Budget+Effort

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Rutgers University *

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300

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Computer Science

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Dec 6, 2023

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2

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Week 5-7 Project Cost Management Professor Eddy Vertil Project Management Group 5- Chirag Anil, Gbeminiyi Oyeti, Stefano Gangemi, Tara Levine, Tonai Crockett Project Budget Project duration total: $781,000 February total: $8,000 March total: $462,800 April total: $26,482.35 May total: $108,308.12 June total: $40,936.77 July total: $114,272.70 August total: $16,000 All monthly totals were determined using a calendar and the assumption of a 5-day work week. Effort-Duration- Money 1) The Subject Matter Expert for a task has estimated that the task will take 80 hours of effort. She will be working on the task full time and she will have another person working with her half time. Assuming a 5-day work week, an 8-hour work day and the task starts on Wednesday. When will the task finish? (There are no holidays within the next month).
The task will be finished on Tuesday. The subject matter expert will complete 5, 8-hour work days starting Wednesday. While the half-time worker will assist with the tasks completing 2, 8- hour work days and one 4-hour work day during the same time frame. 2) A project task is estimated to require 200 hours to complete if done by the internal team. However, the internal team is partially allocated on other projects. It is estimated that the same task would take a temporary worker 250 hours. The internal labor rate is $73.50 per hour with all benefits. The temporary worker billing rate is $55.00 per hour. Which approach is the lowest cost? The approach with the lowest cost is hiring temporary workers for a total cost of $13,750. 3) One of the final tasks in a project was to translate the project materials into multiple languages for customers in other countries. The more languages that were translated at product launch, the higher the initial sales. The materials would eventually be translated as part of the sustaining activities, but the project was asked to do as many as it could. Each translation was estimated at 80 hours of effort. The labor rate for the translation team was $72.00 per hour. The project had initially estimated to provide material in 10 languages. However, there have been several overruns on other tasks and the translation budget has been cut by $15,000. How many languages will be available at product launch? With the budget cut by $15,000 the product launch will have 7 languages availa ble.
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