Course Project Part 2—Due Week 4

In project Part 2, we create a schedule and accurate budget for your project. This builds upon the assignment you completed in Part 1. You should correct errors in that assignment before continuing on to this part. You need to focus on detailed cost estimating, scheduling, and cost justification. Estimating a project budget includes cost estimates for each activity in the WBS with specific assumptions made during the estimating process, as well as quantities, unit prices, hourly rates for tasks, and accumulated totals. You must justify all of your costs; this includes direct, indirect, variable, fixed, and overhead. It is ok if these are all included in burdened labor rates.

This WBS must be created in MS Project using the automatic scheduling feature, indenting to produce subtasks, and allowing the software to create the WBS numbers. Numbers inserted in the file because they look right is not correct. You should include the internal resources in your project plan with a cost assigned to them. As you may remember from PROJ586 and will see later this information is necessary to use earned value to track the project. This may not be an additional cost to your company but it is a cost of doing the project.

You must use a project estimating process. A functional estimate is based upon types of purchases and expenditures, and general labor for the time the entire project was in progress. If this is the way you estimate the cost of your project it is a functional budget estimate and you will not get credit for it.

The CP-2 Project Proposal will be structured with the following sections.

Cover page including assignment, project title, course, and student contact information
Executive summary summarizing the content from the entire document with quantifiable highlights, such as overall cost, duration, and so on
Project