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BSBPMG514 Manage Project Cost

Question

Answered

Questions:

In the role of Project Officer of Manager Networks, you are required to determine project costs by researching and documenting costs included in a Work Breakdown Structure. You will then participate in a meeting with project stakeholders to seek input on costs. You will also be required to develop a project cost management plan that includes a project budget.

This assessment is to be completed in the simulated work environment in the RTO.

Instructions

Carefully read the following:

You are the Administration Manager for Manager Networks, an organisation that provides networking events for business people across Australia.

The company runs regular networking events but has now decided to start an annual conference event focussing on an area of business considered to be of key importance.

You have been asked to coordinate the conference project as the Project Officer. You have been provided with an initial Conference Plan Brief to assist you in determining the resource requirements. You will use this to develop a preliminary cost estimate, which you will discuss and confirm at a meeting with the project team.

Complete the following activities:

1. Determine project costs

Review the case study information and the Conference Plan Brief.

As set out in the organisation’s policy and procedures, you are required to review the work breakdown structure included in the conference plan brief and, for each of the tasks indicated, determine the resource requirements as well as the associated costs. The organisation’s policy and procedures also stipulate that you are to provide an estimate of costs using a bottom-up estimating technique.

You will need to use the Internet to research cost of some of the activities included in the work breakdown structure, as well as use the information provided in the conference brief.

Use the Project Cost Management Plan Template to guide your work.

You will develop the cost management plan after discussion at a meeting with the project team, so save this version of the document as Draft Project Cost Management Plan

2. Send an email to the Project Team (your assessor).

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment and ask for an appointment for a meeting to discuss it.

3. Participate in a meeting with the Project Team

You are required to meet with the Project Team to discuss and confirm the project scope management plan.

At the meeting, you will be required to go through your project cost management plan, carefully explaining each part of the project cost management plan, as well as your proposed project budget. Be prepared to answer questions and to note feedback provided so as to inform the final project cost management plan.

During the meeting, you will need to demonstrate effective communication skills including:

  • Speaking clearly and concisely
  • Using non-verbal communication to assist with understanding
  • Asking questions to identify required information
  • Responding to questions as required
  • Using active listening techniques to confirm understanding

4. Finalise project cost management plan

Based on the discussion with the project team, you are now required to finalise your project cost management plan. Use the feedback from the meeting and incorporate this into your project cost management plan. When you have completed the project cost management plan, send it to the Senior Management team for final approval.

5. Send an email to Senior Management (your assessor).

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment, seek their feedback and approval to move forward with the project.

Attach your Updated Project Cost Management Plan to the email.

BSBPMG514 Manage Project Cost

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