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This is an assignment that focuses on Project Budgeting and Project Management Scheduling. This paper will use MS project as a deliverable for the estimation.
Project Budgeting and Project Management Scheduling
Introduction Estimating project budgets is far from an exact science. Firstly, many of us have heard of projects running over budget. Why is this? Why do we consistently forecast low? Then, there are many reasons for this inconsistency. This include improper funding at the beginning of the project to taking shortcuts that should never have been taken. The project management schedule helps you and your project team evaluate progress and assess whether or not the project will be completed by the deadline. It is also a way to identify bottlenecks in the process so you can creatively reallocate resources and adjust timelines to ensure the project remains on time and within budget.
Option A: Based on the analysis completed by a task force at Cosmo, Inc., the marketing department must develop, implement, and test a new marketing campaign focused on maintaining current customer levels and increasing their customer base through the utilization of new technology. Refer to the Cosmo, Inc. Business Case document in the Resources for more information. Your Role As the project manager, you are responsible for forecasting and completing the cost budget. Additionally, to also manage the project’s schedule.
• Develop a project cost (budget) section. Then, prepare a cost estimate for the project by identifying the costs of each task and create categories to prioritize project expenditures. Prepare a preliminary budget using the cost estimate for your selected project. o Note: Copy and paste the Summary Table and Comments into the Project Management Cost (Budget) section of the template.
Project Budgeting and Project Management Scheduling
• Subsequently, develop project management schedule section. This should also identify the time frames within which the costs will be incurred. o Note:
Link your MS Project timeline that meets project duration requirements.. Identify project stakeholders and roles and responsibilities for these sections of the project management plan template. Additionally, using your Work Breakdown Schedule and MS Project, identify the activities that must be performed to produce the project deliverables. Also include the following as part of the Project Management Schedule section of the template:
• Summarize the intent of using a project schedule for the selected project. • Develop a MS Project plan for your project schedule. Include an introduction and link into this section of your plan. Create a Gantt chart showing: o Resources assigned to each task. However, Limit project tasks to 10 business days or less. Shorter task durations make it easier to assess project progress. Provide additional amplifying information about the schedule in your Project Plan.
• Lastly, utilize your Project Management Plan Template. • References: There is no set number of references required for this assessment.
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