RACI_Chart_-_Types_of_Cost_Exercise

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Nov 24, 2024

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RACI CHART/ TYPES OF COST EXERCISE Part 1 Activities Local Governmen t Community Organization s Renewabl e Energy Providers Low- Income Households Project Manager Project Team 0.0 Project Name: Connection to Renewable Energy for Low- Income Households via the Solar for Everyone Initiative. 1.0 Identify Potential Locations for Solar Panels R I C I A I 1.1 Gather Data on Low-Income Households in Target Region I A R R I A 1.2 Research Local Government Policies and Incentives for Renewable Energy Projects C R A I I I 1.3 Meet with Community Organizations to Discuss Possible Partnerships and Community Needs I I I R I A 2.0 Develop a Solar Panel Distribution Plan and Timeline C I R R A I 2.1 Analyze Data on Low-Income Household Locations and Energy Usage C I R R A I 2.2 Collaborate with Renewable Energy Providers to Establish Distribution Plan C I R R A I 2.3 Communicate Distribution Plan and Timeline to Local Government and Community Organizations C R R I R A 3.0 Implement Solar Panel R C I R A I

RACI CHART/ TYPES OF COST EXERCISE Installation 3.1 Procure Solar Panels from Renewable Energy Providers R C I R A I 3.2 Secure Permits and Approvals from Local Government for Installation R I I C A I 3.3 Partner with Community Organizations to Recruit and Train Low-Income Household Volunteers for Installation I C I R I A 4.0 Conduct Solar Panel Installation and Post- Installation Inspections and Maintenance R I C A I I 4.1 Oversee Solar Panel Installation Process and Ensure Compliance with Safety and Quality Standards C I C A I C 4.2 Perform Inspections to Ensure the Proper Functioning of Solar Panels and Address any Issues C I A C I A 4.3 Train Low-Income Household Volunteers on Basic Solar Panel Maintenance and Troubleshooting C I C A R A 5.0 Monitor and Track Energy Savings for Low-Income Households A R C R A A 5.1 Collect Data on Energy Usage and Savings from Low-Income Households A R C I A C 5.2

RACI CHART/ TYPES OF COST EXERCISE 5.3 Analyze Energy Savings and Make Adjustments to Distribution and Installation Plans as Needed C R I I A I 6.0 Report Energy Savings to Local Government and Community Organizations for Accountability and Future Funding Purposes R A I I I I 6.1 Deliverable 6: Evaluate Project Success and Determine Areas for Improvement A A I R C I 6.2 Solicit Feedback from Stakeholders and Low-Income Households on Overall Experience and Effectiveness of Project I I C A I I 6.3 Develop Strategies for Improving Future Projects and Implement Changes as Needed R I A R C A

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RACI CHART/ TYPES OF COST EXERCISE Explanation/Justification for Selected Key Deliverables and Activities Deliverable: Develop a Solar Panel Distribution Plan and Timeline. Activities: 2.1 Analyze Data on Low-Income Household Locations and Energy Usage, 2.2 Collaborate with Renewable Energy Providers to Establish Distribution Plan, 2.3 Communicate Distribution Plan and Timeline to Local Government and Community Organizations. For each of these activities, the roles were assigned based on each stakeholder's specific expertise and responsibilities. For Activity 2.1, the stakeholders were assigned the parts of a Collaborator (SH 2), who has a strong understanding of the community needs and can provide input on potential locations for solar panel distribution, and a Researcher (SH 3), as they have the expertise in analyzing data and determining energy usage patterns of low-income households to identify the most suitable locations for solar panels. For Activity 2.2, the stakeholders were assigned the roles of a Collaborator (SH 2), who can provide insights on community needs and priorities, and a Renewable Energy Provider (SH 3), who has expertise in renewable energy and can help develop an effective distribution plan that aligns with the community's needs and available resources. For Activity 2.3, the stakeholders were assigned the roles of a Communicator (SH 1, SH 2, SH 4), as they will be responsible for communicating the distribution plan and timeline to the local government and community organizations. The Project Manager (SH 5) is also assigned to this activity as they oversee all communications related to the project. Overall, the roles were assigned based on each stakeholder's expertise and responsibilities to ensure a collaborative and effective approach to developing and communicating the solar panel distribution plan. By involving all key stakeholders, we can ensure that the project addresses community needs and aligns with their priorities, utilizing renewable energy providers' expertise to create a sustainable and impactful solution.

RACI CHART/ TYPES OF COST EXERCISE EXAMPLE Fixed: 1. Fixed costs are “costs that remain the same regardless of the size or volume of work” (Kloppenborg 2019, p. 331) 2. Rental of paint sprayer 3. The paint sprayer for the home remodeling project will be a fixed cost of “x” amount per time rented “y.” The price for the rental will not fluctuate if it is used more or less during the rental period. Fixed: 1. A fixed cost is a cost that does not change with the level of activity or output of a project, meaning that it remains constant regardless of the volume of goods or services produced (Kloppenborg 2019). 2. Rent for project office space 3. The cost of renting a project office space remains the same regardless of the number of projects or the amount of work produced. It is a fixed cost because it is not affected by project output or activity changes. Variable: 1. A variable cost is a cost that varies directly with the level of activity or output of a project, meaning that it changes based on the volume of goods or services produced (Kloppenborg 2019) 2. Cost of raw materials 3. The cost of raw materials is variable because it increases or decreases as the amount of produced goods changes. The cost will increase as more materials are needed to create more goase; the price will reduce when fewer materials are required for less output. Direct: 1. Direct cost is a cost that can be identified specifically with a particular project or activity and can be traced to that project (Kloppenborg 2019). 2. Raw materials 3. These materials are essential for construction and directly contribute to the end product. Indirect: 1. Indirect costs, also known as overhead costs, are those that are not directly related to the production of goods or services but are necessary for the overall operation of a project or organization (Kloppenborg 2019) 2. rent, utilities, and administrative expenses. Project management software 3. project management software is considered an indirect cost as it is not directly involved in producing the end product (building).

