Formulate Resource Estimates and Project Budgets

To build an effective project plan, one of the many components is the estimate of resources that will be required, when the resources will be required and the formulation of project-based budgets.

Review the resources listed in the Books and Resources area below to prepare for this weeks assignment(s).

Books & Resources:Book

Fleming, Q. W., & Koppelman, J. M. 2010 Earned value project management.

Instruction:Read Chapters #7 and #8

Kerzner, H. 2009 Project management: A systems approach to planning, scheduling, and controlling.

Instruction:Read Chapters #14 (14.19, 14.21) and #15 (15.4)

Assignment:

Formulate Resource Estimates and Project Budgets

(15 Points) Due: 07/24/2016

Instructions:

Using a re-carpeting project as an example for this assignment, research resource estimation techniques necessary to generate a high level budget for the project. Formulate the resource estimates and budget for the project in a spreadsheet. Your spreadsheet should include:

• integrating scope with costs and schedules,
• management reserves,
• project baseline,
• methods used to plan earned value and control account plans.

In addition, provide a brief explanation of the project and the process implemented to formulate the estimates and initial budget. Justify your selection of necessary resources based on the budget you prepared. Support your summary with a minimum of three (3) external resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Length: Spreadsheet with sufficient detail to demonstrate the resources required AND 2-3 page summary explanation Your summary should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards where appropriate. Be sure to adhere to Northcentral University's Academic Integrity Policy.