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MBA FP6231 McAndrewVanessa Assessment4 Attempt2 Details

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Project Cost Estimate
Vanessa McAndrew
MBA- FP 6231 U04A2 Project Cost Estimate
Capella University
Professor Gerald Huff
April 7, 2018

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Assumptions
• The project information that s required for the project is in custody of the project
manager.
• All the materials and infrastructure are in place
• The project will be developed in time
• The software developed will have no flaws hence marketing is critical
Constraints
• Time constraint.
• The project manager has a struggling company. Financing is a problem to the Gardner’s
company hence Hopkins provides the initial funding for the project.
• The other team members are engaged in other activities in their work areas.
• Given that Hopkins is outsourcing for the software development, they are likely to face
risks of hidden costs and the person engaged to execute the project may not have same
passion as the owner.
Dependencies
• The project is fully dependent on the competence of the Gardner’s company and its staff
to do a good job.
Best Practices for Managing the project budget
One of the risky situations in cost estimation is the project expecting expenses beyond the
budget. This can however be managed by ensuring that the budget is kept intact with minimal

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Project Cost Estimate Vanessa McAndrew MBA- FP 6231 U04A2 Project Cost Estimate Capella University Professor Gerald Huff April 7, 2018 Assumptions • The project information that s required for the project is in custody of the project manager. • All the materials and infrastructure are in place • The project will be developed in time • The software developed will have no flaws hence marketing is critical Constraints • Time constraint. • The project manager has a struggling company. Financing is a problem to the Gardner’s company hence Hopkins provides the initial funding for the project. • The other team members are engaged in other activities in their work areas. • Given that Hopkins is outsourcing for the software development, they are likely to face risks of hidden costs and the person engaged to execute the project may not have same passion as the ow ...
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