Development Of Social Media Research Centre Application – Project Schedule And Budget

Assumptions

Figure 1: Project schedule prepared for the project

(Source: Created by Author)

Figure 2: Time phased budget

(Source: Created by Author)

Assumptions and constraints considered for the development of the project budget

Assumptions

The assumptions made for the development of the budget of the project are listed as follows:

• The project development team works for 5 days in a week and for 8 hours per day.
• The raw materials required for the development of the project is available in market and would be available for the tenure of the development of the project.
• The errors and the problems generated during the course of development of the project would be resolved immediately by the project and it would not act as a barrier for the development of the project
• The daily wage of the labors an the development team would not increase during the course of development of the project
• The project would not be affected by the inflation or economic crisis arising during the development of the project.

Constraints

The constraints of the project act as a barrier for the development process are listed as follows:

• The project is required to be developed within the proposed budget of AUD 50,000
• The project is required to be completed within a duration of 7 months from the starting date of the project.
• The resources required is required to be available throughout the duration of the project development
• A 20 percent cost is required to be allocated for fringe for handling the risk arising during the development of the project

Examples of known knowns and known unknowns on the project

The examples of known knowns on the project that have been identified are as below:

• Requirement of additional members in project team thus increasing direct labor costs.
• Extension of the project due to changes in scope resulting into increase in project cost.
• Sudden inflation in the price of hardware and software materials required for development of website.

The examples of known unknowns on the project that have been identified are as below:

• Allocation of additional resources during progress of the project will incur additional budget.
• Request for changes in project scope may increase the budget.
• The resource costs may increase with time during the project.

Preparation of the budget for both known and unknowns

A bottom up cost estimation techniques is followed for the calculation of the cost for the known and the unknowns associated with the development of the project. The bottom up cost estimation technique is the most time consuming process and yet it provides the most accurate result for the calculation of the budget. It is the most appropriate technique for the project that has been done before by the development team and have idea about the development process. For the preparation of the project budget the whole development team is included and the cost for the completion of each of the activity involved in the development of the project is added for the calculation of the total cost.

For the preparation of the project budget a cost of about 10,000 is kept for fringe for handling the risk associated with the development of the project and thus the main project is required to be completed within AUD 40,000.

Team’s philosophy statement or objective

The team members involved in the project development mainly focuses on the requirement of the project and aligns the project with the requirement. The functionality for the website is required to be implemented after analyzing the requirement and the website is developed keeping the quality of the project in mind. Standard sized fonts are used such that the contents of the website is readable and the background colour of the website is kept light for making the front text readable.

Development and description of three quality issues

The quality issues associated with the development of the project are listed as follows:

• To develop the project within a realistic budget – This is one of the significant quality issues related with this venture as the improper estimation of spending plan may prompt low nature of work.
• Improper outline of the site – The site being created is not easy to use as the plan is mind boggling additionally the look and feel is not tasteful as it is not satisfying in setting to perspective of clients.
• Integration with database – The database association flops in the middle of the exchange by customers. The database engineers will outline the database with functionalities to restore it to past state in the event of disappointment or association is lost.

Development of Closure checklist

The checklist of the project closure that is required to be developed for the development of the website are listed as follows:

Development of project evaluation

The evaluation of project’s Measurable Organizational Value will be conducted with the help of following:

Conde, M. A., García-Peñalvo, F. J., Rodríguez-Conde, M. J., Alier, M., Casany, M. J., & Piguillem, J. (2014). An evolving Learning Management System for new educational environments using 2.0 tools. Interactive Learning Environments, 22(2), 188-204.

Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Schwalbe, K. (2015). Information technology project management. Cengage Learning.

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