Project Cost Baseline and Communication MatrixOutcomes addressed in this activity:Unit Outcomes:Determine the project budget and baseline.Plan for project communicationsCourse Outcome:IT401-3: Create artifacts to effectively plan and acquire project human resources.GEL-4.06: Critically analyze the dynamics of human relationships.PurposeFor this Assignment, you will first define the cost baseline and create a communication matrix for the Garage Apartment project case.Assignment InstructionsThis week’s Assignment comes in two parts with two deliverables: A project cost baseline in the form of a cumulative cost curve or S-Curve also known as the Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) and a Project Communications Matrix. Review the Garage Apartment Project case. The Garage Apartment Project covers building a two-car garage with an apartment/office on the second floor on your existing lot in accordance with applicable building codes.Assignment RequirementsFor part one, look over the file, “Building the BCWS.xls” and think through how to go about building your budget or spend plan over the life of the project. Calculate out your incremental expenditures in labor, material, and equipment. Use a rule of thumb that whatever your total labor cost will be, then your material and equipment together will equal the same amount. As you work more projects, you will find this to be true. Ever wonder why construction contractors want 50% of the total estimate up front and the remainder when the job is done? It’s because they have to pay for the material and equipment before they can start work. They are banking on you to pay the labor at the end of the project. Now plan out your budget, build your cumulative costs, and use your spreadsheet to graph the S-Curve or Baseline. Be sure to label your Estimation at Completion (EAC). At this point, it is only an EAC. Later it will become the Budgeted at Completion (BAC) should your sponsor approve the project and for what amount.Now for part two. Look over the grading rubric. Open the Communication Matrix Template and the project charter completed earlier in the course, Analyze the stakeholders from the charter and how stakeholders will be categorized or grouped as well as the level of impact they may have based on their power, influence, and involvement in the project. Understanding the stakeholder relationships will highlight the concerns, level of involvement, and communication management strategy for each stakeholder Identify all of your key stakeholders, and determine the types of information that should be communicated such as (but not limited to) project status, permit status, project risks, project issues, budget, schedule, and work completed. Consider the decision-making power of each stakeholder. Determine the frequency, the method, and the timing for this information and complete the communication matrix for the project.There are examples in the template to follow, but these need to be removed and replaced with the requirements for the Garage Apartment.