We're Open

0% Plagiarism Guaranteed & Custom Written

Create a budget analysis report of the current failed project and a project estimation report for the turnaround project.

Create a budget analysis report of the current failed project and a project estimation report for the turnaround project.

This portfolio work project, a budget analysis and cost estimating artifact, is based on the Revive LLC case study for the development of a new online employee orientation module. Both human resources (HR) and information technology (IT) employees, as well as contractors, will be used in this project.

Cost management is defined as "primarily concerned with the cost of the resources needed to complete the project activities" (Project Management Institute, 2017, p. 233.). Also, consideration needs to be taken with respect to project costs and stakeholder differences. Financial performance techniques provide both internal and external measurement capabilities that allow for decision making, financial analysis, and mitigation strategies.

Effective cost management involves establishing a cost baseline for measuring project performance. Establishing the project baseline is like establishing a point of reference. Whatever that point of reference, it will become the baseline against which project performance will be measured. This cost baseline becomes the basis for more advanced techniques, such as earned value management (EVM).

Project cost management includes planning for the resources needed: the people, equipment, and materials. With the use of proven estimating techniques, an estimate is presented to the project sponsor and management for approval. Upon approval, the cost estimate becomes the official budget for the project. As the project goes through the normal project lifecycle, cost control techniques track and monitor the budget, which allow you to make sure you will not incur a budget overrun.

Reference

Project Management Institute. Guide to the Project Management Body of Knowledge (PMBOK® Guide) — Sixth Edition and Agile Practice Guide. Newtown Square. PA. 2017.


100% Plagiarism Free & Custom Written,
Tailored to your instructions


International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

UK Registered Company # 11483120


100% Pass Guarantee

STILL NOT CONVINCED?

We've produced some samples of what you can expect from our Academic Writing Service - these are created by our writers to show you the kind of high-quality work you'll receive. Take a look for yourself!

View Our Samples

corona virus stop
FLAT 25% OFF ON EVERY ORDER.Use "FLAT25" as your promo code during checkout