Project cost estimates require the collection and analysis of significant and detailed cost information. In the case study assignment, project costs are collected in a table in order to produce an overall cost estimate.

Required Reading

Payback Period. (2013). Investopedia. Retrieved from http://www.investopedia.com/terms/p/paybackperiod.asp

Return on Investment - ROI. (2013). Investopedia. Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp

Net Present Value. (2013). Investopedia. Retrieved from http://www.investopedia.com/terms/n/npv.asp

O'Halloran, C. (2013, February 16). Improving project estimation accuracy. Project Management by Striking Group. Retrieved from http://strikingprojectmanagement.com/project-estimation/

Allen-Hamilton, B. (n.d.). Earned value management tutorial module 1: Introduction to earned value management. DOE. Retrieved from http://energy.gov/sites/prod/files/maprod/documents/EVMModule1.pdf

Allen-Hamilton, B. (n.d.). Earned value management tutorial module 2: Work Breakdown Structure. DOE. Retrieved from http://energy.gov/sites/prod/files/maprod/documents/EVMModule2.pdf

Allen-Hamilton, B. (n.d.). Earned value management tutorial module 3: Module 3: Project Scheduling. DOE. Retrieved from http://energy.gov/sites/prod/files/maprod/documents/EVMModule3.pdf

Allen-Hamilton, B. (n.d.). Earned value management tutorial module 6: Module 6: Metrics, Performance Measurement, and Forecasting. DOE. Retrieved from http://energy.gov/sites/prod/files/maprod/documents/EVMModule6.pdf

Litten, D. (2011, July 16). Earned value in 10 minutes [Web Video]. Retrieved from http://youtu.be/7WsfuvHegxE

Supplemental Reading

Michael, G. R. (2001). Net present value analysis: A primer for finance officers. Government Finance Review, 27-31. Retrieved from http://www.thefreelibrary.com/Net+Present+Value+Analysis%3A+A+Primer+for+Finance+Officers.-a072706711

Project Cost Management. (2013). PreparePM. Retrieved from http://preparepm.com/notes/cost.html

Case Assignment

Module 3 Case is a revised mini-case from Kathy Schwalbe’s Information Technology Project Management book.

Schwalbe, K. (2002). Information Technology Project Management. (pp. 186-187). Boston, Massachusetts: Course Technology.

You have decided that you are now an expert in project cost estimate and want to hold some workshops on the topic. Your first project is to develop materials, then market and hold your first seminar. You plan to do all of the work within the next six months.

You want to create a good cost estimate for this project. Below are some of the assumptions.

• You will charge $800 per person for a two-day class.
• You estimate that 30 people will attend to the workshop.
• Your fixed costs include $1,000 to rent a room for both days, set up fees of $300 for registration, and $200 for designing a postcard for advertising.
• You will not include your own labor cost, but you estimate to spend at least 150 hours developing materials, managing the project, and giving the actual class.
• You will hire one person to assist in the workshop, and you will pay $15.00 per hour.
• You will order 5,000 postcards, mail 4000, and distribute the rest to friends and colleagues.

Your variable cost includes the following.

• $10/registration plus 6% of the class fee per person to handle credit card processing
• $0.50 postcard if you order 5,000 or more; $0.80 if you order fewer
• $0.35/postcard for mailing and postage
• $40/person for beverages and lunch
• $30.00/person for class handouts

Calculate your projections based of the number of people who attend: 30, 40, and 50. Using Excel, create a spreadsheet to calculate total cost and total revenues and perform the following calculations for each scenario of people attending.

Profit = Revenues minus expenses

Actual cost = direct plus indirect cost incurred to accomplish the project

Plan value = total cost estimate planned to be spent on the project

Return on Investment (ROI) 

 

Assignment Expectations

Your paper should 3-5 pages, not including cover sheet and references, and to the point. You are expected to:

• Complete the calculations in Excel
• Copy Excel file into a Word document to discuss the results
• Summarize how you would present your findings to a banker who maybe lending the money for your project

You will be particularly assessed on:

• Your ability to see what the module is all about and to structure your paper accordingly.
• Your informed commentary and analysis -- simply repeating what your sources say does not constitute an adequate paper.
• Your ability to apply the professional language and terminology of Project Management correctly and in context; you are expected to be familiar with this language and use it appropriately.
• Your effective and appropriate use of in-text citations to the assigned readings and other source material to support your arguments. Refer to the TUI Course Guidelines and or the Purdue University APA formatting and style guide for the proper formats.

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