Project management encompasses a lot of processes without which a project can't execute efficiently. These include conception and initiation of the project, defining and planning the project, launching or executing it, checking its performance and quality and giving closure to the project. Each of these steps is vital and needs to be understood by you thoroughly.
PROJ 6002 deals with planning and cost management of the project. As our project management assignment help experts say, “cost management is the heart and soul of every project”, in this blog, we will help you understand the basic approach for completing a project planning and budgeting case study.
Assignment Help Era is a trustworthy firm and the first choice of students for getting reference solutions for all their project management case studies for more than a decade now. Let us now look at a few concepts involved in these case study tasks.
The 4 Steps Of Cost Management Process
Before we give you a brief detail about the approach that is used by our project management assignment help experts, we feel it is important for you to know the basic steps that come under the process of cost management in a project management plan.
The 4 steps are:
Step 1: Resource planning
After studying the scope of work for a particular organisation, it is the role of a project manager to ascertain the resources that the company would need in the future. Here, our PROJ 6002 help experts evaluate all the financial, informational, physical and human resources.
Moreover, we also design an asset with the help of information inputs.
Step 2: Cost estimating
The process wherein all the cost, prices as well as the resources are quantified is known as cost estimating. With the help of a lot of techniques and strategies, cost estimating is carried out which help in the decision-making process.
The reason why our project management assignment help experts consider this step as the most vital one is that cost estimating has to be applied in all the phases of the project life cycle.
Step 3: Cost budgeting
This step can be a sub-process that comes within the paradigm of cost estimating. The only difference that lies within these two steps is that cost budgeting depends on various constraints such as the cash flow and address budget involved in the project management plan.
Step 4: Cost control
As per our experts, cost control is considered to be the most tedious step in a project planning and budgeting case study. The reason being, the inclusion of several other processes in this step. It covers measuring variances and goes till taking proper corrective action to mitigate all the costs involved in the plan.
There is a process for measuring the project performance that is depicted in the image below:
Using these four steps, our project management assignment help experts apply the cost management process in the case studies. This not only makes the solution relevant but also gives an expert touch to the solution. In case, you are not clear with any aspect of this process, then you can always rely on our project management help experts for guidance.
What Are The Assessment Modes Under PROJ 6002?
It is believed that for all the students who study PROJ 6002 Project Planning and Budgeting as their course, preparing a project management plan is a must. With the help of this plan, they will be clear on how to execute a project, how to monitor and control a project. In this assessment, students will be made familiar with the different components of this plan as per their chosen or given case study.
In the first part, the component of project schedule management will be talked about. And in the second part, students will get an idea about the project scope and time management plans.
Let us know each of these in detail now.
A screenshot of the PROJ 6002 Project Planning and Budgeting case study is given below. In this, the case background is given based on which a lot of project plans were presented in the given question file such as:
You need to formulate the two components of these project plans respectively. Now, let us talk about each of those.
Part A- Module 2 Discussion Activity
As discussed earlier, the first part of this assessment requires students to work upon the schedule management of the given project. In this section, you need to discuss the changes that can affect the schedule of the project.
Here in this 750-word document, our project management assignment help experts suggest all the possible communication methods convey these changes to the stakeholders of this given project. Also, we use suitable examples from the case study that is given to us to make this report more credible.
In about 500 words, our project management assignment writers give a brief discussion about the scenario and the changes that can occur. In the last 250 words, we comment upon the discussion of some other student, to present multiple perspectives in our work.
Part B- Scope and Time Management Plans
The second part of the assessment is a 1500-word document that will be a subsidiary management plans based on the information given in the Project Planning and Budgeting case study. In this report, our experts include the following headings:
For the WBS and the statement of the project scope, our project management assignment help experts make use of the templates that have been given in the learning resources for this module. However, you can also go for your own customised templates.
Talking about the schedule of the project, we use the critical path method (CPM) to draw a network diagram.
Further, using the ProjectLibre or Microsoft project, which is some of the best scheduling software, we create the project schedule as follows:
For this PROJ 6002 assessment, our project management help experts first begin by sketching the components related to the cost and quality management plans for this project planning and budgeting case study. In this procedure, the main thing to emphasis is deciphering the cost estimate of the project. When you have this component with you, it will be easier for you to find out the project budget baseline portion of the management plan for your project.
In addition to the estimated cost and budget of the given case study, our project management assignment help experts also talk about the different processes in the management plan, tools, and techniques that they use and also justify their budgetary plan.
This is just a brief of the entire assignment. We have done our bit to incorporate all the imperatives in this approach, however, a lot of concepts are yet untouched. If you require us to give you an in-depth analysis of those, then just submit all the requirements to us and let us work for you.
Have Your PROJ 6002 Project Planning And Budgeting Case Study Written By an Expert
In this blog, you have seen all the essentials for such case studies. Even if you’re not aware of any of them, we are sure that now you are good to go. The project management process is extensive and requires quite a lot of effort and time to understand. Naturally, dealing with these complex project planning and budgeting case studies is not the cup of tea for every student. Assignment Help Era has been playing the role of a saviour in such situations, rescuing students out of all their assignment perils. From studying the background of the case to finding appropriate solutions to the problems addressed in the PROJ 6002 case studies, our project management assignment help experts have always supported students with their problems and difficulties. So, contact us today for procuring your reference case study solution now!