please explain do it step by step according to the requirement. Required documents are given. Thank you

As discussed,the objective of the time-phased budget is to determine the cash flow needs of the project. In order to create a time-phased budget, you need to estimate when the work will be done. Discuss the sequencing you used for your individual schedules and decide how you will sequence the work for purposes of this time-phased budget. Pay special attention to the sequencing of the project management work as its essential that it occurs throughout the project.

The duration of your time-phased budget should be 6 months (consistent with the project schedule)

With respect to contingencies, it is acceptable to include them at the beginning of the project, end of the project or spread them out over the projects duration. You can decide which approach you feel is most appropriate. Ensure your time-phased budget has the same total cost as your aggregate budget.

Project Budget - Geods Cempany Inc. HRM Standardization Preject Lynne and team successfully migrated the Good Products CRM solution (Salesforce) into the newly acquired American company. With the CRM project completed, it was now time to initiate the standardization of the Human Resource Management (HRM) "system" (policies, processes and technology) and the Financial Management "system" (FMS) (policies, processes and technology). In addition, Good Products decided it was time to address a key issue with their supply chain. Good Products decided to retain Lynne and the management consulting firm to support them on three of these initiatives. They were pleased with the work on the CRM project. In addition, bringing in a new management consulting firm would be very time consuming for everyone involved. Lastly, given the nature of these three projects, it was critical that the project management team had a good understanding of the cultures of the two companies, and this is very hard to "teach" since many elements of culture have to be observed to be appreciated. Human Resource Management Standardization Project The organizational systems in the newly acquired American company were very different than those founds in the UK company. This led to a goal of standardization. In order to gain the buyin of American company's HR team, Philip Cowell, CEO of Good Products, let everyone know he wanted the project management team to look for best practices and put these best practices into place at both companies. This meant that it was possible for best practices to be discovered in the American company and later implemented throughout the UK based organization's various regional offices. However, most people on the project team knew this was nothing more than a kind gesture because the newly acquired American company's HR practices, policies and systems were perceived to be very ineffective and inefficient. The American company tracked employee satisfaction results and these results validated the HRM challenges. A comparison of the top line employee satisfaction results in both organizations revealed a huge gap. In response to the question "would you recommend this company to members of your professional network and friends", an average of 82% of employees in the UK organization answered "agree" or "strongly agree". However, only 51% of employees in the newly acquired American company answered "agree" or "strongly agree" to a similarly worded question. Sinead O'Sullivan, the HR lead from the CRM project, skimmed the comments from survey participants and she noticed two themes: 1) lack of clarity around job responsibilities was leading to employee frustration and 2) the belief that employees were not paid what they were worth relative to the market and their peers inside the company was leading to a sense of inequity. Lynne realized that she would need to recruit a team of experienced HR professionals from the management consulting firm. Lynne's partner at the management consulting firm confirmed Sinead O'Sullivan would be assigned to this project. This was terrific news, and she hoped a few more consultants like Sinead would become available soon. In addition, Lynne asked Philip's executive team to identify at least 5HR representatives from the UK and American companies. Lynne spoke with Philip about this as she needed to ensure the representatives would be employee focused and very knowledgeable of HR best practices. Lynne wanted the best and the brightest to join her team. As Lynne began to think about the work required on this project, she knew that a comprehensive assessment of the HR policies, processes and technology in the UK and American companies would be time-consuming but critical. If done well, it would allow the team to deliver outstanding recommendations in support of the standardization goal. Financial Management Standardization Project Philip Cowell, CEO of Good Products, was all too familiar with the financial management challenges at the American company. During the acquisition process, he poured over the American company's financial statements in an attempt to assess true profitability. He found the financial statements very challenging to comprehend. Philip asked his CFO, Isla Johnson, to work with the CFO of the newly acquired American company and produce a report summarizing the financial health of the American company. 