The project is estimated to be 4months $200,000 budget. **please includes the following points: 1. Create a cost baseline statement. A cost baseline statement is simply a brief statement that summarizes the budget and states the specific amount of money and contingency that forms the cost baseline.(you can see in the photos which states all the cost allocation for each project activities) 3. Perform a reserve (contingency) analysis, using PERT or Earned Monetary Value to determine how much to request for a reserve fund (show work in appendix of document). (Need to have more detailed number calculation) (please use 10% of the total cost to calculate as contingency reserves) 4. Create a statement of how much reserve you will be requesting, summarize how you determined the amount you requested, and provide a brief explanation for how these funds will be used and who can authorize the use of them. (can see the resource sheet photo) 5. Using the estimates from your MsProject file and your reserves analysis, create an updated funding request for your project. This should be a statement that identifies the total amount needed, but differentiates between the costs associated with the project and the reserves request 6. Based on your project schedule in the MsProject file which i will provide with photo format, create a “detailed funding schedule (time-scaled budget)”. You can do this by date or milestone. You could choose to use the following simple table headers: 1. column 1 – date or milestone 2. column 2 – WBS code 3. column 3 – deliverable or budget entry 4. column 4 – amount 5. column 5 — aggregate amount 7. give summary budget. it will most likely need to be updated to account for the PM processes. 8. please update a more detailed estimate aggregation and Table of Deliverables and Corresponding Cost template which I provide in my cost plan draft.
#Cost #management #plan