Detailed Project Instructions Costing 1

DETAILED PROJECT INSTRUCTIONS Introduction: Your team will continue to develop the project the previous course. Senior Management has given its formal acceptance of the project based upon your outstanding planning and scheduling efforts to date. They have now provided funding for the continued development of your project plan. The challenge is to plan this project cost budget and determine how to best control your project. Upon completion, your project team will present your analysis and resulting project procurement plan, cost and budget estimate and project control plans. Instructions: Your team will develop a project procurement plan, a project cost estimate and budget, project controls plan. These documents will add to the plan and schedule you have already completed to create the complete project plan. Your team will make a formal presentation to the class using MS PowerPoint, overheads, and/or flip charts. Appropriate visual aids, handouts, and back-up data should support presentations. (Assume you will give your presentation to the project's sponsors/stakeholders. The level of detail in the presentation should be appropriate for your audience.) Presentations will be 20 to 25 minutes in duration. Each team should be prepared to answer questions about their schedule. Presentation: At a minimum, your presentation should cover the following: •

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Project Procurement Section o Determine products and services that will be procured from outside the organization (Construction of Project) (Vendor Selection and IT/IS Service Contracts) o Analysis of two-three items (Dan) I will make sure Dan gets all the info he needs.  Buy vs. Make analysis (Dan)  Procurement process for each item (Dan)  Impact procurement will/could have on project (Dan) Project Cost Section o Determination of overall project costs (See 2nd Page is what we all worked on in class) o Cost components and analysis of variable costs (Separate attached File for Kelly to break down in Comparison to Business Plan that I will send copy of.) o Project Cash Flow Project Controls o Meeting schedule ( Grant ) o Agendas for meetings ( Grant ) o Information controls & Power Point Presentation ( Charlie )

Project Costing and Control, BUSAD 5002

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o Reports and metrics

( Mark )

Written Report: On the night of your presentation, please turn in a written report or imbedded report notes that describe your development of the presentation. Your report should cover the same material as your presentation with the following inclusions. • Discussion of how each section/component of the presentation was developed (Grant) • Project management principals used to develop presentation (Dan) • Learning’s from development with team (Mark) • How these learning will/could be applied in the future (Kelly) ----------------------------------------------------------------------------------------------Tuesday Nights Class Discussion Objectives that we wrote down! (Kelly) Project Cost Section (Primary Costs) Total Project Cost: $250,000 Construction and Material Costs: $200,000 Vending Food Services & Equipment & Start-Up & Staffing & IT/IS: $50,000 Project Cost Section (Secondary Breakdown) $50,000 Equipment: $25,000 Vending Food Services & Staffing: $20,000 IT/IS Services: $10,000 Notes: Project Cash Flow has to be tied into our project Milestone Chart! Payment Points of Release! 1. Project Initiation 2. Phase 1 3. Phase 2 4. Close Out Criteria 5. Final payment disclosed after 90 days of Close out Criteria Fulfillment

Project Costing and Control, BUSAD 5002

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