.00
Floor joists 2 wks. $ 8,200.00
Main walls 5 wks. $ 28,000.00
Door and Window and frame 3 wks. $ 12,600.00
Ceiling joists 2 wks. $ 8,400.00
Roof timbers 6 wks. $ 25,200.00
Tiles 2 wks. $ 10,800.00
Floorboards 3 wks. $ 12,900.00
Celling boards 2 wks. $ 7,800.00
Skirting 1 wk. $ 3,800.00
Glazing 2 wks. $ 8,000.00
Plastering 2 wks. $ 6,600.00

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PROJECT MANAGEMENT
3 wks. $ 12,600.00
Plumbing and heating 4 wks. $ 15,600.00
Painting 3 wks. $ 22,500.00
1.2 Project budget baseline
June 2018
July 2018
August 2018
September 2018
October 2018
November 2018
December 2018
January 2019
February 2019
$ 0.00
$ 10,000.00
$ 20,000.00
$ 30,000.00
$ 40,000.00
Budget baseline
Cost
Figure 1: Budget Baseline
(Source: Created by Author)
1.3 Tools and techniques that are used
The tools and techniques that can be utilized for estimating the cost of the project are
as follows:
Expert Judgement: It generally utilizes the knowledge as well as experience of the
experts who are involved with the project for estimating the cost of the project successfully
(Fayard et al., 2014). It is found that this technique can take number of factors into account
and thus it can be biased.