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Project Cost Estimates

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Assignment topic: Project Cost Estimates

Format: APA
Number of pages: 15 pages / 4125 words

ESSAY WRITTEN SOLUTION

 

Executive Summary

 This project is about the construction of a Children’s Garden Park Project (CGPP) which will be used as a therapeutic park for special needs children with the community. The project will be develop by rehabilitating an abandoned hotel and its surrounding land. The old hotel and its surrounding land will be revitalized into a garden, park and playground with handicap capable equipment. In order to allow handicap children access to the park, the existing pools will be retrofitted. Besides, the hotel rooms will be converted into therapy room while other rooms will be enlarged into playrooms.

Besides, the organizational l structure to be applied in this project will be a combination of Project Oriented (hybrid) and Functional Organizational structure as per A Guide to the Project Management Body of Knowledge (PMBOK® Guide). There will be Kick-Off Meetings to help discuss and develop all logistic needed to ensure the project works smoothly. The allocated budget for this project is predetermined and is estimated to be $ 10 Million.

There will be resource management system that has the mandate to recruit, employ and manage all employees. The resource management department will also help in allocation of resources in all departments. Additionally, quality management department we will have all the contractors reporting directly to the project manager. The project will also have to be done according to the special and standard specification of the design and construction manual. Besides, every material purchased must be checked against the codes if it meets the requirement stated in the design manual.

There are also other departments like the procurement, communication, risk management, and monitoring and control department. The project manager will have to ensure all these departments work properly and in collaboration with one another and in order to ensure this, there must be proper channels of communication between the departments.

 

 

 

Table of Contents

 

Project Overview.. 4

Justification of the Project Organization Selected. 4

Project Kick-Off Meeting Agenda. 5

Work Breakdown Structure. 5

Project Budget 5

Resource Management Plan. 5

Quality Management Plan. 6

Risk Management Plan. 6

Procurement Management Plan. 6

Stakeholder Management Plan. 7

Communications Management Plan. 8

Project Monitoring and Control 8

Project Change Management 8

Project Closing. 9

Lessons Learned. 9

References. 9

Appendices. 10

Appendix A: Project Charter. 11

Appendix B: Initial Scope Statement 12

Appendix C: Kick-Off Meeting Agenda. 13

Appendix D: Put additional Appendices here and beyond. 13

 

 

 

 

Project Overview

Children’s Garden Park Project (CGPP) is a projects that aims at fulfilling the needs of the community. CGPP entails development of a therapeutic park for special needs children within the community. Due to inadequate land, the project will aim at converting and revitalizing an old hotel and its surrounding into a garden, park and playground with handicap capable equipment. In order to allow handicap children access to the park, the existing pools will be retrofitted. Besides, the hotel rooms will be converted into therapy room while other rooms will be enlarged into playrooms. Administration offices and storage rooms will also be included. More details can be found in Appendix A and Appendix B which are project charter and scope respectively.

Justification of the Project Organization Selected

The organizational structure to be used for this project is a combination of Project Oriented (hybrid) and Functional Organizational structure as per A Guide to the Project Management Body of Knowledge (PMBOK® Guide). Through the Project-Oriented management style, the project manager is able to have full authority of the project while the Functional structure ensures that the job is done faster by organizing the teams appropriately. Therefore, this structure will enable the project manager to oversee the resources, time and budget allocated for the project AGu, 2017).

As illustrated in Figure 1below, the groups will be subdivided into inside and outside, which will then be broken down into the technical trades. The project manager will have a full time and designated role who will have a full authority over the technical trade project managers. Besides, we will have a full time administrative staff whose role will be to handle the daily activities such as generating payrolls, human resource management, managing finances, logistics, making purchases and safety. The last department will be the quality control section that will have a mandate to handle inspections and ensure the project remains compliant

 

 

 

 

Figure 1. The Project Organizational Structure

 

 

