Course Project: Week 4 Step 3 1. What is your total budget for this project?

Was the project within the budget as set forth by the board of directors? My total budget for this project is $1,428,146.07. The total budget for this project will be met with the original figure of $2,750,000 that was presented in the project scope and charter. Yes, the project within the budget as set forth by the board of directors and the current total budget amount would be under the approved budget. 2. What is your budget for the Planning Phase? What is the Planning Phase duration in weeks? The budget for the Planning Phase is $281,120.07. The Planning Phase duration in weeks is 10 weeks. 3. What is your budget for the Preparation Phase? What is the Preparation Phase duration in weeks? The Budget for the Preparation Phase is $81,690.00. The planning phase is to be completed in 47 weeks consisting of 1,154 hours. The Landscaping will be last of the preparation once the building is up. The Preparation Phase breaks down as followed: Task Name Prepare Site Construct Building Install Landscaping Total Fixed Cost $0.00 $0.00 $26,000.00 Fixed Cost Prorated Prorated Prorated Accrual Total Cost $4,272.00 $51,040.00 $26,378.00 $81,690.00

4. As your project launches, what are some of the key performance indicators that you will monitor and control? Why are these performance indicators critical to manage during the project? Some of the key performance indicators that define how well a project is achieving its objectives that I will monitor and control will be communication, performance of the budget, schedule, and

relationship with team members and risk assessment. However, as the project will continue moving forward I would also continue to be proactive throughout the duration of the project with weekly meeting to update the project status with team members. Bi-weekly meeting are also essential with stakeholders and project teams in the project to update them on the status of the project. MS project is a key tool to utilize to monitor and control the project as well as to present using a visual assistance from graphs and charts. By executing the process through these three elements which are perform the work, monitor and control progress; and control changes. These three elements are very important and must be followed to stay on track and to be successful in completing the project in an effective, efficient and high quality approach. The key to effective project control is measuring actual progress and comparing it to planned progress on a timely and regular basis and taking any needed corrective action immediately. If corrective actions are necessary decisions will be made regarding a tradeoff of scope, time and cost. During each reporting period, data on actual performance and information on changes to the project scope, schedule and budget need to be collected in a timely manner and used to calculate and update schedule and budget.