Question: Explain your approach to estimating the project cost (e.g., top down, bottom up, etc.) and why that method was chosen. Create a table that shows

  1. Explain your approach to estimating the project cost (e.g., top down, bottom up, etc.) and why that method was chosen.
  2. Create a table that shows the original budgeted cost (from the charter) and the actual budgeted cost (side by side). Include line items for labor, materials, contract, equipment, travel cost, and so on.
  3. Compare the budget from the charter to the final budget, and explain any variances that occurred from your original budgeted cost in the project charter and the current project cost. (Include your original estimated cost for the project.)
  4. Explain your budget contingency plan and how much is budgeted for contingency.

Part 2: Resource Management

  1. Explain the results of your resource assignments. Did you assign enough people to the project? Were there any resources overallocated? What approach will you take to fix any allocation problems?
  2. Develop a plan to manage your project team, and define how you will motivate your team and how you will handle team conflicts.
  3. What structure would you select for your project: functional, weak matrix, balanced matrix, strong matrix, or pure project? Why?

Step by Step Solution

3.48 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The coffee industry in the United States has a combined annual revenue of about 12 billion which is poised to reach 462 billion by 2021 The rapid growth of this industry is encouraging entrepreneurs t... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!