Project Kick-Off Meeting Agenda

The Kick-Off meetings are to help forward the initial request analysis based on project requirements. In the meetings the leads will be presenting the measures for key decisions like project budget, duration and resources that are needed to commence the project. Below are the aspects that will be discussed in the meeting;

  • Project scope
  • Main decisions on business and technical objective elements
  • Structural organization
  • The constraints, exclusions and boundaries of the project
  • Working methodology
  • Success criteria of the project
  • The role of leaders and employees in the project

The purpose of these Kick-Off meetings is to discuss and develop all logistics needed to make sure the project work. All the leaders in the project are required to attend the Kick-Off meetings because each of them has part in the meeting as shown in Appendix C. The meeting are to be held after every two weeks in order to review the progress of the project and the preferred method for the meetings is through WebEx (Kerl, 2017).

Work Breakdown Structure

.

 

 

 

 

Figure 2. Work Breakdown Structure (WBS)

Project Budget

The project had a predetermine budget which included the total of the entire direct project cost. The allocated budget for the project is $ 10,000,000. However, the indirect cost is calculated as a percentage of the direct cost allocated for the project. The table below shows the distribution of the budget.

Table 1: Estimated Project Budget

Item Cost Assumption
Direct Project Costs $10,000,000 From Estimate
Project Overhead 300,000 3% of direct project cost
General and Admin Overhead 200,000 2% of direct project cost
Budget Reserve 400,000 4% of direct project cost
Management Reserve 300,000 3% of direct project cost
Total project budget $11,200,000.00

Resource Management Plan

Resource management plan is the strategy put in place to ensure smooth construction of the Children’s Garden Park Project (CGPP). The main purpose of the resource management plan is ensuring that needs of the project are met and that the project runs smoothly. The following are the roles of the team members;

  • To implement a safety department that ensures the safety of all worker and ensures that all workers observe safety precautions while working.
  • Recruiting of construction management team who will be responsible for the construction, purchase of material and paying of contractors. The person recruited must have knowledge on construction industry and should have a Gold Standard Hard Hat to show he is approved contractor.
  • The total number of people employed will be four. The first person is the construction manager whose duty is to be oversee all the construction workers, the second employee will be the senior specialist in charge of running background of the total project, then we will have a chief construction inspector whose work is to deal with the builder and finally there will be an inspector whose work is to oversee the daily activities of the project.

Payment to the employees will be mainly done on a monthly basis where each employee will be given salaries based on the amount agreed during recruitment. Besides, we will have volunteer from the community who will help us run the project and once the project is done they will be allowed to use the playground for free for a period of three months. Other employees will come from trainees who are university students seeking attachment or internship.

 

Quality Management Plan

In any project, quality is something that cannot be overlooked. This project is one of the most delicate project that requires the high quality work for safety purposes. Therefore, we will have all the contractors reporting directly to the project manager. The project will also have to be done according to the special and standard specification of the design and construction manual. Besides, every material purchased must be checked against the codes if it meets the requirement stated in the design manual. Once work is done, it must be thoroughly assessed and tested before any approval is given to proceed to the next step. Therefore, we will have inspection forms and test reports of every material and work done, which will be filled and submitted by quality to the project manager. In case of any discrepancies found, the team will have easy time making correction and prevent cover-ups. The correction measures done will be recorded and filed.

 

Risk Management Plan

Table 1 include risk identification where top five risks to the project are listed in the order of the most severe to least severe to prioritize accordingly. The next table is Table 2: where the impact of each risk is given if they occur and their probability of occurrence in order to determine the risk severity.  After identifying and ranking the risks, they are now prioritized in three categories which are High, Medium and Low as shown in Table 4.

