Explain your approach to estimating the project cost (e.g., top down, bottom up, etc.) and why that method was chosen.

MGMT 404 Project Management

WEEK 5: COURSE PROJECT DELIVERABLE: RESOURCE ALLOCATION AND PRELIMINARY BUDGET

DELIVERABLES:

Resource Allocation: MS project file (.mpp) updated with resource assignments and cost

Preliminary Budget: MS Word file with a report of project budget and resource management

For additional instructions and guidelines, refer to the Course Project Overview page, located under Introduction and Resources.

Part 1: Project Budget (Cost Management)

Explain your approach to estimating the project cost (e.g., top down, bottom up, etc.) and why that method was chosen.

Create a table that shows the original budgeted cost (from the charter) and the actual budgeted cost (side by side). Include line items for labor, materials, contract, equipment, travel cost, and so on.

Compare the budget from the charter to the final budget, and explain any variances that occurred from your original budgeted cost in the project charter and the current project cost. (Include your original estimated cost for the project.)

Explain your budget contingency plan and how much is budgeted for contingency.

Part 2: Resource Management

Explain the results of your resource assignments. Did you assign enough people to the project? Were there any resources overallocated? What approach will you take to fix any allocation problems?

Develop a plan to manage your project team, and define how you will motivate your team and how you will handle team conflicts.

What structure would you select for your project: functional, weak matrix, balanced matrix, strong matrix, or pure project? Why?

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