The last core element in the planning of a project (after confirming goals, selecting team members, and outlining the work) is to determine the budget. Costs may come from labor, material, equipment, facilities, subcontractors, and/or travel. Many projects also have a reserve or contingency amount entered for costs that are overlooked or where there is a high risk that the cost may be incurred.
Most budgets are developed in two formats: (1) a total budget cost (TBC) and (2) a time-based budget where the earned value (EV) of the costs is estimated per week or month. The earned value needs to be managed (EVM- Earned Value Management). The time-based budget is important so that you know when funds need to be available for that part of the project and also to track funds as they are spent.
Unit Learning Outcome(s) Reflected in assignment:
Estimate and aggregate costs into a project budget. (CLO 3)
Determine the earned value (EV) of work performed. (CLO 3)
For the project plan you are developing, do an internet search for ‘project budget sample’ and/or ‘project budget template.’
Develop a budget for your project that indicates the total costs of each element in your project (tip: the Work Breakdown Structure can help you see where costs may occur).
Pick a 4 week span in your project and make an EVM table where you show the money that will be needed in each of those 4 weeks based on the amount of each budget item. For instance, if you are building a house over 16 weeks, each week would have a certain cost in materials and labor.
For your project, make a table for 4 weeks of expenses that shows how much cash from the total budget you will need in those weeks.
Note1: Half of the assignment is the total project budget and half of the assignment is the week by week allotment of the budget over at least 4 weeks of the project time frame. The EVM SamplePreview the document may help you lay out the specific costs for a set period within your project.
Note2: if your project is using volunteers, please generate a value for the volunteer labor. This becomes a useful tool when reporting the plan’s success later, as you can say “Our volunteers provided $xxxx equivalence in free labor for this project.”
Why Choose HelpHub
Quality Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.
On Time Delivery
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
HelpHub Writing Services
No need to work on essay at night. Sleep tight, we will cover your back. We offer all kinds of essay writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.