Table 2: Risk Identification

Risk # Short Description
1 Drawings/Plan not meeting required specification for approval by the city
2 Inadequate labor
3 Fluctuation of material cost
4

5

Unpredictable weather conditions

Poor land condition with bad terrain that requires more preparation before constructions  

 

Table 3: Risk Severity Assessment

Risk # Impact (I)
(1 to 5)
Probability (P)

(1 to 5)

Severity Score

(I X P)

1

2

5

4

3

2

15

8

3 4 2 8
4 3 2 6
5 4 1 4

 

Table 4: Risk Prioritization

Risk # Risk Category Description
1 High

 

It is a high risk because drawings and plan are the top priority for this project to be actualized. It is likely for the plan to be rejected first time they are submitted.
2 Medium Shortage of labor is a medium risk since if they were to occur, the risk would have a significant impact to the project. Regardless of the risk being low, the team will have to put effort to try and minimize it
3 Medium Fluctuation of material cost is a medium because it has a significant effort to the project. Therefore, the team needs to monitor and manage the risk.
4

 

 

 

 

5

Low

 

 

 

 

Low

Bad weather is a low risk and that does not need a higher priority, this is because the city is known to have good weather conditions throughout the year.

Bad terrains of the land is not a high priority risk because the land was already used and prepared well.

 

 

Procurement Management Plan

The bid will be sent to top three vendors who will adhere to the required standards. The contractors must maintain a budget of $10 million with an insurance policy to cover $10 million. The bidders should also be part of The Golden Standards. Based on the duration of the project, the contract will be a fixed unit price. The projected duration of the project is 1 year with only 1 month as a contingency time. This contract will be a fixed unit price for the duration of the project. The project will have a build duration of 1 year with a contingency time of 1 month.

Since the type of procurement tool to be used for this project is the fixed price contract, we will place a tender of various goods and services we need and the price we agree to pay. However, the agreement will be flexible in order to accommodate any changes that may occur in the process. However, the suppliers will also have to adhere to time and quality of good and services delivered. In case of any delays and poor quality, the contract will be terminated immediately.

 

Stakeholder Management Plan

 

Table 5: Stakeholder Identification

Name Company/Title Stakeholder Category/Type) Degree of Impact on Project
William Smith CEO Executive Keep satisfied
Alexandra James MD: Morris Group International Suppliers Keep Informed

 

Johnson Joel Joel & Co. Construction Company owner Fully engaged
Allan Smith XL Construction Corporation Company Owner Fully engaged
Cisco Financers Sponsor Keep Informed
Community Surrounding community Customers and end users Minimum Effort
Vincent Kalisi Project Project manager Fully engaged
Joel Austine Project Team Member Fully engaged
Eriksen Smith Project Team Member Fully engaged
Barrack Obama Project Manager Fully engaged
Jacktone Johns Project Resource manager Fully engaged
Japheth Victors Project Senior manager Keep Informed
       

 

Communications Management Plan

Communication is a key element in all project and it cannot be assumed since it ensure smooth running of the project activities. Poor communication will lead to delays, conflict and poor quality work. In this project, communication will be emphasized fully and it will be carried out through Skype. Skype is the most recommended platform for this project because most of the team member are not able to attend the in-person meeting. For daily communication, the project manager will use memos and emails to pass any information to particular team or person. Table 5 below indicates the report that will be generated for each target group as well as the frequency needed to deliver the report, technique to be used and the responsible person.

 

Table 5: Project Communications Management Plan

Target Group/Individual Report Frequency Method Person Responsible
Project Manager Budget, completion status, update work in process and current issues Weekly Status Meeting Managers
Project Manager Scope changes, budget changes, schedule changes and new requirements As needed Meeting and written Communication Sponsor
Front line Managers Scope changes and project updates Weekly Staff Meeting Project Manager
Team Members Scope changes, schedule review and priorities Daily Daily Standup Meeting Managers
Investors Budget Expense and schedule report Monthly Budget and schedule report (written communication) Project manager
Sponsor Budget expense and schedule report Monthly Budget and schedule report (written communication) Project Manager
Financers Budget and expense report Monthly Budget and expense report (written communication) Project Manager
Managers Status report Daily Daily Standup and end to day status (Written communication) Team Members
Suppliers/Vendor Request for quote for materials As needed Meeting and written communication Team Members/Managers
Consultants Risk Analysis, risk identification and new requirements As needed Written communication and Meetings Project manager/Manager/Team Members

 

Project Monitoring and Control

During the construction or implementation process, the project should be monitored and control in order to ensure that we work within the estimated budget and time. In figure 3, project control and monitoring plan is fully described and it is a linear cycle that allows feedback loops. To ensure the project remains within the scope, there will be a team mandated to monitor all the activities and control so that the project does not go beyond the scope. Besides, design standards and manual will be used in every step of the construction process to ensure quality is controlled.

