Bsbpmg 533 Task 2I will provide 100 niche relevant manual blog comment backlinks PDF

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I will provide 100 niche relevant manual blog comment backlinksI will provide 100 niche relevant manual blog comment backlinks...

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BSBPMG533 Manage project cost Task 2 – Case Study

Task summary This assessment is to be completed using the IndoAust Jaya Project information located on Canvas.

Required 

Access to textbooks/other learning materials



Access to the IndoAust Jaya Project information on Canvas



Computer with Microsoft Office and internet access

Timing 

Your assessor will advise you of the due date of this assessment via Canvas.

Submit  

This completed workbook. Budget for Part B

Assessment criteria For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.

Re-submission opportunities You will be provided feedback on your performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

IH Sydney Training Services Pty Ltd RTO Code: 91109 CRICOS Code: 02623G

Assessment Cover Sheet Candidate name: Candidate ID Trainer’s Name: Date Submitted: Candidate I declare that: declaration:  I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task  This assessment is my own work and where other’s works or ideas have been used, I have appropriately referenced or acknowledged them  I understand that plagiarism is a serious offence that may lead to disciplinary action. Candidate signature:

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Task 2 – Case Study General instructions You need to complete this task based on IndoAust Jaya Case Study and corresponding Project Brief.

Part A – Resource requirements and costs Outline the resources required for a phase of your project and the relevant costs using the Project resource requirement and cost sheet given below to guide you. Activity WBS code

Description

Amount of resources required Direct costs Item

Training and support Phase 6 Schedule and 6.1 deliver administrator training 6.2

6.3

Schedule and deliver user training

Indirect costs Cost

Item

Assumptions

Cost

Cost

1* Training 5 days * manager $500 per day

$2500

1* training 7 days * consultant $700 per day

$4900

Technical Develop process 1* flows for the Team Leaders 3days * $600 per overall use of the and members day CRM to be incorporated into IAJ quality manuals

6.4

Develop specific user policies and procedures

2*User champions

6.5

Develop quick help guides

6.6

Provide ongoing help desk support

$1800

6 days* $450 per day

$5400

1* Communications Manager

7 * $400 per day

$2800

1* Customer Project Manager

2 * $600 per day

$1200

General Administration

$2400 per month

Based on assumption of salary of gen

$2400

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admin Total

Training and support

$20400

Refer to Section 8 of the Project Brief and the IAJ Salary Structure found in Canvas under ‘Additional Resources’ to help you find the information required. This section should be no more than 200 words.

Part B – Budget Based on the resource requirements and costs, prepare a budget for a phase of a project. You must create your budget electronically and submit it as an electronic file. You may use any project management software that you have available. If you do not have access to project management software, do an internet search for Excel templates and choose one that suits your project. Refer to Sections 5 and 8 of the Project Brief to help you find the information required. Your budget should include both fixed and variable costs. Remember to consider overheads and to include a contingency allowance. This section should be no more than 400 words.

Part C – Cost Management Plan Document a Cost Management Plan for your project phase. The Plan should include an explanation of:  the cost baselines  monitoring methods  reporting methods and frequency  responsibilities  change review and approval processes. Refer to Section 6 in the Project Brief to help you identify accountabilities. You will also need to refer to the budget you have developed and standard workplace practices. This section should be no more than 400 words. Answer: IAJ CRM Project Cost Management Plan

Cost Basslines: The cost baseline is the part of the project concerned with the amount of money that the project is predicted to cost and when that money will be used. In the current project we have used bottom up approach to estimate the cost baseline. The current project is estimated as $440,000. Monitoring method To monitor the project we use Earnd value management, Earned Value Management is a broad and powerful tool. In our case study we used four Earned Value measurements;

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1. Schedule Variance (SV) Schedule Variance (SV) is a metric of a project's performance measurements. 2. Cost Variance (CV) Cost Variance (CV) is a metric of a project's budget performance 3. Schedule Performance Index (SPI) The Schedule Performance Index (SPI) compares actual progress to what was expected. 4. Cost Performance Index (CPI). The Cost Performance Index (CPI) compares the value of finished work to the actual cost of completed work.

