1. Prepare and print a one-page cost model for the project, similar to the provided in Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $20/hour for yourself(the oroject manager)and team members(Kim, Ashok, anfd Alfreda). You will pay Bobby, your IT guy, $30/hour.The project will fund refreshments for the four shark tank like events and prizes for the winners, at a cost of $1,000 for each event. 1.1 Project management 1.2 Hardware(3 laptops and Internet access for Kim, Ashok, and Alfreda) 1.3 Software 1.3.1 Outsourced 1.3.1.1 Domain name and site hosting 1.3.1.2 Donation acceptance feature of website 1.3.1.3 Video creation for website 1.3.2 In-house Development 1.3.2.1 Guidelines and templates for events 1.3.2.2 Acceptance of ideas for needed new products or services 1.3.2.3 Custom site for 200 events 1.3.3 Testing 1.4 Bussiness Plan 1.4.1 Internal labor 1.4.2 Legal information/assistance 1.5 Travel 1.6 Events 1.6.1 Internal Labor 16.2 Consultant Labor 1.6.3 Refreshment 1.6.4 Prizes
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1. Prepare and print a one-page cost model for the project, similar to the provided in Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $20/hour for yourself(the oroject manager)and team members(Kim, Ashok, anfd Alfreda). You will pay Bobby, your IT guy, $30/hour.The project will fund refreshments for the four shark tank like events and prizes for the winners, at a cost of $1,000 for each event.
1.1 Project management
1.2 Hardware(3 laptops and Internet access for Kim, Ashok, and Alfreda)
1.3 Software
1.3.1 Outsourced
1.3.1.1 Domain name and site hosting
1.3.1.2 Donation acceptance feature of website
1.3.1.3 Video creation for website
1.3.2 In-house Development
1.3.2.1 Guidelines and templates for events
1.3.2.2 Acceptance of ideas for needed new products or services
1.3.2.3 Custom site for 200 events
1.3.3 Testing
1.4 Bussiness Plan
1.4.1 Internal labor
1.4.2 Legal information/assistance
1.5 Travel
1.6 Events
1.6.1 Internal Labor
16.2 Consultant Labor
1.6.3 Refreshment
1.6.4 Prizes
2. Using the cost model you created in Task 1, prepare a cost baseline by allocating the costs by WBS for each month of the project.
3. Assume that you have completed three months of the project. The BAC was $120,000 for this six-month project. You can also make the following assumptions:
PV = $60,000
EV = $55,000
AC = $50,000
a. What is the cost variance, schedule variance, cost perfomance index(CPI), and schedule performance index (SPI) for the project?
b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?
c. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing betteror worse than planned?
d. Use the SPI to estimate how long it will take to finish this project
e. Sketch an earned value chart using the information from your answer to parts a through. . Use figure 7-5 as a guide
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