Project Budget Essay
The preliminary go-ahead has been given for the project proposal on the company offsite 2-day training. However a budget needs to be submitted for approval. The 2-day offsite training will consist of managers from their locations, which are 10 locations, Human Resources manager and project manager to be on site for overall support and performance of overall timeline of project. Also the manager’s backup employee will be working while the manager is gone which will incur a few hours of overtime per location.
Costs of project
The cost for the 10 managers round trip flights, hotel rooms, and meals must be budgeted in the for the 2-day event. Human Resource and the Project Manager will also be in the total cost for a total of 12 people offsite, hotel rooms, and meals. A dinner the first night for all managers together for a few hours is also going to be in the cost since the company feels the desire to reward the managers for coming to the training and say thank you.
Reviewing the two phases in the project (two days of training) and using the PERT, program evaluation and review technique which also uses statistical distribution that provides probability for the estimating of the project allows for two days (Marchewka, p. 204, 2012):
Activity Estimate = Optimistic Time + (4 × Most Likely Time) + Pessimistic Time 6
(see Appendix A for Gantt Chart for the project)
The project proposal has been documented on the duration of 2-days of training which includes the transportation of all ten managers, one Human Resource personal, and the project manager. The critical path method (CPM) also projects the course of two days (See appendix B) Work Breakdown Structure
The proposed work breakdown structure (WBS) is included in the report (See appendix C) and has all costs and resources documented. With the statement of work and the proposed budget the meeting shall be a success and the feedback from the staff afterwards will insure future training sessions are even more of a success.
Marchewka, J. T. (2012). Information Technology Project Management (4th ed.). Retrieved from The University of Phoenix eBook.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 12 November 2016
We will write a custom essay sample on Project Budget
for only $16.38 $12.9/page