Proj586 Wk4 Huntsville Project

4Steven Baughman

WK4 PROJECT ESSAY

PM586

September 30,2012

Professor Terry Pritz

1.What is your total budget for this project? Was the project within the budget as set forth by the board of directors?

The total budget estimated for this project : $2,633,532.00

The total fixed costs in the project : $2,512,200.00

Variance in this project : $2,633,532.00

Allocated budget for this project : $2,750,000.00

So the cost estimated is within the budget by $116,468.00

2.What is your budget for the Planning Phase? What is the Planning Phase duration in weeks?

Budget for planning phase :

$1,264+$4,608+$1,096+$3,272+$5,376+$4,312+$34,568+$221,952+$1,732+$7,574

= $285,754

Duration of planning phase :

Starts on : 4/18/2011

Duration : 10 weeks

Ends on : 6/24/2011

3.What is your budget for the Preparation Phase? What is the Preparation Phase duration in weeks?

Budget for preparation phase :

$5,024+$1,251,040+$26,378 = $1,282,442

Duration of preparation phase :

Starts on : 6/27/2011

Duration : 47 weeks

Ends on : 5/18/2012

4. As your project launches, what are some of the key performance indicators that you will monitor and control? Why are these performance indicators critical to mange during the project?

As the project moves forward, I would be continuously proactive through the duration of the project. The main thing I would concentrate would be weekly meetings. Weekly meetings are used to update every one with the project status. MS project would be one of the key tools to monitor and control the project. It also helps us to visually present he graphs and reports.

The main processes by which we execute the proceedings are;

  1. Perform the work

  2. Monitor and control progress

  3. Control changes.

These three elements act as our key indicators which must be followed continuously to stay on track of the project and in completing the project effectively, efficiently and with high quality