|Perfect Number of Pages to Order||5-10 Pages|
Assignment on Project Budget Analysis
Using the Project Management Plan template, create a Project Management Cost (Budget) and Project Management Schedule for Cosmos, Inc. or your chosen business.
Budgeting for a project is far from an exact science. Many of us have heard stories about projects that have gone over budget. What is the reason for this? Why do we always predict a negative outcome? This inconsistency can be attributed to a variety of factors, including insufficient funding at the start of the project and the use of shortcuts that should never have been used.
The project management schedule assists you and your project team in evaluating progress and determining whether the project will be completed on time. It’s also a good way to spot process bottlenecks so you can creatively reallocate resources and adjust timelines to keep the project on track and on budget.
Option A or Option B should be used for this assessment. It is not necessary to do both. Both options will be graded using the same scoring guide by your instructor.
Option A: As the next component of your Project Management Plan, use Cosmos, Inc. to develop a Project Cost Budget and Project Management Schedule. For more information, see the Cosmo, Inc. Business Case document.
Option B: As the next components of your Project Management Plan, use a project from your chosen business to develop a Project Cost Budget and Project Management Schedule.
You are in charge of forecasting, completing, and managing the project’s budget and schedule as the project manager.
To complete the Project Management Cost (Budget) component of the template for Options A and B, use the information from the previous assessment and your Work Breakdown Schedule:
Create a cost (budget) section for the project. Create categories to prioritize project expenditures and create a cost estimate for the project by identifying the costs of each task. Prepare a rough budget based on the cost estimate for your chosen project.
Note: In the Project Management Cost (Budget) section of the template, copy and paste the Summary Table and Comments.
Create a section for project management scheduling. The time frames within which the costs will be incurred should be identified.
Note: Make sure your Microsoft Project timeline is up to date and meets the project’s deadlines.
Identify the activities you must perform to produce the project deliverables using your Work Breakdown Schedule and Microsoft Project, and include the following in the Project Management Schedule component of the template:
Summarize why a project schedule is being used for the chosen project.
Create a Microsoft Project schedule for your project. In this section of your plan, include an introduction and a link. Make a Gantt chart that shows the resources that have been assigned to each task. Note: Project tasks should be completed in 10 business days or less. It is easier to assess project progress when task durations are shorter. In your Project Plan, if applicable, provide additional clarifying information about the schedule.
Tasks that come before them.
Project tasks, milestones, and other measurable, tangible, and verifiable outcomes or results that must be produced in order for the project to be completed.
Format for Delivery
Attach the most recent version of your Project Management Plan Template.
Please attach your Microsoft Project file.
Please upload your project budget file.
References: This assessment does not require a specific number of references. When possible, use scholarly or academic sources.
Format: Use the template’s Project Management Cost (Budget) and Project Management Schedule components.
Because the Project Cost (Budget) and Project Management Schedule are professional documents, they must adhere to the MBA Academic and Professional Document Guidelines, which include single-spaced paragraphs.
For references and in-text citations, use the APA style and format.
Length: Follow the template’s instructions, including the title and reference pages.
By completing this assessment successfully, you will demonstrate your proficiency in the following course competencies using the scoring guide criteria:
Analyze project management methodologies and frameworks (Competency 1).
Create categories to help you prioritize project costs.
Create a schedule that meets the project’s deadlines.
Competency 3: Examine how various project management frameworks are used.
Create a cost-budget section for the project.
Analysis of how leadership characteristics and behaviors affect project quality and success is competency #4.
Create a section for the project schedule.
Competency 5: Share project management requirements, opportunities, and strategies with a variety of stakeholders.
Communicate in a professional and consistent manner with the expectations of project management professionals.
Using the scoring guide and providing feedback, your course instructor will provide feedback as if he or she were the recipient of your deliverables at work. Before submitting this assessment, check the Project Budget and Project Management Schedule scoring guide to make sure you meet the grading criteria.
This test shows your ability to apply the knowledge and skills needed for an MBA learner in the workplace. This activity should be saved to your ePortfolio for future use in the workplace.