Note: The cost categories should include direct labour, indirect costs, other direct costs and contingencies. Project budget for ¦¦¦¦¦¦ Cost category Detail Cost Total Cost task 2 of 2 Assessment title: Contribute to a cost-finalisation process Type of assessment: Written task ? report Checklist Once you have completed all parts of this assessment, you will need to submit the following document on OpenSpace: 1 A cost-finalisation report ? Part 3: Contribute to a cost-finalisation process Instructions To complete this assessment, you are required to choose a project. The project could be one that you are currently working on, have worked on in the past, or you may prefer to use one of the case studies provided in the appendices: ¢ Appendix 1: Case study 1 ? Construction-for-U OR ¢ Appendix 2: Case study 2 ? Thomas and Brian Brown Pty Ltd. If you choose one of the case studies, you will need to carry out the following tasks to complete the templates provided in the appendices of this document: ¢ determine the methods that you would use to estimate costs for your project ¢ calculate the duration, effort and time required to complete your project’s activities ¢ identify the resources required to complete your project’s activities ¢ determine how you will communicate cost estimates and budgets to the project stakeholders ¢ identify the expenses of your project’s resources and activities ¢ determine how you will manage your project’s costs ¢ determine the methods, tools and techniques that you would use to identify, address and report budget variations ¢ develop a budget for the project. If you choose Case study 2 ? Thomas and Brian Brown Pty Ltd, you need to determine the type of company, the products it provides and the type of industry involved. If you choose an external project: ¢ ensure that you can successfully complete the templates in the appendices before you begin ¢ ensure that you answer all the questions in this assessment ¢ if there is a question that does not directly apply to your external project, imagine what you would do and write a hypothetical answer. Include all items listed on the checklist to create your portfolio of evidence. Upload your portfolio of evidence to OpenSpace. Write a report (approximately 1000 words) on the processes used for cost finalisation and the review of project outcomes. Include responses to the following in your report. 1. a. Describe the cost-finalisation process followed for your project. b. Describe how financial assets and liabilities were transferred to relevant parties. c. Explain how you assisted in this process. 2. Describe how the review of project outcomes was conducted to determine the effectiveness of the cost-management processes. Include in your response: a. the project cost records that were reviewed b. the procedures that were followed c. the documents that were used to conduct the review d. your contribution to this process e. the recommended improvements to the cost-management processes. 3. Discuss at least two (2) lessons learned from the monitoring process and how these could be used to improve future projects. Appendices Appendix 1: Case study 1 ? Construction-for-U Construction-for-U is a medium-sized construction company owned by Edward Eastings. Mary Solder wants her old four-bedroom house removed and replaced with a small complex of four units. Her house sits on half an acre of land and only has access from the front, as it adjoins three other properties. The property is not fenced and only has dirt road access. Access to the house is very limited when it rains. A maximum of eight people, including contractors and their apprentices, can be working on the site at any one time, due to insurance requirements. Malcolm Collins is the manager of the project and he has completed a feasibility study on it. Outcomes of the feasibility study ¢ The sandy soil has been tested to ensure for an adequate depth of the clay base for the construction of solid foundations for the units. ¢ Council has approved the demolition of the building and the construction of the units. ¢ Construction of the units must include seepage drains, sewerage connections at the front of the property and appropriate measures must be used to ensure adequate drainage of the property. ¢ Care must be taken during the demolition and construction activities to prevent damage to underground electricity and telephone cables and natural gas pipes. ¢ The property is of adequate size to accommodate the four units. ¢ Access to the units must be provided in same location as the existing driveway. Edward has provided you with the following instructions to assist Malcolm. The tasks you need to complete include: ¢ determining the methods that you would use to estimate costs for the project ¢ calculating the duration, effort and time required to complete the project’s activities ¢ identifying the resources required to complete the project’s activities ¢ determining how you will communicate cost estimates and budgets to the project stakeholders ¢ identifying the expenses of the project’s resources and activities ¢ determining how you will manage the project’s costs ¢ determining the methods, tools and techniques that you would use to identify, address and report budget variations ¢ developing a budget for the project. Appendix 2: Case study 2 ? Thomas and Brian Brown Pty Ltd Thomas and Brian Brown Pty Ltd is an organisation that has been in business for 17 years. Thomas Brown and his brother Brian are the owners of the company that involves: ¢ an Operations department that employs 18 people; the team is managed by Colin Candy ¢ a Sales department that employs 11 people; the team is managed by Sarah Geelong ¢ a Finance department that employs 6 people; the team is managed by Jo Wu ¢ a Customer Service department that employs 16 people; the team is managed by Barbara Saunders. Many of the workers have been employed since the organisation began. The culture of the company is very resistant to change. Thomas Brown has decided to take steps to increase productivity by introducing new equipment into the company’s four departments. He has allocated a budget of $400,000.00 to cover these improvements. A feasibility study has been completed for the project. Outcomes of the feasibility study ¢ Employee surveys indicate that a high percentage of employees will not be happy with the changes and may demonstrate resistance. ¢ All equipment and technology need to be relatively easy for all employees to use and technical support must be available. ¢ The benefits to productivity and customers need to be of prime concern and be used as a tool to manage any resistance. ¢ Implementation of the project must have minimum effects on customers and employee levels of productivity. Normal trade and productivity must be achieved throughout the duration of the project. Thomas has asked you to assist the project manager with the introduction of the new equipment and communications technology. The project starts two weeks from today and needs to be completed in seven months. The tasks that you need to complete include: ¢ determining the methods that you would use to estimate costs for the project ¢ calculating the duration, effort and time required to complete the project’s activities ¢ identifying the resources required to complete the project’s activities ¢ determining how you will communicate cost estimates and budgets to the project stakeholders ¢ identifying the expenses of the project’s resources and activities ¢ determining how you will manage the project’s costs ¢ determining the methods, tools and techniques that you would use to identify, address and report budget variations ¢ developing a budget for the project. t.
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