Figure 3: Monitoring and controlling the project

Note: Figure 3 image retrieved from Pmgroupi1c. (2018, 02 08). pmgroup1c. Retrieved from wordpress: https://pmgroup1c.wordpress.com/2018/02/08/project-monitoring-control-method/

Project Change Management

Changes in the project are inevitable. The following are some of the changes expected and how to control them;

  • Change in weather condition is something that cannot be avoided. Sometime the weather may be too unfavorable to carry on with work which may lead to delays thus extra expense may be incurred. To control this change, we will have to work extra hours each days to compensate time wasted.
  • Fluctuation of prices is something that is not within our power and it is mainly affected by time. Prices may change any time based on the economic condition of the country. In order to try and control this change, we may try and purchase all the required materials at ones which will also help to reduce transportation cost.

Project Closing

This is the final phase of the project life cycle. Closing a project is not only all about executing deliverables. Closure phase of a project ensures all the loose ends are connected, all documents are signed and approved, payments to contractors are cleared and no issue is pending. The closing phase also allows you to evaluate and review the project success which is essential for planning another project in the future.

Lessons Learned

Lesson I have learnt is that the success of any project relay on all the departments. For this to happen there must be efficient flow of communication within the departments to avoid collision amongst the workers and poor quality work. Therefore, communication should be clear and often check with the team if there is any improvements needed.

Besides, project planning is important because this is where you check if the time and budget allocated will be enough to implement the project. For that reason, I have learnt that you need to do proper preparation or planning before commencing on any project.

 

References

A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (Sixth ed.). (2017). Project Management Institute.

Agile Practice Guide. (2017). Project Management Institute, Inc.

Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling (12 ed.). Hoboken: Wiley.

 

 

Appendices

 

Appendix A: Project Charter

(Note: Appendix A should be on its own page.)

 

Project Name Project Charter

The Children’s Garden Park Project

Executive Summary/Background

Our company has been hired to rehabilitate and convert an old hotel and it surrounding land into a therapeutic park for children with special needs. This park will help motivate children to go and receive their therapy since they will also have a place to enjoy playing. This park plays an important role because children fear going to the hospital for therapy therefore most of them would prefer using the park.

Goals

  • Construct 20 individual therapy rooms, 5 office rooms, 5 storage room and 20 large group therapy or play rooms
  • Rehabilitate one section of the land into an outdoor therapy park and playground.
  • Convert the hotel’s swimming pool into a therapy pool by including a handicap crane and railings insider and outside the pool to help children comfortably use the pool.

Scope

The scope of the project is to have a complete and well equipped therapy park for children with special needs. This will include conversion of the hotel rooms into playrooms, therapy rooms and offices. Another milestone include is rehabilitating the surrounding land of the hotel into playgrounds.  Finally, the hotel swimming pool will be converted into a fully functional therapy pool that includes railing, safety tethers that has alarms just in case a child is distressed, ramps and special needs cranes.

Key Deliverables

At the completion of this project, the community will have a functioning therapy parks for children with special needs within the city as well as the surrounding communities.

Key Stakeholders

Project Sponsor (Product Owner) The community of City of La Jolla
Project Manager (Scrum Master)  
Project Team Members [names]

 

Indicate Project Manager’s Authority Level

(How much authority do they have over budget? What kinds of issues must they take to the project sponsor (owner) for approval? What do they have the authority to do?)

