Project Cost Estimation, Resource Levelling, and Gantt Chart Analysis

This assignment delves into various aspects of project management, including cost estimation, resource levelling, and Gantt chart analysis. It requires the student to evaluate the suitability of top-down and bottom-up estimation approaches, considering factors like project complexity and available information. The assignment also examines the impact of resource levelling on project schedules, completion dates, and potential cost implications. Furthermore, it explores the application of contingency funding and time buffers, assessing their role in mitigating risks and ensuring project success. Specific questions address the need for additional resources, the effects of schedule changes, and the interpretation of Gantt chart data. The student must also explain the project completion date and interpret visual representations within the project plan.

Q1b:
 Refer to SU3-21 (select 4 that are relevant)
 Appraise four (4) relevant conditions in deciding to use the Top-down or Bottom-up Estimate
approach for estimating the project cost.
 For each condition, explain the preferred approach and whether the approach is suitable to
SWL for RCS Project.
 Recommend the overall best approach
 Explain one estimation cost method to SWL.
 Answer in accordance to format
Q2b:
“Build respect and trust” & “establish common objectives” are not relevant.
Refer to SU2-32 and may elaborate on: “frequent review and status update”
Q3a: Answer in this format
 State the project completion date
 State any resource conflicts observed.
 E.g. Yes, there are conflicts observed. “what’s the name of conflict?”
Q3b: Answer in this format
 Evaluate and discuss the changes due to this resource levelling operation.
 Evaluate any effect due to this resource levelling operation.
 Determine any impact to the project completion date (i.e. Finish Date of Activity 1).
 For e.g. Activity no. 6  “what changes has been made?” etc.
Q3c: Answer in this format
 Discuss the changes and any effect due to this resource levelling operation.
 State what you observe on MS Project
 State any new project completion date

Q4ai: Answer in this format
 Explain your approach
 State these additional working days
 State the additional cost.
 Add the cost and days to Activity 9.
For example:
From the above figure, we can see that activity 14 has 2 days of free slack and 6 days total slack.
Total slack is the amount of time a task can be delayed without delaying the whole project while free
slack refers to the time the activity can be delayed without delaying the next activity. Hence, in this
case, by adding 2 more days to activity 14 will not delay the celebrations happening on 7 Aug.
But the extra 2 days requires a 4 engineer a day team but currently the project has only 2 engineers.
So there is a need to employ 2 extra engineer for 2 days. That would mean an extra of $200 x 2
engineers for 2 days would be $400 x 2 = $800.
Q4aii:
Please explain why the project completion date is 22 Dec 2016 and why is there a red man?
Shouldn’t it show something like “100%” for the activities in Gantt Chart?
For example:

Q4b:
 Refer to SU4-26 (contingency funding and time buffers)
 Don’t write blindly but application to case in question is very important