REPORTING METHODS AND FREQUENCY Cost management reporting will be incorporated in the monthly project status report. A section called "Cost Management" will be included in the Monthly Project Plan. The Earned Value Indicators specified in the previous section will be included in this phase. All cost variations that exceed the criteria indicated in this Cost Management Plan will be published on, as will any strategic plans measures. This report will identify and monitor Change Requests that are triggered as a result of project cost overruns.

RESPONSIBILITIES The Project Manager will be in charge of identifying and monitoring on the project's costs across its length. The Project Manager will encounter in the workplace during the monthly project status meeting to present and analyse the project's cost performance for the prior month. Earned value will be used to assess performance. The Project Manager is in charge of tracking cost variances and proposing solutions to the Project Sponsor for bringing the project back on track. The Project Sponsor has the power to make modifications to the project in order to get it back on track.

CHANGE REVIEW AND APPROVAL PROCESSES. The Change Management process establishes an orderly and effective procedure for tracking the submission, coordination, review, evaluation, categorization, and approval for release of all changes to the project’s baselines.

1 2 3 4 5

Steps Generate CR Log CR Status Evaluate CR Authorize CR Implement CR

Generate CR

Evaluate CR

Authorize CR

Implement CR

Log Updated Status Report Status

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Part D – Stakeholder consultation You are required to show evidence of consulting with a stakeholder to discuss your budget and cost management plan. In your consultation, you must:  explain key aspects of your budget and financial plan  ask for suggestions. Additional information for using the Case Study Refer to the Case Study to complete this assessment. You will conduct your consultation with Gary Jazgar, IAJ’s IT Manager. Gary has the following responsibilities at IAJ: 

supporting IAJ staff



planning and coordinating infrastructure



performing website maintenance



testing and planning for disaster recovery



adhering to the strategic plan for keeping hardware and software up to date



monitoring and maintaining computer hardware operating systems and applications



troubleshooting system and network problems and diagnosing and solving hardware/software faults



providing procedural documentation to users



evaluating and running projects as required by IAJ senior management



ensuring security of the network.

To show evidence of your consultation with Gary, you must complete the following: a) Prepare an email that you will send to Gary. The purpose of your email is as follows: 

Provide a summary of the key aspects of your budget and financial plan in the email.



Refer to the full budget and cost management plan which will be attached to the email for his review



Ask for his consideration and any suggestions



Arrange a meeting to discuss further and gain agreement

Use the following email template. (200 words)

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To:

GARY JAZGAR (IT MANAGER)

Cc:

Project Manager (IT Team)

Subject:

Progress Review for the ongoing project

b) Li s t 3

Hi Gary, Hope you are doing great, I have just made cost management plan and budget, please give your input and review the plan and I will meet you soon to discuss about the technical aspect of this project.

questions that you will ask Gary during the meeting to discover his views and any concerns.

Q1. What do you think about the estimated cost for this project is realistic? Q2. What is your point of view technical team budget, do we need more or less technical member” Q3. Please give review about the current testing method and what is your proposal for testing?

c) Describe the communication style that you will use during the meeting. Refer to the language you will use, your body language, tonality and how you will respond to comments, questions and concerns.

The language we will during the meeting will be English, the tonality will be Formal. You will have to right to comment and raise question during the meeting. The comments and question will be notes in the minutes of the meeting and can be used for investigation purpose.

Part E – Calculations Calculate the schedule variance and cost variance for a project that is in progress. Refer to Section 8 of the Project Brief to identify the anticipated project costs. Assume that the project is at the half-way point (six months in). You should note the following information:  Although 50 percent of the project time has lapsed, only 40 percent of the work has been completed so far 7|Page

 $272,416.50 has been spent from the project budget. Based on the results of your calculation, explain the impact that this have on your project. Explain how the results impact your project. This section should be no more than 200 words.

