UWS Magic Project Tasks Questions
Project Cost Estimation for MAGIC Project. Find in the attachment for additional information on the MAGIC project. The attached MAGIC Project WBS & Schedule INTRODUCTIONCongratulations! You were just informed that your team has been awarded a new IT project titled MAGIC Project, which aims to develop a super and fantastic software program that can work like magic!Upon receiving this great mission, you worked closely with your team members and the clients to determine the Scope and Schedule for this magic project. Yes, you have planned on two aspects of the triple constraints already, with only one left to form the complete project baseline plan (see the attached draft WBS and Schedule). Great starting point!DESCRIPTIONSo, you have put the task Cost Estimation as of the 1st priority on your busy agenda today. Now you have gathered all your great team members here and where should you start?You quietly browsed through the lecture notes you took in one PM class a couple of years ago (lucky you didnt throw them away!) and made up your mind that you should start by identifying the cost categories and cost items related to completing this magic project. After several turns of hot discussions, you and your team have agreed on the following identified costs:Cost TypeCost EstimateTotal Estimate:__________________________You discussed the initial estimates with the top management and they seem to see eye to eye with you about the identified cost items. As a kindly reminder, they also suggest you go over the estimates once more to make sure there are no missing items. For instance, have you considered the following cost types/items: human resource cost, software development costs, software purchase costs, hardware costs, networks, ongoing support costs, and possible Admin costs (above typical overhead) Now you are pretty confident that your cost estimates are reasonable and comprehensive. What is the next step to go? Once again, you feel so glad that you kept a good record of your school stuff so that you have the notes to refer to whenever needed! Here you go allocate the identified cost estimates to individual work items over the project duration and develop the time-phased project budget (a.k.a. cost baseline)! MonthsTasksAprilAugustTotal by TaskMonthly PlannedCumulativeAttachment: MAGIC Project WBS & Schedule.docActionsPreviousNext
