Project Time and Cost Management
Using the WBS for your project complete the attached Cost Estimate Work Sheet by including the best cost estimates available for each of the activities listed on the WBS. Also indicate whether the activity represents a recurring or non-recurring cost.
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Use the Cost Estimate Work Sheet from the previous step to complete the Initial Budget Worksheet by using the attached template.
Initial Budget Worksheet
In a paper that is a minimum of 3 pages long, based on your calculations what is the total budget for this project? According to this analysis, identify clearly and concisely at least three areas where you see potential cost savings.
For each of these areas of opportunity using your understanding of the project, explain a potential change in plan to reduce costs in the project. When making recommendations for cost reductions how can you ensure these cost reductions are in the best interest of the company, i.e. you aren’t sacrificing quality in order to cut costs.
Your submission should follow the essentials of APA (i.e., cover page, double-spaced, 12 pt. font, reference section at the end, in-text citations, etc.).
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