Cost And Quality Management Plans

Cost Management Planning for ‘The Bungalow Project’

The cost management planning is developed for the implication of the innovative work alignment and managing the cost resources for the project. The resource management would be helpful for taking care of the effective and innovative cost budget management and simplifying the integration of the works for defining the listing resource usage. The following assignment has been developed for the formation of the innovative work alignment for the project of ‘The Bungalow Project’. The implication of the effective work alignment would be formed for forming the implication of the system work alignment. The material and human resources would be managed for ensuring the successful management of the applied work development.

The cost management planning for the Bungalow Project would be developed with the alignment of the budget resource estimation. The cost management planning for the project can be done by including the following steps,

Identification of the work requirements: The first step of the cost management plan is the identification of the work requirements. The utilization of the work requirements would be supported by the implication of the innovative and effective work implication. The work requirements would be formed with the consideration of the construction of the Bungalow Projects. The work requirements for the project would be integrated with the formation of the project plan for the project. The construction of the project would be supported by the implication of the construction project management and the utilization of the tools and techniques for the alignment of the Bungalow constructions.

Identification of the resources required: The project of Bungalow Construction is a construction project defined for the alignment of the effective implication of the project resource management. The resource management would be implied with the formation of the work alignment and development of the successive work formation. The resources required for the project would be divided into human and material resources. The human resources required for the project include Resource A Laborers and Resource B Tradesmen. The material resources required for the project include material and plant for different ranges. The implication would be successful with the formation of the effective work integration.

Acquisition of the resources: The resources would be acquired for the alignment of the effective work completion. The resources for the project would be integrated with the utilization of the effective and smart alignment of the budget for the alignment of the resources in the project. The resource acquisition would be done by forming the significant management of the facilities for developing successful alignment management. The resources required for the project would be acquired by developing contracts and tenders and aligning the listing of the successful work completion. The resources would be aligned for integrating the formation of the effective alignment of the budget.

Estimation of Costs: The estimation of the costs has been implied with the formation of the facilities and development of the operations. The estimation of the costs has been done considering the expenses of the project and the alignment of the successive alignment of the works. The cost estimation would be based on the utilization of the effective contract management for the allocation of the works and forming the successful work and process analyzing. The cost estimation would be implied for successful formation of the works. The cost estimation would be done with the usage of the estimation of the costs and the formation of calculation of the resource usage. The multiplication of the standard rates of the resources with the usage hours/units would be helpful for calculating the overall cost of the project. The addition of the individual expenses would be helpful for total budget for the project.

Bottom-Up Estimation

Implementation of cost management: The cost management implementation would be helpful for aligning the calculation of the budget estimated. The cost management techniques would be helpful for keeping the project cost in check and ensuring that the work is aligned carefully. The cost management processes would include the formation of the facilities for aligning the works and integrating the works.

CPM budget estimation is being done in three methods namely optimistic, most likely, and pessimistic. Each of the calculation for the budget is given below,

Most Likely

As seen in the tables, the calculation of the optimistic, most likely, and pessimistic budget calculation is based on the usage of the resources. The most likely usage of the resources were 1720hrs, 3480hrs, 1000 units, 4000 units, 3400 units, 900 units, 1400 units, and 600 units for Resource A Labourers, Resource B Tradesmen, Material and Plant @1, Material and Plant @2, Material and Plant @3, Material and Plant @4, Material and Plant @5, and Material and Plant @6 respectively and it has resulted in budget of $259,000. The change in the usage of the resources is the main reason for the difference in budget. The optimized usage of the resources 1400hrs, 2888hrs, 1000 units, 4000 units, 3400 units, 900 units, 1400 units, and 600 units for Resource A Labourers, Resource B Tradesmen, Material and Plant @1, Material and Plant @2, Material and Plant @3, Material and Plant @4, Material and Plant @5, and Material and Plant @6 respectively and it has resulted in budget of $219,000. The pessimistic budget has been resulted due to the exhaustion of the resources more than expected as 2360hrs, 4664hrs, 1000 units, 4000 units, 3400 units, 900 units, 1400 units, and 600 units for Resource A Labourers, Resource B Tradesmen, Material and Plant @1, Material and Plant @2, Material and Plant @3, Material and Plant @4, Material and Plant @5, and Material and Plant @6 respectively and it has resulted in budget of $337,400.

