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Assigned Readings Assigned ReadingsAttached Files:  Chapter 9-Resourcing Projects.pptx Chapter 9-Resourcing Projects.pptx - Alternative Formats (1.875 MB)  Chapter 10-Budgeting Projects.pptx Chapter 10-Budgeting Projects.pptx - Alternative Formats (1.302 MB) Chapter 9: Resourcing Projects.This chapter demonstrates how to schedule resources on projects: determining the need for workers, understanding who is available, and assigning people. All of the techniques of resourcing projects are integrated with the behavioral aspects of how to deal effectively and ethically with the people involved. Resource needs are shown on a Gantt chart developed in Chapter 8, the responsibilities are shown as they change over time, conflicts and overloads are identified, and methods for resolving conflicts are introduced. Alternative approaches for creating and compressing schedules are shown. Many of the techniques in this chapter are also shown with MS Project.After completing this chapter, each student should be able to perform the following:Core Objectives: Show resource assignments on a RACI chart, Gantt chart, and resource histogram. Develop an effective project schedule, considering resource constraints. Describe methods of resolving resource overloads. Behavioral Objectives: Create a Human Resources Management Plan including role descriptions and staffing management plan. Assign roles and responsibilities based on strengths. Technical Objectives: Compress a project schedule using crashing and fast tracking, and describe the advantages and disadvantages of both. Compare various alternative scheduling methods. Using MS Project, assign resources, pinpoint overloads, and describe methods of dealing with them. Chapter 10:   Budgeting Projects.This chapter discusses the project budget, which is dependent on both the schedule and the resource needs developed in the previous two chapters. The project budget is the sum of work package cost estimates, contingency reserve, and management reserve. Cost planning, estimating, budgeting, establishing cost control, and using MS Project for project budgets are all included.After completing this chapter, each student should be able to perform the following:Core Objectives: Define project cost terms and tell how each is used in estimating project cost. Compare and contrast analogous, parametric, and bottom-up methods of estimating cost. Create a time-phased, bottom-up budget for a project. Technical Objectives: Show both summary and bottom-up project budget information with cumulative costs using MS Project. Behavioral Objectives: Describe issues in project cost estimating and how to deal with each.  Reflection and Discussion Forum Week 5 Reflection and Discussion Forum Week 5Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.  Also, provide a graduate-level response to each of the following questions: Describe a potential timing issue that can occur early in a project and a potential timing issue that can occur at the end of a project. How would you address each of these issues in your project? Compare a project you’ve worked on that was limited mostly by activities with another project you’ve worked on that was limited mostly by resources. Which did you find more challenging?  Why?  You are the project manager in charge of construction of a new school building.  Give one possible example each of a known known, known unknown, and unknown unknown you might encounter. Give an example of how a project manager could run into problems with cash flow, even when he is within budget on the overall project. [Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion]. [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]    Problem Set #5 Attached Files:  RACI Chart - Types of Cost Exercise.docx RACI Chart - Types of Cost Exercise.docx - Alternative Formats (22.497 KB)  RACI Chart.xlsx (12.602 KB) RACI Chart and Types of Costs ExerciseFor Week 5 you will continue to develop your project documentation by completing a RACI chart based upon the Week 2 Business Case project. The first part of the exercise will be to fill in the chart provided within the attached RACI template Excel file. This should be completed for all six (6) Key Deliverables for any  six (6) of the stakeholders you identified in Week 6 exercise.The second part of the exercise will be to copy and paste the chart into the Word template provided.  The chart should be formatted so that all information is legible and shown within the document. Then, you will draft and explanation/justification of why you made the selections you did for any one (1) of your Key Deliverables (this includes each of the Activities as well).The third part will be to provide the Types of Costs analysis. Instructions are in the attached document.Submit only the exercise completed in the Word template (not the Excel file).Sheet1 RACI Chart WBS WORK PACKAGES & ACTIVITIES Stakeholder Stakeholder Stakeholder Stakeholder Stakeholder Stakeholder 0.0 Project Name 1.0 1.1 1.2 1.3 2.0 2.1 2.2 2.3 3.0 3.1 3.2 3.3 4.0 4.1 4.2 4.3 5.0 5.1 5.2 5.3 6.0 6.1 6.2 6.3RACI CHART/ TYPES OF COST EXERCISE When you have completed your RACI Chart in Excel format you will copy and paste it into this document replacing the example below. Follow these steps to complete. 