Homework

Project Budget

Student’s Name

Institution

Date

Budget Estimation

                             Budgeted Costs for Sample Project

Duration (in weeks)

5

10

15

20

25

30

35

40

45

Total

Design

6

2

1

9

Engineer

5

10

12

 6

33

Install

7

15

30

8

60

Test

 1

5

8

5

2

12 

Total Monthly Cumul.

 6

 13

 31

 58

 95

 108

116 

 121

123 

114,000 

Monthly Budget of a project

Design = $ 9,000

Engineer =$ 33,000

Install = $ 60,000

Test =$ 12,000

Therefore, the total budget would be = $144,000

However, the monthly budget would be Total budget divided by the number of months.

Monthly budget would be =

The month budget of the project = 9,000+13,000+60,000+12,000 = 114,000

The monthly budget would then be $114,000 divided by 42

Monthly budget would be = $2,714.28

Cumulative budget would be the total of amout spends on a project in a month.

= 6+13+31+58+95+108+116+121+123

= 123,0000

Monthly cumulative = $123,000

B.  Draw a project S-curve identifying the relationship between the project’s budget baseline and its schedule

Graph 1: Relationship between project baseline and Schedule

The graphic indicates that there is a relationship between the schedule and the budget. The budget increase depends on the schedule. At the beginning of the schedule, the amount spend was less and it increases as the days and schedule move on.

4. Using the data in the table below, complete the table by calculating the cumulative planned and cumulative actual monthly budgets through the end of June. Complete the earned value column on the right. Assume the project is planned for a 12-month duration and $250,000 budget.  

 Activity                       Jan       Feb      Mar      Apr      May     Jun       Plan     % C     Value

Staffing                       8          7                                                          15        100                  

Blueprinting                            4          6                                              10        100                  

Prototype

   Development                                    2          8                                  10        70                    

Full Design                                                     3          8          10        21        67                    

Construction                                                               2          30        32        25                    

Transfer                                                                                   10        10        0                      

Monthly Plan                                                  98                                                                        

Cumulative                           362                                                                                                   

Monthly Actual           10        15        6          14        9          40        

Cumul. Actual                                  80