ASSIGNMENT INSTRUCTIONS PROJECT BUDGET AND PROJECT MANAGEMENT SCHEDULE INTRODUCT

ASSIGNMENT INSTRUCTIONS
PROJECT BUDGET AND PROJECT MANAGEMENT SCHEDULE
INTRODUCTIONEstimating project budgets is far from an exact science. Many of us have heard of projects running over budget. Why is this? Why do we consistently forecast low? There are many reasons for this inconsistency, including everything from improper funding at the beginning of the project to taking shortcuts that should never have been taken.
The project management schedule helps you and your project team evaluate progress and assess whether or not the project will be completed by the deadline. It is also a way to identify bottlenecks in the process so you can creatively reallocate resources and adjust timelines to ensure the project remains on time and within budget. As the project manager, you are responsible for forecasting and completing the cost budget and managing the project’s schedule.
Be sure to review the assignment instructions, scoring guide, and Project Management Plan template to familiarize yourself with the unique set of requirements for each and how the Project Management Plan ultimately affects your workplace project or Cosmo, Inc. (Refer to Cosmo Business Case [PDF] as needed.)
INSTRUCTIONSUsing your same chosen project (either Path 1 or Path 2), as well as the information from your Week 4 assignment and your work breakdown schedule, complete the Project Management Cost (Budget) section of your template:
Develop a project cost (budget) section. Prepare a cost estimate for the project by identifying the costs of each task and create categories to prioritize project expenditures. Prepare a preliminary budget using the cost estimate for your selected project.Note: Copy and paste the Summary Table and Comments into the Project Management Cost (Budget) section of the template.
Develop the project management schedule section. This should identify the time frames within which the costs will be incurred.Note: Link your MS Project timeline that meets project duration requirements.
Identify project stakeholders and roles and responsibilities for these sections of the project management plan template.
Using your work breakdown schedule and MS Project, identify the activities that must be performed to produce the project deliverables and include the following as part of the Project Management Schedule section of the template:
Summarize the intent of using a project schedule for the selected project.
Develop a MS Project plan for your project schedule. Include an introduction and link into this section of your plan. Create a Gantt chart showing:Resources assigned to each task. Note: Limit project tasks to 10 business days or less. Shorter task durations make it easier to assess project progress. Provide additional amplifying information about the schedule in your project plan, as applicable.
Predecessors to tasks.
Project tasks, milestones, and other measurable, tangible, and verifiable outcomes or results that must be produced to complete the project.
DELIVERABLE FORMATUtilize your previously started Project Management Plan Template.
References: There is no set number of references required for this assessment. Use scholarly or academic sources where applicable.
Format:Use the Project Management Cost (Budget) and Project Management Schedule components of the template provided.
The Project Management Cost (Budget) and Project Management Schedule are professional documents and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, including single-spaced paragraphs.
Use APA style and format for references and in-text citations. Visit Evidence and APA for help with APA as needed.
Length: Utilize the template, including the title page and reference page.
Your course instructor will provide feedback as if they were the recipient of your deliverables in the workplace, using the scoring guide and providing feedback. Refer to the Project Budget and Project Management Schedule scoring guide to ensure that you meet the grading criteria for this assignment before submission.
ePortfolioThis portfolio work project demonstrates your competency in applying knowledge and skills required of a master’s learner in the workplace. Include this in your personal ePortfolio.
SCORING GUIDEYour work will be evaluated using this criteria.
VIEW SCORING GUIDECOMPETENCIES MEASUREDBy successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
Competency 2: Analyze organizational benefits of project management.Explain who the project stakeholders are, their roles, and their responsibilities.
Competency 3: Analyze the application of various project management frameworks.Develop a project cost-budget section.
Develop project schedule section.
Create categories to prioritize project expenditures.
Create timeline that meets project duration requirements.
Competency 5: Communicate project management needs, opportunities, and strategies with multiple stakeholders.Convey purpose in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and scholarly writing standards.Project Budget and Project Management Schedule Scoring Guide
Due Date: End of Week 7
Percentage of Course Grade: 20%.CRITERIANON-PERFORMANCEBASICPROFICIENTDISTINGUISHED
Develop a project cost-budget section.
16%Does not identify a project cost-budget section.Identifies but does not develop a project cost-budget section.Develops a project cost-budget section.Develops a detailed and comprehensive project cost-budget section, including project expenditure categories, and aligns it with project goals to ensure the allocation of funds.
Develop project schedule section.
16%Does not identify project schedule section.Identifies but does not develop project schedule section.Develops project schedule section.Develops a detailed and comprehensive project schedule, including project phases, milestones, and summaries of key points in the timeline.
Create categories to prioritize project expenditures.
16%Does not identify categories to prioritize project expenditures.Identifies but does not create categories to prioritize project expenditures.Creates categories to prioritize project expenditures.Analyzes categories, including constraints relative to estimating project cost expenditures, and identifies potential mitigating strategies.
Create timeline that meets project duration requirements.
16%Does not describe timeline that meets project duration requirements.Describes but does not create timeline that meets project duration requirements.Creates timeline that meets project duration requirements.Creates an overarching project timeline that exceeds project duration requirements and ensures alignment with project goals.
Explain who the project stakeholders are, their roles, and their responsibilities.
16%Does not identify who the project stakeholders are, their roles, and their responsibilities.Identifies but does not explain who the project stakeholders are, their roles, and their responsibilities.Explains who the project stakeholders are, their roles, and their responsibilities.Analyzes the project stakeholder roles and their responsibilities, including a comprehensive view of each participant.
Convey purpose in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and scholarly writing standards.
20%Does not convey purpose in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and writing scholarly standards.Conveys purpose in an appropriate tone or style. Clear, effective communication is inhibited by insufficient supporting evidence and/or minimal adherence to applicable writing standards.Conveys purpose in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and scholarly writing standards.Conveys clear purpose in a tone and style well-suited to the intended audience. Supports assertions, arguments, and conclusions with relevant, credible, and convincing evidence. Exhibits strict and nearly flawless adherence to organizational, professional, and scholarly writing standards, including APA style and formatting