GET A PROFESSIONAL PAPER DONE BY AN EXPERT
Use the attached project idea- Substance Abuse Analyticsproject and continue to work on the following elements based off of it. Integrate the attached readings as well.The paper you are editing is Week6 Critical thinking exercise. Edit to make it flow better and ensure that the budget resource plan as indicated below is integrated into the project.For this assignment, you will start a work-breakdown structure (WBS), schedule and budget, and/or resource utilization plan for your portfolio assignment project. It is important to consider all aspects of the project when completing your schedule and budget/resource utilization plan.Your TasksFor this assignment, you will design the following elements. To make it seamless, it is advisable to use project software (i.e. ProjectLibre, MS Project, SmartSheet) that can integrate all elements together as you design your WBS.Work-breakdown Structure (WBS)Detailed WBS that includes task information, WBS numbering, and anticipated duration.If you are using project software, including resource/budget in the WBS line item and duration/task dependencies will help you create your schedule and budget quicker.ScheduleYou need to provide a graphical representation of your schedule. You can utilize any of the following types of schedule tools:Gantt ChartCPM ChartPERT ChartIf your project has tasks that are variable, consider using PERT with ranges of times for your duration. This will allow you to keep track of variances in the schedule.Budget/resource utilization planBudgets are utilized if there will be an expense associated with the project/WBS. This can be referencing your material cost, labor costs, or overhead costs.Resource utilization plans are helpful if budgets are not tracked (often with internal projects). You will want to track elements such as man-hours, materials/supplies, infrastructure needs, etc.Be sure that your elements are created clearly to the stakeholders of the project. If needed, provide a summary document with your required elements to explain anything.Use the folllwoing resources and readingshttps://www.pmi.org/learning/library/schedule-101-basic-best-practices-6701https://www.healthcarefacilitiestoday.com/posts/Developing-a-total-project-budget-for-a-healthcare-capital-project–14945Once we have determined the activities and risks for a project, we can start to develop the schedule and resources needed to complete the project. First, let’s cover the concepts of how we estimate schedules and resources prior to developing schedules and budgets/resource utilization plans. This is important so you understand how figures are developed and later updated as needed from change control processes.Levels of Estimates:Order of Magnitude: This rough estimate (also known as Rough Order of Magnitude or Conceptual Estimate) is an estimate that provides a general sense of the cost and timeline of a project without a full review of the project requirements. For example, one can say it will cost about $300,000 and take 9 months to renovate a clinical space or $400,000 and take 6 months to design a new EHR application interface. Variation of the estimates can be about 30-50% for these types of estimates.Preliminary/Feasibility: These estimates are considered the concept of what a proposal would fall into for most project bids or internal discussions. You will have usually the first two levels of your Work Breakdown Structure (WBS) activities defined as well as outcomes. Variation is typically around 10-20% for these types of estimates.Substantive: This is typically done after a thorough design is developed with estimates made into the part/component level and likely will have only variations based on risks or potential unintended consequences. Variance levels are smaller, typically around 5-10%.Definitive: If there is a certainty that there are no substantial risks or changes for the project, you can make a definitive estimate that goes into the exact costs, schedules, and resources required. If this is done, a change order is required with full-rework of the project schedule and costs to accommodate any changes.To determine these levels of estimates, one or both of the following compositions of estimates can be utilized:Top-down: This type of estimate composition comes from an exact constraint from a top-level entity and fits all components within it. For example, if you only have $20,000 to spend within 3 months on a new mobile application, you will have to fit all potential activities into that budget and schedule.Bottom-up: This type of estimate composition combines the estimates of all parts and creates a lump-sump budget and schedule at the end. It is critical that, based on these estimates, you determine any synergies (i.e. activities that can use like resources) or dependencies (i.e. activities that require another activity action) in order to properly determine your final budget and schedule.There are four common methods of gathering estimates from sources. These include:Expert Judgment: These estimates are gained by subject matter experts given their experience with various projects, materials, or processes. It is critical to use their information but to also validate it since concepts, processes, materials, and regulations may change.Analogous Estimating: This type of estimating involves comparisons to similar projects or project components. A good example of this is to compare the cost of developing a data lake for a similar-sized health center when giving an estimate for another potential health client.Parametric Estimating: This estimate will utilize unit measures to provide a base calculation for schedule or cost estimates. For example, many facility designs will look at the cost per square foot. Data warehouse designs may be built around the number of end-users, the size of data maintained, or the number of discrete tables kept.Three-point Estimating: If there is a potential for risk to the activity or variation in what estimates could be, you can utilize a three-point estimate. The estimator chooses a Most Likely estimate (normal) as well as an Optimistic and Pessimistic value. You can utilize either the triangular distribution (standard three-point estimate) or beta distribution (weighted three-point estimate) based on the confidence of your normal estimate.Once the estimates are collected and any dependencies or synergies identified, you will then utilize various concepts to develop your project schedule and budget. Given current technology, many individuals will utilize project management software (PMS) that can automatically calculate things such as project schedules, critical paths, resource costs and utilization, and more.
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