BAC = 440,000 AC = $272,416.50 EV = 40% of $440,000 = $176,000 PV = 50% of $440,000 = $220,000 CV = EV -AC, $176,000 - $272,416.50, = -$95,416.5 SV = EV-PV = -$440,000 CPI = EV/AC = 176,000/272,416 CPI = 0.646 CPI of less than 1 means that the project is over budget SPI = EV/PV SPI = 176,000/220,000 SPI = 0.8 the SPI is less than 1 then the project is running behind schedule Based on the result of these calculation, the budget is overbudget because the CV is negative and behind the schedule.

Part F – Budget report Prepare a budget report for a project that is in progress. Refer to Section 8 of the Project Brief to identify the anticipated project costs for the budget areas. Assume that the project is at the half-way point (six months in). You should note the following amounts have been spent todate: Item Cloud Customisations

$ 7,600 62,000

Training

5,000

On Premise Costs

3,000

Selection Processes

7,000

Additional Software

2,000 8|Page

Hardware and Peripherals

74,000

Project Team

85,000

Support Costs

4,816.5 0

Annual Maintenance and Service Charges

22,000

Use the below given Budget report template to prepare your report. This section should be no more than 200 words.

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Date of report:

Budget Area

Cloud Customisations Training On Premise Costs Selection Processes Additional Software Hardware and Peripherals Project Team Support Costs Annual Maintenance and Service Charges

Totals

6 month Amount Amount budgeted for budgeted life of for life of project project

Expenditure to-date

Variance $

Variance %

$ $ $ $ $ $ $ $ $

15,600 107,500 12,400 7,500 13,000 5,000 70,000 162,000 8,000

$7,800 $53,750 $6,200 $3,750 $6,500 $2,500 $35,000 $81,000 $4,000

$ $ $ $ $ $ $ $ $

7,600 62,000 5,000 3,000 7,000 2,000 74,000 85,000 4,817

$200 ($8,250) $1,200 $750 ($500) $500 ($39,000) ($4,000) ($817)

3% -15% 19% 20% -8% 20% -111% -5% -20%

$

39,000

$19,500

$

22,000

($2,500)

-13%

$

440,000

$

272,417

$(52,417)

-24%

$ 220,000

Part G – Lessons learned As part of the project close activities, complete a Lessons Learned Report reviewing the budget management processes for a project. Your report should take into consideration all the assessment activities that you have already completed. Use the given below Lessons Learned Report to document your review. This section should be approximately 400 words. Lessons Learned Report Project name Knowledge area

Budget Management

Date Lesson learned that worked 1. Allocate Resources: we know how we can allocate the given budget according to needs

What worked well recommendation

Lesson learned that didn’t work

What didn’t work well recommendation

1. The thing which really worked preparation of budget, part of 2 of budget we learned how to allocate resources accurately

1. This is because at part F in budget report we calculate the cost by doing half the current annual budget is not pretty accurate, it can be the case that next six month of the budget we can get less

The recommendation would be is to calculate the cost according to budget time span. If the budget is annually, we should calcite variances annually

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spending and ultimately underbudget

2. Project Management software: It is easier to manage budget using project management software and also the Excel is very handy when calculating the budget.

2. The same or more advanced project management software should be used to make the work fluent.

2. No proper Project Estimation technique: This could be the reason the project is overbudgeted and behind the schedule. Because there was no proper method to estimate the project.

1. You need to spend more time to adopt proper estimation and method and use this method to calculate the budget cost

3. Contingency reserve: we have included sufficient contingency reserve which help to bring project back on track.

3. The contingency reserve should have been made in future project in order for the smooth flow of the project

3. High risk activity could have catered using additional buffer: whenever there is high risk activity, we should have additional amount to cover it, like if certain budget has $7500 high risk activity we have additional $1000 dollar to cover risk

2. The recommendation will be is to have additional amount to allocated for the high risk activity.

End of Assessment.

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