Deliverable 6 - Budget Template
Objective
This deliverable will examine your ability to consider apply budgeting principles to functional project management.
Instructions
Project managers have to be able to work with functional mangers to develop the project budget. Without one, project success is unlikely.
Therefore, this deliverable will allow you to test your budgeting acumen and as you lay out a project budget.
1. Download the Budget Template and the Project Budget and Resources documents.
2. Fill in the Budget Template by referring to the Project Budget and Resources document
a. The Budget Template has a separate tab for each phase of the project and a summary tab that shows the total cost of the project
b. Make no entries on the summary tab. The budget information on the summary tab is automatically updated from your entries on the other three tabs of the project
c. Use the task/ resources list provided in the Project Budget and Resources to add the appropriate resources to each phase of the project on each tab
d. Use the project calendar that you created earlier in the course project to allocate costs across the projects four month timeline
e. Ensure that budget entries are the actual labor costs
- Calculate labor costs by multiplying hours worked by the hourly rate for the resource
f. Budget must contain all project costs.