Waste Recycling: Cost and Quality Management Plan Report

This report presents a detailed cost and quality management plan for a waste recycling project, emphasizing the application of chemical engineering principles. It outlines various cost estimation techniques, including analogous, parametric, and bottom-up methods, with a focus on the bottom-up approach for its reliability. The report also details the tools and techniques used for project cost management, such as horizon planning, resource allocation, and vendor bidding analysis. Furthermore, it includes an earned value report to track project progress and performance. The quality management section covers project quality monitoring, objectives, and frequency of measurement, as well as the tools used, such as cause-and-effect diagrams and control charts. The report also addresses the roles of subcontractors and laborers, cost tracking and controlling methods, and ways to escalate project issues. The conclusion highlights the importance of a well-defined cost and quality management plan in mitigating risks and ensuring the successful implementation of the waste recycling project.

Running head: COST AND QUALITY MANAGEMENT PLAN
Cost and Quality Management Plan: Recycling waste
Name of the Student:
Name of the University:

1COST AND QUALITY MANAGEMENT PLAN
Table of Contents
Introduction......................................................................................................................................2
1. Project Cost Management plan....................................................................................................2
1.1 Ways to estimate cost............................................................................................................2
1.2 Tools and techniques used to manage cost of the project......................................................3
1.3 Total time estimated for managing cost.................................................................................4
1.4 Equipments considered..........................................................................................................4
1.5 Role of subcontractors and labours........................................................................................5
1.6 Cost tracking and cost controlling.........................................................................................5
1.7 Controlling Earned value, actual value and planned cost and cost performance matrix.......6
2. Project quality management plan.................................................................................................7
2.1 Project quality monitoring.....................................................................................................7
2.2 Objectives of quality monitoring...........................................................................................7
2.3 Frequency of the measurement..............................................................................................8
2.4 Plan taken for quality assurance............................................................................................8
2.5 Tools used for managing project quality...............................................................................8
2.6 Discussion on the ways through which issues be escalated..................................................9
Conclusion.....................................................................................................................................10
Bibliography..................................................................................................................................10

2COST AND QUALITY MANAGEMENT PLAN
Introduction
Waste recycling is referred to as a process which is used to convert waste products in new
and reusable material and useful objects. The materials those are generally converted used for
different household purposes and industrial purposes. This paper depicts the role of quality
management and cost management control plan used to avoid professional project practice
oriented risks. It has been assumed that if proper quality and cost management plan is
implemented considering various measurement factors then potential risks will be minimized and
resolves.
While introducing the concept of chemical engineering in development of a new business
idea, various entrepreneurial risks factors are identified. In order to identify, analyze, prioritize
and mostly avoid the risks factors accurate cost control and quality management plan for the
business are implemented in this paper. In order to prepare the cost management plan cost
baseline, actual value, earned value and cost variance are also depicted. Apart from that, quality
monitoring tools and techniques, its objectives and frequency of use, while implementing the
new business idea are also elaborated in this paper.
1. Project Cost Management plan
1.1 Ways to estimate cost
There are different processes or ways available that are used by the finance head or audit
department while implementing any new business plan. In order to implement the new idea of
chemical engineering in the small entrepreneurial business the different cost estimation
techniques that could have been applied are as follows:

3COST AND QUALITY MANAGEMENT PLAN
Analogous estimation: In those cases where limited amount of information are available
this type of cost estimation techniques are used. Therefore, it can be said that this approach fails
to produce reliable result for the business owners. However, the main reason for which some of
the small businesses undertake this technique for estimating cost are its lower application charge
and very quick result.
Parametric technique: This technique is applied using different historical information
but it mostly uses statistical data. The process take variables from different projects are apply
them on the current project to calculate the estimation value.
Three point estimation: In order to resolve bias, risks and different business certainties
this particular technique is used and the three PERT estimates through this application include
most likely cost, pessimistic cost and optimistic cost.
Bottom up estimation: This is one of the most appropriate but little time consuming
and costly technique.
While implementing the concept of chemical engineering to recycle waste products and
make them reusable the business owners should follow the most suitable cost estimation
technique in terms of bottom up estimation technique as it produces a reliable and accurate value.
1.2 Tools and techniques used to manage cost of the project
While estimating the cost of implementing chemical engineering in recycling wastes the
different tools and techniques to be used are as follows:
 Horizon planning
 Proper project duration development

