You have been selected to support a Community Park Development Project and ensure that it is managed effectively and on budget. As the Project Manager, you have received estimates from your team for each Task in the WBS and a breakdown of the duration. However, you are missing the labor rates as well as the breakdown for each of the specialized project team members doing the actual work.

For this assignment, you will create a budget using Excel. You will use the data in the chart below including tasks, predecessors, and durations.

PART $1$ Labor and Materials

$1.$ Create the structure of your

budget in Microsoft Excel.

$2.$ Estimate the labour and non$-$

labour costs, using the duration estimates provided.

a$.$ Determine hourly rates and Labour hours

b$.$ Consider non$-$labour costs of this equipment, materials, food and supplies.

$3.$ Create the total $($aggregate$)$ budget

a$.$ Sum up the costs of each major deliverable

b$.$ Create subtotals at the major deliverable level

c$.$ Create subtotals for the labour and non$-$labour costs

d$.$ Use formulas whenever possible so you fully harness the power of Microsoft Excel.

e$.$ You are free to make any assumptions you like; ensure they are well$-$documented

f$.$ Create a time$-$phased budget $($Weekly only$)$

g$.$ Consider when the work will be done.

h$.$ Ensure your time$-$phased budget has the same total cost as your aggregate budget.

Assignment Instructions:

$1.$ Please submit your Microsoft Excel file $($not a PDF version$)$ as I will be reviewing the calculations made.

$2.$ Create an aggregated $($total$)$ budget on the first sheet of Excel.

$3.$ Create a time phase budget on the second sheet of Excel.

$4.$ Upload one assignment per group. You can make multiple submissions before the deadlines $($in case you make a

mistake, just go back to BB and upload the correct file$)$

$5.$ Every member of the team needs to submit a completed Participation Log. The submission link is in the

$$Individual Assignments$$ content area.

PART $2$ Developing a Week$-$by$-$Week Budget

After collaborating with the team and finalizing the Project Schedule, you are now tasked with creating a week$-$by$-$week budget based on the MS Project schedule. This involves assigning the given tasks in the WBS to specific weeks, aligning with the planned start and finish dates for each activity.

Here's how you can proceed to create the week$-$by$-$week Project budget:

Allocate the budgeted amount for each Task to the corresponding time column as per the MS Project schedule.

Calculate the total cost for each week's work and display the cumulative cost, following the methodology demonstrated in class and outlined below:

$$Week $1$: $[$Insert total cost for tasks scheduled in Week $1]$

Cumulative Cost: $[$Sum of costs for Week $1]$

$$Week $2$: $[$Insert total cost for tasks scheduled in Week $2]$

Cumulative Cost: $[$Sum of costs for Week $1$ and Week $2]$

$$Week $3$: $[$Insert total cost for tasks scheduled in Week $3]$

Cumulative Cost: $[$Sum of costs for Week $1,$ Week $2,$ and Week $3]$

Continue this pattern for each subsequent week until the project's completion, ensuring accuracy in budget allocation and cumulative cost calculation for effective financial management.