[Solved]Estimating a project budgetincludes cost estimates for each activity in the WBS with specific assumptions made during the

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[Solved]Estimating a project budgetincludes cost estimates for each activity in the WBS with specific assumptions made during the estimating process, as well as quantities, unit prices, hourly rates for tasks, and accumulated totals.

we create a schedule and accurate budget for your project. You need to focus on detailed cost estimating, scheduling, and cost justification. Estimatinga project budgetincludes cost estimates for each activity in the WBS with specific assumptions made during the estimating process, as well as quantities, unit prices, hourly rates for tasks, and accumulated totals. You must justify all of your costs; this includes direct, indirect, variable, fixed, and overhead. It is ok if these are all included in burdened labor rates.

This WBS must be created in MS Project using the automatic scheduling feature, indenting to produce subtasks, and allowing the software to create the WBS numbers.Numbers inserted in the file because the look right is not correct.

You should include the internal resources in your project plan with a cost assigned to them. As you may remember from PROJ586 and will see later this information is necessary to use earned value to track the project. This may not be an additional cost to your company but it is a cost of doing the project.

You must use a project estimating process. A functional estimate is based upon types of purchases and expenditures, and general labor for the time the entire project was in progress. If this is the way you estimate the cost of your project it is a functional budget estimate and you will not get credit for it.

The CP-2 Project Proposal will be structured with the following sections.

• Cover page including assignment, project title, course, and student contact information
• Executive summary summarizing the content from the entire document with quantifiable highlights, such as overall cost, duration, and so on
• Project scope statement describing the project
• Resource loaded WBS and schedule with proper grouping, indenting, and coding for approximately 25 to 40 line items. This also needs to include a work package, deliverables, and activities, activity relationships, activity durations, and activity resources. (This can be in an MS Project file.)
• Cost estimatesfor each activity. Capital cost estimates should include building, franchise fees, equipment, and so on, if required for your project.

• Estimating techniques used in developing the estimates in your bud
  get. You should describe briefly the techniques you actually used to develop your project plan.

• Cost assumptionsincluding a list of assumptions made when deriving your estimates. These are not facts about the details but general condition type assumptions which are likely out of the control of the project manager.

NOTE: Each section should include the detail as described above, along with a proper discussion about the included data as well as the project manager’s analysis and interpretation of the information.