Project Assignment 2 Template
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School
Liberty University *
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Course
D08
Subject
Industrial Engineering
Date
Dec 6, 2023
Type
docx
Pages
6
Uploaded by PrivateQuetzalPerson927
Project Memorandum
Project Name: Red Zuma
Project Manager: Terra Justice
Date: 10/9/2023
Subject: Red Zuma Project Cost
Robin Lane,
Looking over all the data, we have gathered all the information regarding your questions regarding the project cost, cash flows, and the expense statements. Based on the calculations, the cost of this project is estimated to be around $903,699.10. The most expensive activity is the detailed product design being $190,168.30. The cash flow statement indicates that the project costs begin low and then builds upon each other each month. I hope this all helped with understanding where the direction of this project is gonging financially. Attached below are pictures of the cash flow statements. Sincerely,
Red Zuma Project Lead
Project Memorandum
Project Name: Red Zuma
Project Manager: [Your name]
Date: 10/09/2023
Subject: Red Zuma Project Milestone Status Report
Robin lane,
Looking at all the information, we have calculated below the estimates for what projects are on budget, over budget, and or possibly under budget along with date of when the project will be completed. Based on the states, the project is progressing off target of it’s main estimates. The project is $34,733 over budget. Activities that had some cost overruns were Product design, product design
selection and detailed product design. Activities that went under budget were the manufacturing prototypes and built prototypes. The EAC is estimated to be $973,00 and the VAC is estimated to
be negative $69,00. To continue the estimate, the project will be around $70,000 over budget. The TCPI indicates that for each dollar spent, we must make $1.08 if the project will reach the correct budget. The estimate date of completion is February 1
st
being 16 days behind schedule. With hand calculation, the project is about 50% complete. Some of our estimates are a little off target, but these priorities can be put on track to reach the final end goal for this project.
Signed,
Project Team Lead
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Project Memorandum
Project Name: Red Zuma
Project Manager: Terra Justice
Date: 10/09/2023
Subject: Red Zuma Project Schedule Recommendations
Entering the revised estimates for the finalized product design, finalized manufacturing process, and install production equipment and entering their calculations inti the earned value table we can see that the EAC has been reduced just a little. The expected completion date has been reduced by six days. So, the new completion date is now on the 21
st
of January. With spending only $25,000 on expediting shipping on production parts since the expediting of components does not reduce the project duration. When adjusting the start dates on the installation of production equipment manually because the parts are due to arrive five days early. Because of this, we need to adjust the celebration date to match the completion of the installation
of production equipment. The estimate of completion is not on the 14
th
of January of 2016 being three days before the original deadline. In case any delays fall past the deadline we need to postpone the celebration till after the Las Vegas show or scheduling overtime.
With all these adjustments, the project should be completed on schedule and within budget. Signed,
Project Team Leader
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