The project budget is approximately $10,000,000 and the project manager together with the project team members have 100% authority over this budget. Therefore, with such authority, they are allowed to do all the purchase, hire contractors and modify the budget. However, they must adhere to all OSHA regulations.

 

Expected Project Milestones

Begin the outside project on 30th May, 2022

August 1st, 2022: Outside construction/landscaping completion. Start inspection.

October 1, 2022: Building interior start.

November 1, 2022: Building completion. Begin inspection.

December 1, 2022: Begin pool reconstruction.

January 1, 2023: End pool construction. Begin inspection and final clean up.

February 30, 2022: Project Completion. Certificate of Occupancy attained

 

Project Budget

Hotel Conversion $4,000,000
Swimming pool $1,000,000
Park $2,000,000
Playground $3,000,000
Total $10,000,000

 

Constraints, Assumptions, Risks and Dependencies

Constraints Unfavorable weather conditions

Limited budget

OSHA regulations

Inadequate time to develop and implement the project

Delay in deliveries

Assumptions The approval of the drawing done on time

The Kick-Off meetings is assumed to be smooth

It is assumed that there is already an old hotel that is proposed for the project

It is assumed that the allocated time and budget is enough for the project

The Project building meets codes

No delays are experienced

The equipment are assumed to have no defects

Risks and Dependencies Risk of human error during construction and calculations

Unexpected injuries

Some equipment may have defects

 

[Name], Project Sponsor [Name], Project Manager

Approval Signatures

 

 

Appendix B: Initial Scope Statement

(Note: Appendix B should be on its own page.)

 [Project Name] Initial Scope Statement

Project Purpose
The community are in need of therapy services suitable for children with special needs as most of them fear going to the hospital. The Children Garden Park Project is a park proposed to meet this need. This park will grant the children with special need to develop skills necessary to help them understand their disabilities as well as learn to adapt so as to allow them participate in their daily activities.
Goals & Objectives
The key objectives that the project is aiming to deliver, ideally listed in decreasing priority order.

Ø  Construct 20 individual therapy rooms, 5 office rooms, 5 storage room and 20 large group therapy or play rooms

Ø  Rehabilitate one section of the land into an outdoor therapy park and playground.

Ø  Convert the hotel’s swimming pool into a therapy pool by including a handicap crane and railings insider and outside the pool to help children comfortably use the pool.

 

Scope Summary/Boundary Conditions
Children’s Garden Park Project is mainly constructed specifically for children with special needs by providing them with therapy session as well as give them suitable environment to receive their treatment.  The allocated budget is proposed to be $10,000,000. Besides the budget is also estimated to end within a period of 10 months that is from May 2022 to February, 2023.
Scope Details
In Scope

Specific items/features that will be delivered as part of the project.

Ø  Create a therapy park for special need children

Ø  Conversion of the inside building into therapy rooms, offices and playrooms

Ø  Conversion of the outside area into playgrounds and garden

Ø  Converting the hotel swimming pool into a therapy pool

Out of Scope

This section identifies areas where there may be confusion around the scope and explicitly excludes those areas.

Ø  Subcontractor liability insurance.

Ø  The demolition of hotel interior.

Ø  Environmental study.

Ø  Surveying of the land.

Ø  Marking of utilities.

Ø  Damages due to improper utility marking.

Ø  Foundation repairs.

Ø  Roof repairs

Ø  Repairs due to Asbestos or lead findings

   

Appendix C: Kick-Off Meeting Agenda

(Note: Appendix C should be on its own page.)

Topic Leader
Introduction of team members Project manager
Discuss Project Sponsors
Identify Stakeholders Project manager
Review of project objectives Project manager
Deliverables Section lead
Review team roles and responsibilities Project manager and project team
Review of risk, concerns, issues and questions Project manager
Frequency of future meetings Project manager

 

Appendix D: Put additional Appendices here and beyond

 

[Create additional appendices as specified in the template or as needed. To create an Appendix heading that appears in the table of contents, type the Appendix heading. Format it as heading 2, and then take off the bold by going to the Font group under the Home tab]

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