RACI CHART/ TYPES OF COST EXERCISE Recurring: 1. Recurring costs are expenses incurred regularly, such as monthly or annually ( Portny & Portny, 2022). 2. Cost of building maintenance 3. The cost of building maintenance, such as cleaning and repairs, would be considered a recurring cost in the construction project as these are regular expenses that occur throughout the lifespan of the building. Nonrecurring: 1. Nonrecurring costs are one-time expenses that are not expected to happen again ( Portny & Portny, 2022). 2. Cost of construction equipment 3. The cost of construction equipment, such as cranes and bulldozers, would be considered a nonrecurring cost in the construction project as it is a one-time expense to purchase or rent the equipment needed. Regular: 1. A ccording to the textbook, regular costs refer to recurring and predictable expenses essential to an organization or project ( Venkataraman & Pinto, 2023). 2. Salaries for project team members 3. The salaries for project team members would be considered a regular cost because they are essential to the project's operation and do not vary based on the level of activity ( Venkataraman & Pinto, 2023). The project team members must complete the work regardless of the speed or pace at which the project is carried out, making their salaries a fixed and necessary expense. Expedited: 1. Expedited costs refer to expenses incurred when a project is sped up or rushed to meet a tight deadline or schedule ( Venkataraman & Pinto, 2023). These costs are usually higher than regular, including overtime pay, rush fees, or premium resource pricing. 2. Overtime pay for project team members 3. To meet an expedited timeline, the project team may need to work extra hours and be compensated with overtime pay. This cost specifically fits the definition of an expedited cost because it is a higher expense than the regular cost for labor to speed up the project and meet a tight deadline. Internal: 1. Internal costs refer to expenses incurred within an organization or project and controlled by the organization or project manager ( Kerzner, 2022). These costs can include salaries, equipment, and supplies. 2. Software for project management 3. Purchasing software for project management would be considered an internal cost because it is an expense incurred by the organization and controlled by the project manager ( Kerzner, 2022). The organization can choose which External: 1. External costs refer to expenses incurred outside an organization or project that cannot be controlled by the organization or project manager ( Kerzner, 2022). These costs can include fees for consulting services, subcontractors, or materials purchased from external vendors. 2. Consulting fees for industry experts 3. The fees for consulting services from industry experts would be considered an external cost because they are incurred outside the organization or project and cannot be controlled by

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RACI CHART/ TYPES OF COST EXERCISE software to purchase and how much to spend, making it an internal cost. the project manager. The organization would need to pay the fees set by the external experts, making it an external cost. Lease: 1. lease costs refer to the expenses associated with renting or leasing equipment, properties, or other assets for a specified period of time (Kloppenborg 2019). 2. These costs include wages, salaries, benefits, and overtime pay. 3. The wages for construction workers would be considered a labor cost because of the expense associated with employing workers for a construction project. The cost can include salaries, benefits, and potential overtime pay, making it a labor cost. Purchase: 1. Purchase costs refer to the expenses associated with buying equipment, materials, or assets for a project(Kloppenborg 2019). 2. These costs are usually fixed but can vary in price depending on the type and quantity of items purchased. | Purchase of construction materials for a building project 3. Purchasing construction materials for a building project would be considered a purchase cost because it involves buying materials. The cost can vary depending on the type and quantity of materials purchased, making it a purchase cost. Labor: 1. Labor costs are the expenses associated with employing and compensating workers for their time and effort on a project (Kloppenborg 2019. These costs can include wages, salaries, benefits, and overtime pay. 2. Wages for construction workers 3. The wages for construction workers would be considered a labor cost because of the expense associated with employing workers for a construction project. The cost can include salaries, benefits, and potential overtime pay, making it a labor cost. Material: 1. Material costs refer to the expenses associated with purchasing and using materials for a project. These costs can include raw materials, supplies, and equipment needed for the project (Kloppenborg 2019. 2. Cost of bricks for a building project 3. The cost of bricks for a building project would be considered a material cost because it involves purchasing and using materials (i.e., bricks) for the project. The cost can vary depending on the quantity and type of material purchased, making it a material cost. Estimate: 1. According to the textbook, estimate costs refer to the projected or anticipated expenses for a project based on information and analysis available at a specific point in time (Kloppenborg 2019. 2. These costs can be used for budgeting and forecasting Reserve: 1. Reserve costs refer to a contingency or emergency fund set aside for unexpected events that may occur during the project. These costs are not included in the initial project budget and are used to cover any unforeseen expenses that may arise (Kloppenborg 2019.

RACI CHART/ TYPES OF COST EXERCISE purposes. Cost estimate for a marketing campaign 3. The cost estimate for a marketing campaign would be considered an estimated cost because it is a projected or anticipated expense for the campaign based on available information and analysis. 2. Contingency fund for unforeseen delays 3. The contingency fund for unforeseen delays would be considered a reserve cost because it is a fund set aside for unexpected events that may occur during the project. This cost is not initially included in the project budget and is used to cover unforeseen expenses, making it a reserve cost.

RACI CHART/ TYPES OF COST EXERCISE References Kerzner, H. (2022). Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance . John Wiley & Sons. Kloppenborg, T. J. (2019). Contemporary Project Management, 2e. South Western . Portny, J. L., & Portny, S. E. (2022). Project management for dummies . John Wiley & Sons. Venkataraman, R. R., & Pinto, J. K. (2023). Cost and value management in projects . John Wiley & Sons.

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