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Project on Analysis of Australian Market

   

Added on  2020-04-07

13 Pages2011 Words34 Views
Running head: PROJECT MANAGEMENTProject ManagementName of the StudentName of the UniversityAuthor’s Note

1PROJECT MANAGEMENTTable of Contents1. Developing budget and illustrating details that are required for preparing budget................21.1 Project Budget..................................................................................................................21.2 Illustration of the assumptions which are made for budget preparation..........................32. Project schedule preparation and illustration of merits of different methods, tools andtechniques...................................................................................................................................32.1 Project Schedule...............................................................................................................32.2Illustration of merits of the tools, techniques and methods..............................................72.3 Comparison with different tool, techniques and methodologies......................................83. Estimation of project resources and identification of utilized tools and techniques..............93.1 Resource estimation.........................................................................................................93.2 Critical Path....................................................................................................................103.3 Tools and techniques used.............................................................................................11Bibliography.............................................................................................................................12

Running head: PROJECT MANAGEMENT1. Developing budget and illustrating details that are required for preparing budget1.1 Project BudgetThe project manager assumed that the budget that is needed for completing the project successfully is around $80,000.00.However it is identified that around $67,960.00 is required for completing all the project activities successfully within the specified timeand budget and $17,000.00 has been kept for material resources and for other additional purposes.Figure 1: Budget Sheet(Source: Created by Author)

Running head: PROJECT MANAGEMENT1.2 Illustration of the assumptions which are made for budget preparation The different types of assumptions that are made for budget preparation are asfollows:Requirement cost: The project manager analyzes the Australian market properly forpreparing the budget for different types of material resources that are required for repairingthe Australian storage facility. It is found that during preparing the budget for materialresources they assumes that the cost of the materials will not vary much in the coming futurein comparison to the cost that is estimated by them.Low chances of scope creep: It is assumed by the project manager that scope creepwithin the project will not occur and for this they analyzes the requirement of the projectproperly before project planning so that the chances of scope creep will become low.Budget needed for completing activities: The project manager estimated that thebudget, which is needed for repairing Australian storage facility, is around $80,000.Budget for risk minimization: The project manager estimated that $6,800 is requiredfor minimizing the risks that are mainly associated with the project.2. Project schedule preparation and illustration of merits of differentmethods, tools and techniques2.1 Project ScheduleTask NameDurationStartFinishRepairing Australian Storagefacility181 daysThu 21-09-17Thu 31-05-18 Project initiation phase17 daysThu 21-09-17Fri 13-10-17

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