Manage Project Cost – BSBPMG533 – Management Assignment Help

Assignment Task

Task 1 – Determine project cost

Task summary and instructions
What is this assessment task about? Refer to and read the documents saved in a separate folder:
MMI company profile and project task
Policies and Procedures
You have been recently engaged by XYZ Pty Ltd trading as MMI as a Project Manager (PM) to develop and implement a project to open a new campus in Sydney (refer to MMI strategic objectives).
The Board of Directors (BoD) has allocated 3 million dollars to the project.
Project duration: 1 year.
You can employ four new staff members to be part of the project team for its duration. Source the rest of the project team from existing MMI personnel (flexible work arrangements will be needed)
The project includes:
Finding premises in Sydney CBD (800-1000 square metres, onsite parking for staff, natural light)
Ideally, there will be enough room for 5-7 classes, one meeting room, one computer lab, 1 x student kitchen, student lounge, 1 x staff kitchen, three offices for staff, toilet facilities
Rent the premise
Obtain necessary permits
Source architect and building company
Source and buy furniture and equipment
Liaise with the architect and building company
The project steering committee is composed of:
Mr Eli Brown – Non-executive Director
Mr Leonard Black – CFO
Academic Manager (Jacob Graham)
The project sponsor is Taylor Varin (Client Service Manager), played by the trainer and assessor.
You will have to:
Determine the project requirements
Work in collaboration with pertinent stakeholders
Scope the project
Cost and resource the project
Develop the project plan
Execute the project
Finalise the project
Student Name Student Name Student Name Student Name You will collaborate with the project team in a simulated work environment to carry out the responsibility of your role as a PM relevant to cost management.
Although you will lead and collaborate with the project team, your assessment’s work must be individual, and it will be marked as such.
Please note that the performance evidence for this unit of competency requires you to demonstrate the ability to manage project cost on at least two occasions. This assessment has been designed to meet that requirement.
Each unit covered in your Diploma of Project Management will address a part of the project:
Scope
Time
Quality
Cost
Human Resources
Information system and communication
Risk
Project Integration
Communicate with influence
Facilitate continuous improvement in project work
Develop project workplace policy and procedures for sustainability
Lead and manage project team effectiveness
BSBPMG533 addresses project cost.
Having a clear vision of the project and its structure will help you plan and implement it in simulated work conditions.
Your trainer and assessor will provide support and mentorship in the role of Project Sponsor (PS).
You will work in a project team of max four students. You will both lead the team and be a part of it to experience different project roles
in the simulated work environment, project manager being the main one.
Take turns playing the role of PM when the task requires project team collaboration. The trainer and assessor will observe project work and provide feedback on the Marking Sheet.
Form or join a project team (3-4 students in the team).
Document the name of the students in the table below:
This task comprises of the following assessment methods:
Product-based ?Direct observation of Role-Play ?Case Study ?Other (specify) ?It has been designed to evaluate your ability to/competency in:
Identify resource requirements for individual tasks identified in the work breakdown structure in consultation with relevant stakeholders
Estimate project costs for project budget to be prepared within agreed tolerances
Develop a project budget
Develop a cost-management plan for project finances according to scope of responsibility
Your assessor will be looking for demonstrated evidence of your competency in the above.
You are required to address the following:

Task 1.1 Determine project cost
Determine project resource requirements
Develop a project cost management plan

Task 1.2 Case Study
Determine project resource requirements for the Case Study
Develop a project cost management plan for the Case Study
Although the assessment requires group collaboration to simulate a work environment, the assessment submission is individual, and it will be marked as such.
What do I need to do to complete this task satisfactorily? submit the completed assessment tasks, according to instructions,
complete the tasks with sufficient detail and present them in a professional manner,
use your own words and reference sources appropriately,
meet the word count where required,
use the scenario provided,
use the templates provided where required,
for your performance to be deemed satisfactory in this assessment task you must satisfactorily address all of the assessment criteria,
if part of this task is not satisfactorily completed you will be asked to complete further assessment to demonstrate satisfactory performance.
Specifications You must deliver/participate in:
Briefing session with the Project Sponsor in week 2
Collaborate with the project team and consult with the Project Sponsor in simulated work conditions as instructed
You must submit to GOALS
Summary of notes from the briefing session
Project cost management plan
Project cost management plan – Case Study
Resources and equipment Computer with Internet access
Access to Microsoft Office suites or similar software
Learning material
Scenario for assessment as provided
Appendices as provided
Relevant policies and procedures as provided