MAS50885 - Manage Project Cost Case Study - Management Assignment Help

Assignment Task

Project costAssessment 1 – Written Responses

1. Give examples of budgeting processes, tools and techniques.

2. Outline how you have applied these to a project in the past. If you have not worked on a project outline how you could apply them in a future project.

3. Outline methods and tools for costing and cost analysis.

4. Explain how you would develop a budget for a project.

PartB  Case Study/Practical

1. Determine the resources you will need for a project of your choice. You will need to establish what is required to complete tasks, as well as the quantities of resources. Importantly, you must take budgets into account, and prioritise resources based on resource limitations.

2. Prepare a full budget and cost-management plan for the project from the question one. Include all direct and indirect costs in the plan, and account for these in the budget.

3. Decide on appropriate key performance indicators and establish how they are going to be measured. How would you monitor all costs to make sure you are staying within budget? How would you make adjustments if you felt progress is not being made, or expenditure is too high.

4. Describe how you would record all areas of expenditure according to your organisation’s protocols. Create a sample financial report that is laid out clearly and is easily understandable. Could you please help me with the assessment that I have got.

Assessment question and the assessment should need to be done as per the workbook that in-have attached along with this mail.The referencing style should be in Harvard style.Please note that it should be based on the workbook attached.The word shall need to be 2500 words and part A and part B should be seperated.

Assessment 1 – Written Responses

1. When establishing your project, how might you:a. Identify project objectivesb. Negotiate project objectives, outcomes and benefits with stakeholdersc. Negotiate project governance structure with relevant authorities and stakeholders?

2. What project documentation is required in the initiation stages of a project? Provide an example of one of the documents.

3. What information is contained in the project charter and what is the procedure you could use for obtaining approval from relevant authorities?

4. Explain the processes and procedures you would undertake to establish the project management plan.

5. What issues might you encounter whilst executing the project in an established internal work environment and how could you resolve these issues?

6. Create a full and accurate project initiation document and scope statement for an upcoming project of your choice.

Part B– Written Responses

1. Explain how issues, risks and changes are managed during the execution of a project.

2. How would you allocate project finalisation activities and how would you determine if the allocation was effective?

3. What procedure would you use for project handover to the client and how would you determine if the handover was smooth?

4. How would you identify the key lessons learned from your project and the aspect that had the most impact (positive or negative) on the project?

5.a After the project has been completed, what steps would you take to carry out a full review and evaluation of project outcomes?

b. How would you get feedback from all team members involved in the project and present your findings?

c. How would you incorporate suggestions about how the team can improve in the future? 

Part-BWritten response

1. Why is it important to communicate with project stakeholders?

2. What is the purpose of a quality metric?

3. What is the purpose of quality management tools, techniques and methodologies

4. Explain why it is important for team members and stakeholders need to be aware of quality requirements?

5. Why are quality requirements and metrics effective tools to use when measuring performance?

6. Define what quality assurance is and give an example.

7. Why is quality control useful?8. Give an example of why a variance needs to be corrected, minimised and/or otherwise tackled?

9. Why is information management important in quality management terms?

10. Why should you review project outcomes against performance requirements?

11. a. When is the best time to document lessons learned?

b. How often should documentation occur?

c. Who is responsible for documenting the lessons learned? 

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