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Project Management

Assume that you have been selected to serve as the project manager for a management consulting project for a client based in the United States. You have developed the WBS and listed the activities for the assignment, which involve large-scale market research in a new market. You are responsible for project costs and are keen on developing realistic cost estimates and project budget. You have estimated the following effort:
WBS
Tasks
Duration
Resource Type
Effort in Days
1.1
Final proposal and contract documentation
4 Days
Junior Consultant
4
Legal Consultant
1
Vice President
1
1.2
Assignment kickoff workshop
2 Days
Junior Consultant
2
Senior Consultant
1
Vice President
1
2.1
Designingmarket research
5 Days
Product Expert
1
Junior Consultant
5
Senior Consultant
2
2.2
Pilot run of market research
10 Days
Junior Consultant
3
Intern
10
Senior Consultant
2
2.3
Final market research design and signoff
2 Days
Junior Consultant
2
Senior Consultant
1
Vice President
1
2.4
Market research 1
32 Days
Junior Consultant
20
Senior Consultant
2
2 Interns*
28
2.5
Market research 2
32 Days
Junior Consultant
20
Senior Consultant
2
2 Interns*
28
2.6
Data collation and analysis
5 Days
Junior Consultant
5
Senior Consultant
3
2 Interns*
5
Vice President
0.5
3.1
Final report preparation
3 Days
Senior Consultant
3
Junior Consultant
3
Vice President
0.5
3.2
Presentation to client
1 Day
Senior Consultant
1
Junior Consultant
1
Vice President
0.5
*Please note the use of 2 resources in this case.
The rates per day for the resources are as follows:
Resource
Rate Per Day
Junior Consultant
$750
Intern
$250
Legal Consultant
$1,500
Product Expert
$3,500
Senior Consultant
$1,500
Vice President
$3,500

The tasks above are listed in sequential order. The exceptions are market research 1 and 2, which can start simultaneously.
This assignment has two parts. Complete Part 2 after completing Part 1.
Part 1:
Develop the budget for this project by allocating cost over actual work time and the calendar time line. Draw a graph for the time line of the project and the money spent on the project. Assume that the payments to all resources are made on a daily basis.
Part 2:
For the consulting assignment, assume that the total project budget is spent equally on a daily basis and the work done each day contributes equally toward the project completion. You are now at the end of Day 25 of the project, the company has already spent $48,000, and the project has delivered 5% more than planned at the end of Day 25.
·What is your assessment of the schedule performance index (SPI) and cost performance index (CPI) of the project? What actions or corrective actions would you want to take, keeping in mind the project performance so far?
·How much moremoneymust be spent to complete the project, and what would be the total cost of the project when it is completed, as per the details given. (1000 Words)
·
Please make sure that you cite and reference all your outside sources properly, as per the Harvard Referencing System.

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