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Project Management

Project Management. Project Planning Costs & Budget. neil@minkley.fr. Project planning processes. Define scope & collect requirements. Create WBS. Plan risk management, identify & analyze risks. Define tasks. Plan procurements. Sequence tasks. Estimate task resources.

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Project Management

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  1. Project Management Project Planning Costs & Budget neil@minkley.fr

  2. Project planning processes Define scope & collect requirements Create WBS Plan risk management, identify & analyze risks Define tasks Plan procurements Sequence tasks Estimate task resources Develop human resource plan Plan quality Estimate task durations Plan communications Determine budget Estimate costs Develop schedule

  3. Planning processes: where do we stand? Scope defined & requirements collected WBS created Plan risk management, identify & analyze risks Tasks defined Plan procurements Tasks sequenced Task resources estimated Develop human resource plan Plan quality Task durations estimated Plan communications Determine budget Estimate costs Schedule developed

  4. Estimate costs & Determine budget Define scope & collect requirements Create WBS Plan risk management, identify & analyze risks Define tasks Plan procurements Sequence tasks Estimate task resources Develop human resource plan Plan quality Estimate task durations Plan communications Determine budget Estimate costs Develop schedule

  5. Estimate costs (1) • Estimate the cost of each of the resources needed to successfully complete the project tasks • Costs expressed in numbers of monetary units Estimate task resources Estimate task durations Determine budget Estimate costs Develop schedule

  6. Estimate costs (2) • Estimates may incorporate a “contingency reserve” to take into account changes due to the realization of potential risks • Estimates refined as the project moves forward and more details are available Estimate task resources Estimate task durations Determine budget Estimate costs Develop schedule

  7. Costs (1) • Labour • Overhead • Hiring • Offices

  8. Costs (2) • Workstations • Servers • Other equipment • Supplies

  9. Costs (3) • Materials • Documentation • Competitors’ products • Multimedia assets

  10. Costs (4) • Travel • Events

  11. Costs (5) • Services • Consultancy • Contractors

  12. Cost of salaried employees • Taking idle time into account: • add 10% or so to cost per day • or • count 200 workdays per year • Cost per day = Gross annual salary / 100

  13. Example of costs per day: project EXONE Project manager Senior technical consultant Junior technical consultant Developer 1 Developer 2 Tester 1 Tester 2 Client

  14. Example of costs: project EXONE

  15. Example of other costs : project EXONE

  16. Example of costs (2): project EXONE

  17. Questions?

  18. Estimate costs & Determine budget Define scope & collect requirements Create WBS Plan risk management, identify & analyze risks Define tasks Plan procurements Sequence tasks Estimate task resources Develop human resource plan Plan quality Estimate task durations Plan communications Determine budget Estimate costs Develop schedule

  19. Determine budget (1) • Add up all estimated costs • The budget should be officially approved by the project sponsor Determine budget Estimate costs

  20. Determine budget (2) • Authorized budget = baseline for the evaluation of the “cost performance” of the project • May incorporate “management reserve” to provide for “imponderables” Determine budget Estimate costs

  21. Determine budget (3) • A contractor’s budget for the execution of work for a client should include a profit margin • Price = total cost of work + margin Determine budget Estimate costs

  22. Reminder: Margin & Mark-up 100 20 80 • Margin (profit) = 20 • Margin% = 20/100 = 20% • Mark-up% = 20/80 = 25% Cost of project for the contractor Price paid by the client Price = Cost/(1-Margin%) Mark-up% = 1/(1-Margin%) - 1

  23. Example of profit margin • Estimated cost = 100,000 € • Required margin = 20% • Price = Cost / (1-Margin%) = 100,000 / 0.8 • Amount invoiced to client = 125,000 € • 25% mark-up • (100,000 x 1.25 = 125,000) Determine budget Estimate costs

  24. EXONE: costs

  25. EXONE: summary budget - Contractor

  26. EXONE: summary budget - Client

  27. Questions?

  28. Planning processes: where do we stand? Scope defined & requirements collected WBS created Plan risk management, identify & analyze risks Tasks defined Plan procurements Tasks sequenced Task resources estimated Develop human resource plan Plan quality Task durations estimated Plan communications Budget determined Costs estimated Schedule developed

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