Project Planning: Cost and Resource Allocation Essay

Submitted By Angel-Montaz
Words: 924
Pages: 4

Project Costing
Angel Montaz, Christian Hubbard, Christopher Christmon, Leander Braziel
October 11, 2015
Lisa Florio

Project Costing

Allocation of resources to project tasks (labor and material): Resource allocation is critical since it involves the planning of all the resources required for our project. This will help us utilize only the amount of resources required for the project. As Project managers, often times we have to work in limited budgets. If we are able to do resource allocation efficiently, it can facilitate the project since resource allocation is one of the most difficult an important parts of a project. The resources we need to project tasks include: hardware, maintenance, office supplies, postage, shipping, software, telephones, and subscriptions.
Additionally, we need a Project Managers, Quality Assurance (QA) personnel, Equipment Custodian, Network Administrators, Desktop Administrators, and Trainers. The Equipment Custodian is in charge of ensuring we purchase and receive all the aforementioned resources. Our QA personnel are in charge of ensuring tasks are accomplished in accordance with manuals, operating instructions, etc. Additionally, they are responsible for the quality aspect of the project. The lead trainers are tasked with the primary training and our administrators test the network, install security systems, monitoring network traffic, and filtering emails.

Cost estimates for project resources:

Variance Baseline We desire to achieve the outcome for the Human Resources Deployment is going to require a very stringent and highly concentrated focus on maintaining a close adherence to the project timeline. While working on this timeline multiple data is an adamant goal for the project managers. The management will be looking into making sure that the timeline is closely monitored and kept. Much of this data will be monitored to expose possible weaknesses of the planning process. This will serve as a priceless amount of information for future endeavors Suchan (2012) this indicates some leading practices this will involve the application of the variance data. The means of collecting variance data will be comprised of the following:
Delegation of variance targets:
Before the project can start, prime areas of variance will have to be decided upon for tracking purposes. This process will be closely monitored and documented. When performing the baseline for this project variance will form this type of information to the staff, and will consist of measurements of quality, project milestones achieved performance metrics, and budget adherence. The success versus failure
Planned versus actual: Variance data will be looked at according to what is planned as opposed to what the actual outcome will be. This will largely be focused on the proposed scheduling timeline and project cost expectancies. As the project advances, variance data will be tracked according to what deviates from the planned objectives. This data will be captured in real time in order to provide insight for future milestone proceedings.
Estimates versus planned: This variance metric will focus on what was estimated for project details, such as schedule and cost, prior to the approved project plan. Such data will assist in greater accuracy of project planning, and will help to eliminate the guessing game. These variance metrics will be acquired through the collaboration between all stakeholders and resources.

Gantt Diagram Showing Project Duration Estimates Figure below shows the Gantt diagram for this project showing duration estimates for each task. The project will take approximately 20 weeks to complete. With a tentative project start date of October 12, 2015 the expected due date of this project will be January 27, 2016. The critical path in this project is identified on each task. This is identified in red. The duration estimates for this project were identified using bottom-up estimating where