Cost estimate Budget and Cost management Plan
As project manager for the DeepMining Company CMP take the work completed to this point, funding allocation in the case itself and the work completed during weeks 2 and 3, and arrive at project costs for each of the tasks in the WBS. Note that this is the WBS created by your team as a deliverable for Week 2's assignment. You will then: Incorporate instructor comments and suggestions provided in your graded WBS. Flow those costs upward to each level of the WBS, right up to Level 1 (the CMP project) of the WBS. You will be held accountable for the allocation of these funds and will need to manage this allocation smartly in the coming weeks. Total cost must align with allocated funds for the DeepMining Company CMP as detailed in the case material provided in Week 1. This will be your allocated budget (pending any approved changes by your sponsor) for the coming weeks. Provide a cost breakdown as follows: 1. Each element in the WBS created in Week 2 2. Flow these costs upward to the next higher level in the WBS 3. Aggregate all costs up to the Project Management Office and other top level elements in the WBS 4. Arrive at a final budget including risk / contingency and management reserves - this will be important later 5. The final budget can't exceed the project budget defined during Week 1 in the completion of the Project Charter or found in the body of the case itself 6. If there are assumptions define them 7. If there are key risks define them (please ensure you use the "if" "then" "because" format for your risk statements) 8. Allocate the risk reserve to the appropriate element in the WBS For how to estimate the Earned Value (EV) in your project see "How to Determine a Task's Earned Value" in the Required Readings. Important Note Think of this as your final budget allocation in line with the project funding outlined in the DeepMining Company CMP and the Project Charter - all going to senior management (your instructor) at DeepMining to show where funds are being allocated on the project to meet their expectations, the project requirements and achieve project success. Part 1 - Cost Estimate/Budget Estimating Template/Example Template (Excel): Provided as a worksheet to complete some or all of your calculations and assessments. Please use this template. Ensure all tabs on the provided template are completed. (Learning objectives 4A, 4B) CMP Budget (including risk reserve) Identified Risks and Contingency Plan Costs Assumptions Part 2 - Cost Management Plan (CMP)
You'll get a 110.3KB .ZIP file.