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Project Cost and Quality Management Assignment

Part 4: Project Cost Management

Tony Prince and his team are working on the Recreation and Wellness Intranet Project. They have been asked to refine the existing cost estimate for the project so they can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $200,000.

Tasks

  1. Prepare and print a one-page cost model for the project described in the Running Case, similar to the model provided in Figure 7-2. (In lecture notes Chapter 7) Use the following WBS, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $100/hour for the project manager and $60/hour for other project team members. Assume that none of the work is outsourced, labor costs for users are not included, and there are no additional hardware costs. The total estimate should be $200,000.
  2. Project management
  3. Requirements definition
  4. Web site design
  • Registration for recreational programs
  • Registration for classes and programs
  • Tracking system
  • Incentive system
  1. Web site development
  • Registration for recreational programs
  • Registration for classes and programs
  • Tracking system
  • Incentive system
  1. Testing
  2. Training, rollout, and support
  3. Using the cost model you created in Task 1, prepare a cost baseline by allocating the costs by WBS for each month of the project.
  4. Assume that you have completed three months of the project. The BAC was $200,000 for this six-month project. You can also make the following assumptions:

PV = $120,000

EV = $100,000

AC = $90,000

  1. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
  2. How is the project doing? Is it ahead of schedule or behind schedule? Is it under bud get or over budget?
  3. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
  4. Use the SPI to estimate how long it will take to finish this project.

Part 5: Project Quality Management

The Recreation and Wellness Intranet Project team is working hard to ensure that the new system they develop meets expectations. The team has a detailed scope statement, but the project manager, Tony Prince, wants to make sure they’re not forgetting requirements that might affect how people view the quality of the project. He knows that the project’s sponsor and other senior managers are most concerned with getting people to use the system, improve their health, and reduce healthcare costs. Users want the system to be user-friendly, informative, fun to use, and fast.

Tasks

  1. Develop a list of quality standards or requirements related to meeting the stakeholder expectations described in the Running Case. Also provide a brief description of each requirement. For example, a requirement might be that 90 percent of employees have logged into the system within two weeks after the system rolls out.
  2. Based on the list created for Task 1, determine how you will measure progress on meeting the requirements. For example, you might have employees log into the system as part of the training program and track who attends the training. You could also build a feature into the system to track usage by user name, department, and other criteria.
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