Respond to this comment in length whether you agree or disagree. Give critique where needed. Site source if used.

1. How can you quantify the benefits of your course project? Show examples. To quantify benefits, one can utilize the SMART principles: specific, measurable, achievable, relevant, and timely. The benefits from our course project can be either tangible, such as financial savings or revenue increases; or intangible, like improved customer service, improved quality of service delivery, or improved reputation. After you identify your goals and outcomes, you can work on how to measure your benefits. (Kansa 2020) An example of an intangible benefit would be customer feedback on a project completed. Were the customers satisfied with the result and would they use your company again? My project is a little different in the fact that I am the PM over a shed/social area being constructed. My benefit would be the improved quality of the yard due to increased storage space. Another benefit would be a social area to utilize as an alternative to going out and spending money, saving money in the long run. 2. Variable costs are the bane of many project managers since they can easily affect the budget of the project. a. What would the variable costs be in your project? The variable costs associated with the construction of the shed would be for the laborers and materials. The cost of materials fluctuates so often and whether theres created waste or not will affect the amount budgeted for materials. b. How would you account for them in your budgeting plan? During the budgeting process, I will create a reserve for all estimates that I have associated with the cost of materials. This will cover if more materials are required. c. What would you do if one of your variable costs went off the rails? I will first use the reserve set for situations that affect materials since this is a personal project. If things go too far off the rails, I will have the laborers look for cheaper materials and may have to go a little outside budget if its acceptable.