Your project sponsor has asked you and your team to refine the cost estimate for the project so that a solid cost baseline exists for evaluating project performance.
Recall that your schedule and cost goals are to complete the project in six months or less for under $500,000. Initial estimates suggested that about $300,000 would be spent on internal labor.
You mistakenly thought that travel costs would be included in that $300,000, but now you realize that travel is a separate cost item. The trip to England early in the project cost $6,000, which you had not expected.
Prepare and print a one-page cost estimate for the project. Use the WBS categories you created earlier, and be sure to document assumptions you make in preparing the cost estimate.
Assume a burdened labor rate of $100/hour for yourself (the project man- ager), $90/hour for Teresa, James, and Le, and $80/hour for Matt. Assume about $200/hour for outsourced labor.
