Initial Cost Statement & Cost Estimate

Initial Cost Statement & Cost Estimate

1.At this point, you have limited information about your project, as we have not completed a number of items, such as a resource loaded schedule, a risk management plan, or a procurement plan. However, your project sponsor is requesting an initial cost estimate for the project.
2.You have been given a budget in your case study, and you need to determine if that is a realistic budget.
3.You need to prepare a high level cost estimate considering the major deliverables and activities contained within your WBS.
4.Based on this weeks lectures and reading materials, your team needs to decide a way of developing this cost estimate.
5.Create a brief cost statement that describes the approach used by the team and any assumption relied upon when creating high level cost estimates for your project
6.Create a high level cost estimate organized either by major deliverables or major phases of your your WBS.
7.Make sure you consider all the major areas of this project into account: logistics (travel, lodging, food), consulting fees, support team costs, etc.
8.You do not need to provide a detailed cost estimate for each of these activities, I am simply asking you to make sure you think through all the areas of the project in developing this schedule
9.As part of this portion, be sure to include a statement as to whether or not you initially believe that the budget provided will be sufficient.

I will attach the case study and the WBS.