Question: There is a practical project in which there is a company suppose named ABC company and which has created a website named suppose XYZ.com which
There is a practical project in which there is a company suppose named ABC company and which has created a website named suppose XYZ.com which collabs with a university namely suppose ABCD university and under the website ABCD students are giving job opportunities after clearing the courses. Some data from the website may include Company Vision: Provide the best experience in job search using AI to help ABCD students to achieve their aspirations. Mission: Provide the best match between job opportunities and students. Goals: Offer a reliable, intuitive, and intelligent tool for students to look for job opportunities while they are still completing their studies. Project cost and estimated budget Project management: $10,000 - $15,000 Requirements gathering and analysis: $5,000 - $10,000 Design: $15,000 - $20,000 Front-end development: $20,000 - $25,000 Back-end development: $25,000 - $30,000 Quality assurance and testing: $5,000 - $10,000 Content creation and migration: $5,000 - $10,000 Hosting and infrastructure: $5,000 - $10,000 Contingency - 10% Ranges from $80,000 to $120,000 The estimated duration is about 4 Months Information/ Requirements gathering: 2 weeks Website Design: 2 weeks Front-end Development: 2 weeks Back-end Development: 2 weeks Integration with job posting platforms: 2 weeks Integration with student information systems: 2 weeks User authentication and security: 2 weeks Testing: 2 weeks User Acceptance Testing: 2 weeks Launch and deployment: 1 weeks
Points to be noted 1. Now, from the above-mentioned database provide at least 2000 words of answers regarding Project Resource Management techniques that will apply to this technical website project which may include information about a. projects resources techniques (project based on the abovementioned website project.) b. constraints : (project based on the abovementioned website project.) (Basics of resources constraints Materials Fixed budget The technical or specific type of equipment. Time and resource scarcity. Time constraints project- project completed by the time Resource constraint project - project completed within resources Mixed constraints project- both but mainly time Resource loading chart- the best method of establishing existence resources, resource loading form or resource usage calendar, resource usage table Resource leveling or resource smoothing- Leveling heuristics- 1. selecting activities with small slack 2. Activities with a small duration 3. Activities with the lowest activity identification number 4. Activities with most successor tasks 5. Activities require most resources 1. Creating resource loading table- 2. Determine activity late finish dates 3. Identify resource overallocation 4. Level the resource loading table Resource loading charts c. resource-loading techniques (project based on the abovementioned website project.) 2. Estimate activity resources- which include The ability of the project manager to estimate the activity resources is very crucial. Estimate activity resource is the process that estimates the type and amount of resources like equipment, supplies, and human resource to perform individual tasks for a particular project based on the abovementioned website project. 3. Project Evaluation and Control (project based on the abovementioned website project.) May include: Project control- 1. Setting a goal 2. Measuring progress 3. Comparing actual with planned performance 4. Taking action Control cycle is continuous Monitoring project progress 1. Project s - curve a basic tool 2. Milestone analysis Gnatt chart with milestone, tracking gnatt chart 4. Most important must include about Earned value management (project based on the above mentioned website project.) Which may refer as EVM recognizing that it is necessary to jointly consider the impact of time, cost, and project performance on any analysis of current project status. EVM also allows the project team to make future projections of project status based on its current state. 5. S-curve analysis directly links budget expenditures with the project schedule Again, the obvious disadvantage to this approach is that it ignores the project performance linkage. Project control charts such as tracking Gantt charts link project performance with schedule, but may give budget expenditures short shrift ( Earned value (EV), on the other hand, directly links all three primary project success metrics (cost, schedule, and performance). 6. Very importantly must include following terminologies Terminologies for earned value system- a. Planned value (PV)- n older terminology, PV used to be referred to as BCWS (Budgeted Cost of Work Scheduled). b. Earned value- (EV)- In older terminology, EV used to be referred to as Budgeted Cost of Work Performed (BCWP) c. Actual cost of work performed- older terminology, AC used to be referred to as Actual Cost of Work Performed (ACWP). d. Schedule variance.-(SV)- This is a measure of schedule performance expressed as the difference between the earned value and the planned value, or EV - PV. It is the amount by which the project is ahead or behind the delivery date at a given point in time. e. Cost variance (CV)- This is a measure of cost performance expressed as the difference between the earned value and the actual cost of work performed, or EV - AC. It is the amount of budget deficit or surplus at a given point in time f. (SPI ) Schedule Performance Index. The rate at which project performance is meeting schedule expectations up to a point in time. SPI is expressed as the earned value to date divided by the planned value of work scheduled to be performed (EV/PV). This value allows us to calculate the projected schedule of the project to completion. g. CPI Cost Performance Index. The rate at which project performance is meeting cost expectations during a given period of time. CPI is expressed as the earned value divided by the actual, cumulative cost of the work performed to date (EV/AC). This value allows us to calculate the projected budget to completion. h. BAC Budgeted cost at completion. This value represents the total budget for a project. i. EAC Estimate at completion. The expected total cost of completing all work on the project. This is the projected (forecasted) total cost based on project performance to that point in time. It is represented as the sum of actual costs (AC) plus an estimate to complete all remaining work. May also explain about Creating project baselines- Once we have collected the WBS and applied a time-phased budget breakdown, we can create the project baseline. Steps in earned value management 1. Clearly define each activity or task that will be performed on the project, including its resource needs as well as a detailed budget 2. Create the activity and resource usage schedules. 3. Develop a time-phased budget that shows expenditures across the projects life. 4. Total the actual costs of doing each task to arrive at the actual cost of work performed (AC). 5. Calculate both a projects budget variance and schedule variance while it is still in process. Once we have collected the three key pieces of data (PV, EV, and AC), it is possible to make these calculations. Remember from earlier in the chapter that the schedule variance is calculated by the simple equation SV = EV - PV, or the difference between the earned value to date and the planned value of the work scheduled to be performed to date. The budget, or cost, variance is calculated as CV = EV - AC, or the earned value minus the actual cost of work performed. Provide all answers only practically related to Website project.
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