Arizona State University CH8 Project Management Cost and Budget Essay OVERVIEW: Develop a Project Management Cost (Budget) and Project Management Schedule

Arizona State University CH8 Project Management Cost and Budget Essay OVERVIEW: Develop a Project Management Cost (Budget) and Project Management Schedule for Cosmos, Inc. or your selected business, using the Project Management Plan template.

RESOURCES:

Heagney, J. (2016). Fundamentals of project management (5th ed.). New York, NY: AMACOM. Available from the bookstore.
PMBOK® Guide.
Chapter 8, “Scheduling Project Work.”
Chapter 9, “Producing a Workable Schedule.”
Section 6.4, “Estimate Activity Durations,” pages 195–204.
Part 1: Section 9, “Project Resource Management,” pages 307–358.

INSTRUCTIONS:

Use Cosmos, Inc. to develop a Project Cost Budget and Project Management Schedule as the next components of your Project Management Plan. Refer to the Cosmo, Inc. Business Case attached document for more information.

Use the information from the prior assessment and your Work Breakdown Schedule to complete the Project Management Cost (Budget) component of the 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 project management schedule section. This should identify the time frames within which the costs will be incurred.
Note: Link your Microsoft Project timeline that meets project duration requirements.

Using your Work Breakdown Schedule and Microsoft Project, identify the activities you must perform to produce the project deliverables and include the following as part of the Project Management Schedule component of the template:

Summarize the intent of using a project schedule for the selected project.
Develop a Microsoft 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 Format

Attach your updated Project Management Plan Template.
Attach your MS Project File.
Attach your Project Budget File.
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 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.
Length: Utilize the template, including the title page and reference page. PM5018 Business Case
Cosmo, Inc.
Cosmo, Inc. is a leader in the development and distribution of wearable technology, including
fitness coaching, nutritional coaching, and lifestyle advising products. The company holds a 33percent market share in the wearable technology category. After doing marketing analysis,
senior leadership realizes the onset of competition could negatively impact future earnings.
CEO and President Harold Living tells his leadership Cosmo, Inc. needs a new marketing
strategy to not only increase market share but to maintain current levels. Based on data
analytics, Cosmo decides to incorporate technology trends into the company’s strategic
marketing, including:
•
Internet of Things (IoT).
•
Digital services.
•
Data analytics.
•
The mobile technology movement.
Living selects a task force to review Cosmo, Inc. and their competitors’ data analytic reports to
recommend a new strategy.
Customer Demographics
Demographics include but are not limited to:
•
Ages 25–50.
•
College educated.
•
Annual income greater than $75,000.
•
Residents in cities with population greater than 500,000.
•
Technology savvy.
•
Utilize mobile technology at work and home.
•
Utilize Cloud technology at work and home.
Marketing Campaign Strategy Objectives
The campaign’s goals are as follows:
•
Develop a marketing campaign strategy to increase production of wearable technology
by 25 percent.
•
Increase customer base by 20 percent by identifying unknown customer segmentations
based on age, demographics, income, education, and technology.
•
Utilize current technologies, including social media and data analytics, for predictive
analytics to identify known and unknown customer segments.
•
Become a leading competitor in wearable technologies.
•
Become a leading competitor using trending technologies, including IoT, mobile
technology, and artificial intelligence applications.
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PM5018 Business Case
•
Integrate technology into current ERP and Marketing systems to create an improved
digital business of the future and to deliver and support products to improve the
customer experience and “mesh” embedded services of people, devices, and content.
•
Develop and implement a new process within the Customer Service department to
establish new-product support services.
•
Meet current and future neutrality regulations.
Project Specifics
Details about the project include but are not limited to:
•
Timeframe: 10 weeks.
•
Budget: $150,000.
•
Campaign length: 6 months.
•
Measurement: Performance reports to be developed in order to monitor the increase in
customers and customer satisfaction rates.
•
Departments involved:
o
Marketing.
o
Finance.
o
Information Technology.
o
Customer Service.
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Project Budget and Project Management Schedule Scoring Guide
Project Budget and Project Management Schedule Scoring Guide
CRITERIA
NON-PERFORMANCE
BASIC
PROFICIENT
DISTINGUISHED
Develop a project costbudget section.
Does not identify a project
cost-budget section.
Identifies but does not
develop a project costbudget section.
Develops a project costbudget section.
Develops a detailed and comprehensive
project cost-budget section, including
project expenditure categories, and aligns
with project goals to ensure the allocation
of funds.
Create categories to
prioritize project
expenditures.
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.
Develop a project schedule
section.
Does not identify project
schedule section.
Identifies but does not
develop project schedule
section.
Develops a project
schedule section.
Develops a detailed and comprehensive
project schedule, including project phases
and milestones, and summarizes key
points in the timeline.
Create timeline that meets
project duration
requirements.
Does not describe
Describes but does not
timeline that meets project create timeline that meets
duration requirements.
project duration
requirements.
Creates timeline that
meets project duration
requirements.
Analyzes an overarching project timeline
that exceeds project duration
requirements and ensures alignment with
project goals.
Communicate in a manner
that is professional and
consistent with
expectations for members
of the project management
profession.
Does not communicate in
a manner that is
professional and
consistent with
expectations for members
of the project
management profession.
Communicates in a
manner that is
professional and
consistent with
expectations for
members of the project
management profession.
Communicates in a manner that is
professional and consistent with
expectations for members of the project
management profession. Writing is clear,
well organized, and free of grammatical
and other mechanical errors.
Communicates in a manner
that is not consistently
professional or not
consistent with expectations
for members of the project
management profession.
https://courserooma.capella.edu/bbcswebdav/institution/PM-FPX/PM-FPX5018/181000/Scoring_Guides/u03a1_scoring_guide.html
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