Project Scheduling and cost

timer Asked: Feb 24th, 2015

Question description

Deliverable Length: 600–1,200 words of new content; 3,000–6,000 words (10–20 pages) total  
The first step will be to select a project for which you want to develop a Acquisition Project Scheduling and Cost Management plan. This project will be used as the basis for each of the assignments throughout the course and should conform to the following guidelines:

  • Nontrivial: The selected project candidate should reflect a real-life project.
  • Domain knowledge: You will be applying knowledge of this acquisition project to address assignments related to scheduling and cost.

the project deliverables are the following:

  • Submit your project proposal to your instructor for approval.
  • Acquisition Project Scheduling and Cost Management Plan document shell
    • Use Word
    • Title page
      • Course number and name
      • Project name
      • Your name
      • Date
    • Table of Contents (TOC)
      • Use an autogenerated TOC.
      • This should be on a separate page.
      • This should be a maximum of 3 levels deep.
      • Be sure to update the fields of the TOC so that it is up-to-date before submitting your project.
    • Section headings (create each heading on a new page with "TBD" as the content, except for sections listed under "New Content" below)
      • Project Outline
      • Cost, Schedule, and Technical Performance Management
      • Management of Small Projects
        • Develop your small acquisition project schedule using MS Project (tasks, predecessors, duration, and resources assigned).
        • Copy a screen print of the schedule and Gantt chart into this shell.
        • Copy a screen print of the critical path network diagram, or of the Gantt screen of the Tracking Gantt view showing the critical path into this shell.
        • Describe the specific processes that you will use within each of the 5 Project Management Institute (PMI) process groups: initiating, planning, executing, monitoring, and controlling and closing.
      • Acquisition Project Guidelines
        • Update the project plan and Gantt Chart with acquisition project activities with MS Project, and copy it into this section.
        • Develop a request for proposal (RFP) template for the acquisition project with the elements discussed in the Discussion Board for this week.
        • Develop a table with the vendor evaluation criteria.
        • Diagram and describe the vendor status update process.
      • Costing Methods and Tools
        • Select 2 of the costing methods, and discuss why they will support developing a realistic budget.
          • Expert judgment
          • Analogous estimating
          • Parametric estimating
          • Bottom-up estimating
          • Three-point estimating
          • Reserve analysis
          • Cost of quality
          • Project management estimating software
          • Vendor bid analysis
        • Provide an example of computations for a few of the activities for the 2 selected methods.
        • Fill in a table similar to the example table so that your 2 different total project budgets are based on the 2 selected methods.
        • Discuss what type of contingency budget you will put in place based on the 2 budgets to mitigate an underestimation.
      • Earned Value Management System
        • Discuss how an earned value analysis will be utilized for this project or Key Assignment, including the formulas to compute earned value analysis (EVA).
        • Cover the following 4 scenarios and what you should do:
          • Behind schedule and over budget: Include a sample calculation that would trigger this interpretation, along with a graph.
          • Ahead of schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph.
          • Behind schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph.
          • Ahead of schedule and under budget: Include a sample calculation that would trigger this interpretation, along with a sample graph.
        • Discuss for each of the above situations how you compute the final cost and end date if nothing changes with its present state.
      • Overall Cost and Schedule Performance
        • Discuss how you will monitor progress.
        • Discuss what metrics, reports, and graphs you will use to monitor progress.
        • Discuss how they would determine the cause of the variation.
        • Discuss how you will respond to deviations; (specifically around schedule compression and a contingency budge
  • New content to be inserted in document shell
    • Project Outline
      • Give a brief description of the project.
      • Discuss the overall project deliverable.
      • The material can be taken from approved proposal submitted to instructor, and this will serve as the draft for the proposal.
      • Be sure this project is approved by the instructor.
    • Cost, Schedule, and Technical Performance
      • Discuss cost techniques both in determining initial estimates and in monitoring and controlling them throughout the life of the project.
      • Determine the project schedule for the acquisition component of the overall project and include a copy of it.
      • Develop the program evaluation and review technique (PERT) and critical path method (CPM) for this Key Assignment acquisition project, and include copies of those charts in this section.
      • Describe all of the key schedule influencers that can impact a schedule positively or negatively and how you would handle them.

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