1) Hover your cursor over the blank template below. You will see a small square with crossed arrows inside appear above the upper left-hand corner of the chart. Right click on this square and click Delete Table on the menu that will appear. 2) Go to your Excel file and highlight the full area of the complete RACI Chart. Right click within the selected area and click Copy in the menu. 3) Return to this template. Click the top line of page two previously occupied by the blank template. Then, right click to get the action menu. Under Paste Options you will see several icons. Hover your cursor over the second icon (which should appear as a clipboard) and you should see the words Use Destination Styles (S) appear. Click on this icon to paste your RACI Chart into this document. 4) Make any additional formatting edits needed to ensure that the entire RACI Chart is visible and that the text is legible. This may require manual adjustment of cell, row or text sizes. Table may span several pages if necessary. Select one (1) of your Key Deliverables and Associated Activities. Provide an explanation of why you assigned the roles that you did for each of the Stakeholders within the three (3) Activities. RACI Chart WBS WORK PACKAGES & ACTIVITIES Stakeholder Stakeholder Stakeholder Stakeholder Stakeholder Stakeholder 0.0 Project Name             1.0               1.1               1.2               1.3               2.0               2.1               2.2               2.3               3.0               3.1               3.2               3.3               4.0               4.1               4.2               4.3               5.0               5.1               5.2               5.3               6.0               6.1               6.2               6.3               Explanation/Justification for selected Key Deliverable and Activities Identify one of your Key Deliverables: ECONTEMPORARY PROJECT MANAGEMENT, 4E Timothy J. Kloppenborg Vittal Anantatmula Kathryn N. Wells © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ‹#› Resourcing Projects Chapter 9 © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ‹#› Chapter 9 Core Objectives: Show resource assignments on a RACI chart, Gantt chart, & resource histogram Develop an effective project schedule, considering resource constraints Describe methods of resolving resource overloads © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 9 Behavioral Objectives: Create a Human Resources Management Plan including role descriptions & staffing management plan Assign roles & responsibilities based on strengths © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 9 Technical Objectives: Compress a project schedule using crashing and fast tracking & describe advantages and disadvantages of each Compare various alternative scheduling methods Using MS Project, assign resources, pinpoint overloads, & describe methods of dealing with them © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 5 From manufacturer to service provider Patti A. Soldavini, director, Corporate Marketing, Schawk, Inc. “We identify and help remove process bottlenecks, offer online collaborative project management tools, and provide knowledgeable human talent to deliver what we call brand point management. Brand point management helps companies create compelling and consistent brand experiences across brand touch points.” © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6 Successful projects balance… Technical Abilities Behavioral Abilities Must complement each other to develop a workable resource-based schedule that people will aCONTEMPORARY PROJECT MANAGEMENT, 4E Timothy J. Kloppenborg Vittal Anantatmula Kathryn N. Wells © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ‹#› Budgeting Projects Chapter 10 © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ‹#› Chapter 10 Core Objectives: Define project cost terms & tell how each is used in estimating project cost. Compare and contrast analogous, parametric, & bottom-up methods of estimating cost. Create a time-phased, bottom-up budget for a project. © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 3 Chapter 10 Technical Objectives: Show both summary & bottom-up project budget information with cumulative costs, using MS Project 2016. © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 10 Behavioral Objectives: Describe issues in project cost estimating and how to deal with each. © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Methods of Estimating Costs Timothy J. Kloppenborg “I worked for the same company in both cities…. Both [methods] made sense where they were used. In Denver, if we wanted to bid every job (and you cannot win the job if you do not bid on it), we needed a fast method. In Kansas City, we had the time to develop detailed cost estimates, and so we took the time. There are many methods of estimating project costs and each has its place.” © 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6 Plan Cost Management Involves developing a cost management plan for a project Cost & schedule are closely related Plan cost management – the process to determine how to plan, estimate, & control project costs. Cost management plan – a living, evolving plan that involves forecasting & refining cost estimates throughout the life of the proje