Conclusion

The bottom up estimation is the most suitable for the estimation of the budget using resource usage estimation. The cost estimation would be based on the utilization of the effective contract management for the allocation of the works and forming the successful work and process analyzing. The cost estimation would be implied for successful formation of the works. The cost estimation would be done with the usage of the estimation of the costs and the formation of calculation of the resource usage. The multiplication of the standard rates of the resources with the usage hours/units would be helpful for calculating the overall cost of the project. The addition of the individual expenses would be helpful for total budget for the project.

The over budget of the project can be dealt by the usage of the resource usage plan and checklist for cost expenses.

The quality management planning is developed for the implication of the innovative work alignment and managing the quality resources for the project. The resource management would be helpful for taking care of the effective and innovative quality budget management and simplifying the integration of the works for defining the listing resource usage. The following assignment has been developed for the formation of the innovative work alignment for the project of ‘The Bungalow Project’.

CPM Budget Estimation Method

The quality management planning for the Bungalow Project would be developed with the alignment of the budget quality tools estimation. The quality management planning for the project can be done by including the following steps,

Identification of the quality requirements: The first step of the quality management plan is the identification of the quality requirements. The utilization of the quality requirements would be supported by the implication of the innovative and effective quality implication. The quality requirements would be formed with the consideration of the construction of the Bungalow Projects. The quality requirements for the project would be integrated with the formation of the project plan for the project. The construction of the project would be supported by the implication of the construction project management and the utilization of the tools and techniques for the alignment of the Bungalow constructions.

Identification of the quality tools required: The project of Bungalow Construction is a construction project defined for the alignment of the effective implication of the project quality tools management. The quality tools management would be implied with the formation of the work alignment and development of the successive work formation. The quality tools required for the project would be divided into human and material quality tools. The human quality tools required for the project include Quality tools like 7QC and Six Sigma. The material quality tools required for the project include material and plant for different ranges. The implication would be successful with the formation of the effective work integration.

Acquisition of the quality tools: The quality tools would be acquired for the alignment of the effective work completion. The quality tools for the project would be integrated with the utilization of the effective and smart alignment of the budget for the alignment of the quality tools in the project. The quality tools acquisition would be done by forming the significant management of the facilities for developing successful alignment management. The quality tools required for the project would be acquired by developing contracts and tenders and aligning the listing of the successful work completion. The quality tools would be aligned for integrating the formation of the effective alignment of the budget.

Estimation of Quality: The estimation of the quality has been implied with the formation of the facilities and development of the operations. The estimation of the quality has been done considering the expenses of the project and the alignment of the successive alignment of the works. The quality estimation would be based on the utilization of the effective contract management for the allocation of the works and forming the successful work and process analyzing. The quality estimation would be implied for successful formation of the works. The quality estimation would be done with the usage of the estimation of the quality and the formation of calculation of the quality tools usage. The multiplication of the standard rates of the quality tools with the usage hours/units would be helpful for calculating the overall quality of the project. The addition of the individual expenses would be helpful for total budget for the project.

Implementation of quality management: The quality management implementation would be helpful for aligning the calculation of the budget estimated. The quality management techniques would be helpful for keeping the project quality in check and ensuring that the work is aligned carefully. The quality management processes would include the formation of the facilities for aligning the works and integrating the works.

The 7 QC tools like Cause and effect diagram, check sheet, control chart, histogram, Pareto chart, scatter diagram, and stratification. These tools allow the calculation of the quality factors and implication of the quality control for the project. The implication of the 7QC tools would help in controlling the quality of the project. The estimation of the quality has been done considering the expenses of the project and the alignment of the successive alignment of the works. The quality estimation would be based on the utilization of the effective contract management for the allocation of the works and forming the successful work and process analyzing. The quality estimation would be implied for successful formation of the works. The quality estimation would be done with the usage of the estimation of the quality and the formation of calculation of the 7QC quality tools usage.

Six Sigma involves the usage of the tools and processes for the improvement of the quality of the project work using set of techniques and cyclic process (define, measure, analyze, improve, and control). The quality tools management would be implied with the formation of the work alignment and development of the successive work formation. The quality tools required for the project would be divided into human and material quality tools.

Conclusion

The possible risk factors for the quality like equipment failure, issue in materials, contractual issues, and payment issue would be resulted due to the lack of quality control. The quality control measure using 7QC (Cause and effect diagram, check sheet, control chart, histogram, Pareto chart, scatter diagram, and stratification) and Six Sigma (define, measure, analyze, improve, and control) would be helpful for dealing with the issues of the Bungalow Project.

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