Week 4 – Assignment: Plan to Contain Project Costs to Align with Pricing Estimations and Prepare for Variance
Instructions
The stakeholders have affirmed their acceptance with the scope statement and pricing and cost estimating techniques you as the project manager are going to employ. Your stakeholders express their desire to understand how the project’s overall costs will be monitored, managed, and controlled. With this information in mind, research various cost control monitoring processes implemented for a project of this nature. The assumption is that the same cost control techniques will not work effectively for all projects. As a project manager, you may have to develop unique controls that can be applied to your particular project.
Write a paper and include a supporting MS Excel spreadsheet explaining the cost control processes or procedures to be implemented for the project environment. Include in your cost control explanation the operating cycle, budgets, the earned value measurement system, and your approach to a possible cost overrun dilemma. Provide specific examples where appropriate in order to help your stakeholders understand the variance in project scope planning, as risks can quickly impact the project’s success.
Support your paper with minimum of five (5) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 5-7 pages plus spreadsheet, not including title and reference pages
Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your written response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.