2 weeks into this assignment, Isla informed Philip that the work was not going well. The American CFO "carried a cloud of mystery" and was rarely able to produce information when it was needed. Eventually, the financial health report was produced but it offered Philip little insights. After several meetings with the American company's CFO, Philip decided he needed to replace this individual with someone who would offerobjective perspectives and help the organization embrace the digital technologies currently used throughout the Good Products organization. Just before the project's kick-off meeting, Philip announced his choice for CFO at the newly acquired American company. In a bold move, he appointed Isla Johnson to serve in the position for a transition period of 2 years. Philip promoted a member of Isla's management team to take her place while she held the CFO position at the American company. Once the integration of the newly acquired American company was complete, the accounting and finance professionals in the US would continue to report to Isla but she would return to the UK and resume leadership as the CFO for all Good Products' global operations. Isla was very helpful to Lynne Harris throughout the Financial Management Standardization Project. They shared the same objectives: 1) restore integrity to the American company's financial management "system" and 2) implement digital technologies in order to automate financial management processes. Lynne was grateful that Claude Julien, her finance lead on the CRM project, was available to work on this project. Claude had been with the management consulting firm for many years, and he was known for his wit and zany sense of humour. He would be a huge asset to the team. Isla Johnson worked with Lynne and Claude to identify finance professionals from Good Products and the American company who would be well suited for this project. As Lynne began to think about the work required for this project, she was excited about introducing SAP's financial management system to the American company as it was working so well for Good Products. Further, it was clearly a better solution than the "home grown" thick client platform that the American company was currently using as this platform was not cloud based and was the source of many operating inefficiencies. Isla was the champion of the SAP software selection decision as CFO for Good Products so Lynne knew she would be fully supportive of the standardization work that lie ahead. Claude was excited about creating a roadmap for the introduction of other digital technologies like artificial intelligence (AI) and blockchain as they would help address the existing pain points in the American company. A few of the pain points included: 1. financial forecasts rarely hit the mark with an acceptable level of accuracy 2. quarter end close was very time-consuming and reporting was rarely available before Day 15 of the new quarter 3. administering vendor payments was highly manual despite the fact that almost 70% of the American company's vendors had long standing contracts for the supplies, materials and equipment they provided. In sharing these pain points with Lynne, Claude could barely contain his excitement-he has tackled these financial management challenges in the past and the results with the American company will be nothing but truly impressive. Seasoned consultants like Claude knew that a comprehensive assessment of current state policies, processes and technology is a critical part of any financial management standardization project. If done well, these assessments would allow the team to deliver outstanding recommendations. Lynne loved working with management consultants like Claude as they are so refreshing - the more challenging the project the more excited they got. This was due in part to the fact that they know the experience they gain on projects like this will help them to secure great project assignments for many years to come. New Supplier Selection Project Good Products has a very successful line of health care products that have attracted global consumer attention. In particular, they are very proud of their skin care line that targets the aging population. This line, coupled with the very successful brand of nutritional supplements that they also sell globally has delivered impressive results over the last five years. However, in the last six months, significant challenges have arisen with a particular supplier. These challenges can be summarized as follows: 1. A plant-based ingredient, critical in the formulas for their skin care and nutritional supplement products is in very short supply. This in turn has prevented Good Products from being able to fulfill the demand for many of their products and they worry consumers will begin to shift away from their brand in search of a product that is more readily available. 2. Given the shortages identified above, the cost of the plant-based ingredient has risen by 23% in the last 6 months. The Marketing team at Good Products has resisted the growing pressure to increase the price of the affected products in their skin care and nutritional supplement lines. They worry that the price increase will further incent consumers to switch to a competitor's brand. However, the significant rise in cost has slashed their profit margins and Pressure is mounting to begin passing on the cost increase to consumers. The Manufacturing team at Good Products has signaled it's time to find another supplier of this plant-based ingredient. The company that produces this ingredient has not been able to confirm when their inventories will return to normal levels. Speculation in the industry is that it's going to get a lot worse before (and if) it gets better. The VP of Manufacturing has heard from his colleagues that there are competitive alternatives to this plant-based ingredient, but he has not had the time to research this further. He's recommended giving this work to the consulting team because there's a real sense of urgency. He's confident that the consulting firm will be able to identify a new supplier and outline the work required to transition to this new supplier in a matter of months