Project Assignment 4: Budget and Cost Control (individual) 10 points This assignment should be at least 7 pages and at most 10 pages (including the WBS and TPB graphic with explanation and list of references), 1

Project Assignment 4: Budget and Cost Control (individual) 10 points This assignment should be at least 7 pages and at most 10 pages (including the WBS and TPB graphic with explanation and list of references), 1.5 spacing and 12 font. You need a cover sheet or front matter consistent with the template. Draft the project budget and cost control plan. 1. Draft a cost management plan that is 3-5 paragraphs. Include and define performance measures. 2. Update the WBS and create a cost break down structure. 3. Identify labor rates for staff. Explain the assumptions about the rates. 4. Draft estimates of labor, materials, facilities and overhead (in CBS). Explain your estimating methods. 5. Create a time-phased budget in Excel or MS Project. Is the budget reasonable and key items justified? What are the assumptions? 6. Discuss ES, LS, slack and how it impacts the budget and the critical path.