In this assignment, you will create a cost estimate for your project based on….
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In this assignment, you will create a cost estimate for your project based on the personnel you chose in Unit 2 (Please see attachment with Unit 2 assignment). You will also create a time-phased budget based on your Work Breakdown Schedule (WBS) from Unit 2. You may use Excel to do this assignment.
Your assignment is to:
Create a cost table noting the wage rate of the personnel and how many weeks the person is needed. You should use an overhead rate of 40%.
Create a Time-phased budget based on your work packages from your WBS.
There are samples you can follow for this on pages 275 and 276 in your textbook: Project Management: Achieving Competitive Advantage, by Jeffrey Pinto, 3rd Edition.
Developing the Cost Estimates and Budget
Personnel Level Rate Loaded Rate Labor-Weeks Needed Total Cost
Programmer Senior $35 $49/hr 20 $39,200
*40-hour work week
In this assignment, you will develop a schedule for your project based on your WBS in Unit 2.
Your assignment is to:
Create an activity duration table for each activity you have identified. You can use Word or Excel for creating this table.
Create a Gantt chart for your project indicating critical paths, total project duration and float. (A sample template is provided for you in MS Project.) Download it here. When you download this template for the Gantt chart, you must be using MS Project.
Note: You are not asked to create a Network Diagram for this lab assignment, but make sure you are familiar with this diagram used to indicate critical paths, total project duration and float.
There are samples you can follow for this on pages 344 - 346 in your textbook: Project Management: Achieving Competitive Advantage, by Jeffrey Pinto, 3rd Edition.
INTEGRATED PROJECT: Developing the Project Schedule Develop an in-depth schedule for your initial project based on the Work Breakdown Structure you have completed. You will need to complete several activities at this stage: (1) create an activity precedence diagram showing the network logic for each project activity you have identified; (2) prepare an activity duration table showing optimistic, likely, and pessimistic activity times for each task; and (3) create both the network diagram and Gantt charts for your project, indicating the critical path and all critical activities, total project duration, and all activities with float. As you prepare the activity precedence diagram, consider:
As you prepare the activity duration table, you might wish to set it up along the following lines:
Activity Optimistic Likely Pessimistic Est. Duration
A 6 9 18 10
B 3 8 13 8
Finally, in creating the network diagram and Gantt charts, use MS Project or a comparable scheduling software package