4COST AND QUALITY MANAGEMENT PLAN
 Allocating resources (people, materials)
 Parametric estimation and expert judgments
 Vendor bidding analysis
1.3 Total time estimated for managing cost
The net cost assigned for this project is: $50,000. In order to accomplish the recycling
project within the budget of $50,000 the time frame must be followed appropriately by the
project and finance manager. The net time assigned at the initial phase for this project is 1st June,
2019 to 30th July, 2019. The entire project is divided into subpart and each project team members
are assigned for the different activities. It is the responsibility of the assigned members to
accomplish that particular activity within that timeframe only.
1.4 Equipments considered
The waste products can be categorized into electrical and electronic equipments, small
household appliances, medical devices, automatic dispensers etc. The equipments that are to eb
used for waste recycling include:
Trommel screens: It can work in lower energy, little operational cost and processes up to
100TPH. Its maintenance cost is low and offer multiple throughputs capabilities as well as sizing
options.
Fines screens: For both C&D and MSW application of Fines screen is beneficial. The
process of replacement become much easier due to its diameter cast disc design. The steep disc
works as a shield which prevents shaft wrapping. Option of multiple deck are also available for
this design outline.

5COST AND QUALITY MANAGEMENT PLAN
MSW bag openers: This is the other equipment can also be used by the small business to
implement chemical engineering concept for recycling waste products.
1.5 Role of subcontractors and labours
The roles and responsibilities of the contractors are as follows:
 Analyzing different management prcatices
 Selection f best management prcatices
 Identification of accurate tools and techniques requires for managing cost of the
waste recycling project
 Categorizing wastes and other materials
 To keep participating in the on job training process while working in the waste
management or waste recycling project
1.6 Cost tracking and cost controlling
During the project progress and ongoing phase the project owner must ensure that the
estimated preliminary cost is not exceeding or overrunning. The progress needs to be tracked
timely and respectively controlled. The best ways to track and control and the project cost
within preliminary estimation include proper project planning, professional level
communication, Timely and proper decision making, timely reporting or presenting project
status report to the project manager etc. It will increase the rate of Return on Investment,
resource productivity and commercial profit with minimum sales and outputs. The overall
economic stability of the business will also improve with this application.

6COST AND QUALITY MANAGEMENT PLAN
1.7 Controlling Earned value, actual value and planned cost and cost performance
matrix
Figure 1: Earned Value Report
(Source: Created by author)
Task Name Duration Resource Names Cost Actual Cost
Project schedule 37 days $5,880.0
0 $5,192.00
Project Feasibility Study 16 days $2,648.0
0 $2,648.00
Cost Benefit Analysis 2 days Alex Singh $320.00 $320.00
Project Definition 2 days Jane Doe ,John Smith $592.00 $592.00
Assign Resources 2 days Jane Doe $288.00 $288.00
Create Project Plan 7 days John Smith $1,064.0
0 $1,064.00
Create Communications Plan 2 days Kim Lee $240.00 $240.00
Project Kick-Off Meeting 1 day Jane Doe $144.00 $144.00
Create Phase 1 Plan and Definition 11 days $1,584.0
0 $1,584.00
Phase 1 Execution Kick-Off 1 day Jane Doe $144.00 $144.00
Communicate Phase 1 Progress 5 days Jane Doe $720.00 $720.00

7COST AND QUALITY MANAGEMENT PLAN
Change Control Processes 4 days Jane Doe $576.00 $576.00
Close Phase 1 1 day Jane Doe $144.00 $144.00
Create Phase 2 Plan and Definition 5 days $960.00 $960.00
Phase 2 Execution Kick-Off 2 days Jane Doe ,John Smith $592.00 $592.00
Communicate Phase 2 Progress 1 day Jane Doe $144.00 $144.00
Change Control Processes 2 days Chris Johnson $224.00 $224.00
Close Phase 2 0 days Chris Johnson $0.00 $0.00
Project Delivery 5 days $688.00 $0.00
Project Closure Meeting 1 day Chris Johnson $112.00 $0.00
Performance Appraisal 1 day Chris Johnson $112.00 $0.00
Project Feedback Form 1 day Production Team $176.00 $0.00
Project Debrief Report 2 days Jane Doe $288.00 $0.00
2. Project quality management plan
2.1 Project quality monitoring
The project quality monitoring is referred to as process through which quality of the
waste recycling project can be monitored. Continuous monitoring will improve the project
quality and help the project manager to avoid over allocation of resources and overrunning
budget as well.
For this project quality monitoring is required because it will help the project manager to
implement changes respectively with the changing business environment. The potential
challenges of time, cost and scope can be successfully avoided with quality monitoring.
Implementation of change management plan becomes easier. Financial risks can be successfully
avoided with frequent quality monitoring.
2.2 Objectives of quality monitoring
 To avoid potential risks that might interrupt the success line of the waste
recycling project

