| HOME Software Testing Data Mining and Warehousing |
|
Cost Management Project Task Budget The project budget can be represented by the sum of the fixed cost plus the cost of the resources of each project activity. Budgets are the financial attributions of the resources necessary to complete the project, usually expressed in currency units. +++Budget Display Example Budget Activity Total ($) Cost Fixed ($) Cost Direct ($) Cost Indirect The WBS can be used to estimate the costs of the project phases and even of the entire project. The phase cost is the sum of the costs of the activities belonging to it. The overall project cost is the sum of the costs of its phases. This process is also known as bottom-up estimating. Allocated Resources Budget This report presents the total cost per allocated project resource, allowing the cost analysis of each resource allocated to the project. There are two ways of attributing costs to a resource:
The fixed firm cost is used for resources that will charge for a certain work, regardless of the time spent in performing it. It’s also used for materials that will be consumed by the project. As an example, it’s possible to hire an engineer to carry out the structural calculation of a building and remunerate him for the work performed (contracted cost). The variable work-hour cost is attributed to resources that will be remunerated per worked hour and may include costs arising from overtime. For capital equipment-type resources, the cost per hour should be the depreciation value or the hourly lease amount for the utilization. Another example is that of a worker participating in a complex and large project remunerated by a monthly salary. The cost of this worker should be included in the project as a variable cost per hour of work. The cost per hour is calculated by dividing the monthly salary by the hours worked in the month. +=+=+The work breakdown structure (WBS) as a tool to calculate project cost. Cash Flow The cash flow is one of the most important instruments to view project costs. If it considers only project expenses, it’s also known as the project disbursement schedule. It relates the costs of each activity to the project schedule, thus allowing the analysis of the average disbursement and of the average cost of each project activity. +++Example of a Project Disbursement Schedule Weekly Cost +=+=+ An example of an S-curve. S-Curve The S-curve, or accumulated cost curve, allows the graphical evaluation of the foreseen project cost evolution over time. It constitutes the base for the evaluation of the project disbursement process, as well as the base for the determination of the budgeted cost of work scheduled (BCWS), of the earned value management system (EVMS). It’s usually obtained from the project data by means of electronic spreadsheet applications or chart generators. Cost Management Plan The cost management plan is a formal document that describes the procedures that will be used to manage all the project costs. The following should be documented in the plan:
Quality Management Quality Management Plan The quality management plan is a formal document that describes the procedures that will be used to manage the entire project quality. The following should be documented in the plan:
Human Resources Management Organizational Chart The organizational chart is a hierarchical representation of the different project levels. It usually displays in its upper part the name of the sponsor, the project manager, or both. It shows the command relationship within the project. Usually, the organization chart is part of the staff management plan. +=+=+ Project organization chart. Project Team Directory The team directory is a list of the project team members, including their position, industry, and liaison. Usually, the team directory is part of the staff management plan. +++Project Team Directory No Name Area E-mail Phone Number Responsibility Matrix The responsibility matrix displays the responsibilities of each project team member. It may display the detailed responsibilities of each resource, or only the project people and key-role responsibilities. Also, the responsibility matrix identifies the responsibilities, the support needs, and the supervision of each project activity group and of each specific project plan. Usually, the responsibility matrix is part of the staff management plan. Who Does What (Role Diagram) The role diagram displays a list of the resources in their respective activities. It also displays the number of resources destined for each project activity. It’s used to define the allocation of each project resource. +++ Responsibility Matrix Name Diagnosis Software Hardware Training Customization Pilot Results Note: A = accountable for successful completion of task (final authority), R = responsible for the task execution, s = substitute (second accountable for the task). +=+=+ Role diagram. Human Resources Management Plan The human resources management plan is a formal document that describes the procedures that will be used to manage all the project human resources. The following should be documented in the plan:
Communication Management Communication Management Plan The communication management plan is a formal document that describes the procedures that will be used to manage all the project communications. The following should be documented in the plan:
Risk Management Risk Management Plan The risk management plan is a formal document that describes the procedures that will be used to manage all the project risks. The risk plan is one of the secondary plans of the project overall plan. The following should be documented in the plan:
Procurement Management Statement of Work The statement of work describes the item to be contracted with enough detail to allow potential suppliers to evaluate whether they are capable of complying with the solicitation. The level of detail may vary according to the nature of the item, purchaser needs, or the contracting mode. The statement of work may be elaborated and refined during the project life cycle. The following should be documented in the statement of the work:
Procurement Management Plan The procurement management plan is a formal document that describes the procedures that will be used to manage all the project acquisition contracts. The following should be documented in the plan:
|
| Top of Page | More PM Articles | Prev: | Next: | Info-Source.us |