Use either a top-down or a bottom-up approach to determine the overall cost of the project and discuss the approach used.
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- Prepare and print a one-page cost model for the project, similar to the one provided in Figure 7-2. Use the following WBS, and be sure to document assumptions you make in preparing the cost model. Assume a labor rate of $100/hour for the project manager and $60/hour for other project team members. Assume that none of the work is outsourced, labor costs for users are not included, and there are no additional hardware costs. The total estimate should be $200,000. 1. Project management 2. Requirements definitionWrite "Cost Management" about age detection. -Calculate net present value, Return on Investment for 3 years. Also calculate payback time for your project-Estimate the cost of your project ( which method would you use, top-down, bottom-up, parametric etc.) create project cost estimate table. -Provide cost estimate by using function point estimate.Explain in detail about various methods for assessing Project Feasibility Please give me unique answers in DETAILS
- Explain the many points to think about when picking out finance methods for a project.repare and print a one-page cost model for the project, similar to the model provided in Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $20/hour for yourself (the project manager) and team members (Kim, Ashok, and Alfreda).You will pay Bobby, your IT guy, $30/hour. The project will fund refreshments for the four shark tank like events and prizes for the winners, at a cost of $1,000 for each event. 1.1 Project management 1.2 Hardware (3 laptops and internet access for Kim, Ashok, and Alfreda) 1.3 Software 1.3.1 Outsourced 1.3.1.1 Domain name and site hosting 1.3.1.2 Donation acceptance feature of website 1.3.1.3 Video creation for website 1.3.2 In-house Development 1.3.2.1 Guidelines and templates for events 1.3.2.2 Acceptance of ideas for needed new products or services 1.3.2.3 Custom site for 20 events 1.3.3 Testing 1.4 Business Plan 1.4.1 Internal labor 1.4.2 Legal…Use one requirement gathering technique to help clarify your proposed PM project (described in your answer for question 1). Then explain how you have used the technique and the results you have found. Answer: Chosen Requirement Gathering Technique: Chosen Requirement Gathering Technique Scope: Procedure followed: Results: Project scope statement:
- Assignment Choose one of the following system (ATM, pharmacy, food ordering system, or library) Each student should perform the following tasks in his/her project: 1- Identify the problem, objectives, and methodology to be used 2- Determine the functional and non- functional requirements. Also, determine the type of collecting the requirements 3- Select suitable Model 4- Draw use case and Sequence DiagramUse Critical Path Method to estimate in how many weeks the project below will be submitted and find the critical path. (Choose 2 answers weeks and critical path) Activity A: Prepare initial design B: Identify new potential clients C: Develop prospectus for tenants A D: Prepare final design E: Obtain planning permission F: Obtain finance from bank G: Select contractor H: Construction I: Finalize tenant contracts dependent time 8 D 3 D 4 6, F В, С, Е I, H 17 13 J: Tenants move in Critical path : A-D-E-F-H-J O Critical path: A-C-E-F H-J 35 weeks 29 Weeks Critical path : A-G-E-F-H-J 34 Weeks