8COST AND QUALITY MANAGEMENT PLAN
 To implement continuous improvement plan for the project
 To avoid over allocation of resource and time issues
 To prevent overrunning project budget than the primary estimation
2.3 Frequency of the measurement
The quality of the project is required to be monitored with the completion of each project
activity. However for this particular project the quality monitoring plan should be implemented
after assigning the resources, implementing the change control processes and before the final
delivery of the project.
2.4 Plan taken for quality assurance
In order to assure that quality of the project is meeting all objectives are as follows:
 Identification of organizational goal
 Identification of Critical Success Factors
 Identification of external and internal consumers
 Gathering feedback from the consumers
 Implementing continuous improvement planning
 Selecting quality management software
 Measurement of the final result
2.5 Tools used for managing project quality
In order to manage the quality of the waste recycling project the different tools that can
be used frequently are as follows:
 Cause and effect diagram

9COST AND QUALITY MANAGEMENT PLAN
 Flow chart
 Scatter diagram
 Histogram
 Inspection
 Statistical sampling
 Control charts
 Pareto chart with Pareto analysis
2.6 Discussion on the ways through which issues be escalated
In order to eliminate the identified issues the processes must be incorporated while
implementing the project and also during implementation of the cost management plan and
quality management plan. The remedies are as follows:
Open communication: The project coordinators, subcontractors, manager and labours
should use open communication while interacting to each other. It will make sure that all the
creativities and processes and innovative ideas are being shared among the project team
associates successfully.
Time training and development: While implementing the chemical engineering
knowledge and ideas in the waste treatment or recycling plan the project team must gain all
needful knowledge from surroundings. In other words, the project manager should arrange
timely training and development program for the project associates.
Proper cost management and quality monitoring: The project manager should use
bottom up cost estimation technique plan and weekly quality monitoring to successfully
implement the project within assigned time of 50 days and cost of $50,000.

10COST AND QUALITY MANAGEMENT PLAN
Conclusion
From the overall discussion it can be concluded that in order to implement the waste
recycling project using the concept of chemical engineering will be accomplished if proper cost
and quality management plan is developed. Both cost and qualities of the project are measured
using proper tools and techniques. As the project is divided into two phases therefore,
completion of each phase a review or monitoring became essential. The project team required
frequent monitoring of the plan to make sure that no such issues of over allocation of resources
or overrunning budget is resulting. Quality assurance plan considering the equipment costs,
subcontractors cost and labour rate/hour are also estimated to deliver a quality project to the
clients. It is determined that conceptual, theoretical and practical development of cost
management and quality management plan will help the business to resolve the primary risks and
uncertainties those are identified.

11COST AND QUALITY MANAGEMENT PLAN
Bibliography
Ahern, T., Leavy, B., and Byrne, P. J. 2014. Complex project management as complex problem
solving: A distributed knowledge management perspective. International Journal of Project
Management, 32(8), 1371-1381.
Cohen-Vogel, L., Tichnor-Wagner, A., Allen, D., Harrison, C., Kainz, K., Socol, A. R., and
Wang, Q. 2015. Implementing educational innovations at scale: Transforming researchers into
continuous improvement scientists. Educational Policy, 29(1), 257-277.
Conforto, E. C., Salum, F., Amaral, D. C., da Silva, S. L., and de Almeida, L. F. M. 2014. Can
agile project management be adopted by industries other than software development?. Project
Management Journal, 45(3), 21-34.
Conger, S. 2015. Six sigma and business process management. In Handbook on Business
Process Management 1 (pp. 127-146). Springer, Berlin, Heidelberg.
First, M. B. 2016. Adopting a continuous improvement model for future DSM revisions. World
Psychiatry, 15(3), 223-224.
Heldman, K. 2015. PMP project management professional exam deluxe study guide: updated for
the 2015 Exam. John Wiley and Sons.
Hornstein, H. A. 2015. The integration of project management and organizational change
management is now a necessity. International Journal of Project Management, 33(2), 291-298.