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Discussion post responses.

Week 4 Discussion: Your Project Budget

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· Last week, you were given control of a project. You have properly defined your project. Now, it is time to estimate your budget. Your Project Sponsor has set a limit on the amount of money you can spend. You know your budget will exceed what that limit is. Using the information covered in the required readings, describe the key components of your budget that you will need, as well as how long it will take to complete it (using the materials we covered this week), and why it exceeds your Sponsor’s limit.

DI’s post states the following:Top of Form

The project being the expansion of the market, it involves finding new market opportunities and the addition of products to the company (Kasemsap, 2018). This will mainly help grow the company’s revenue. It will also give the company a good foundation for growth. There are a lot of things that will be needed to get this project going. It will need a lot of space, time and resources but it will be worth it. The main results will be visible by the end of two years and therefore until then, the company will have to make a lot of investments. The breakdown of resources will be as follows; $50,000 for space and equipment, $5000 for installing charges and shipping and $7000 for networking.

This project will take a minimum of eight to eleven months to be complete (Haynes $ Grensing, 2016). This is because it involves a lot of activities. The budget limit, which is clearly below this, will not work. This is because, when coming up with the budget for the project, the management excluded al unnecessary expenses which means that all that is budgeted for is vital (Storey, 2016). The sponsor did not consider installation fees and risk management fees which makes his budget below ours.

References

Haynes, M., & Grensing, G. (2016). Vadnais Heights Business Retention and Expansion Strategies Program. Retrieved from https://conservancy.umn.edu/bitstream/handle/11299/197822/2016-vadnais-heights.pdf?sequence=1

Kasemsap, K. (2018). The roles of information technology and knowledge management in project management metrics. In Global Business Expansion: Concepts, Methodologies, Tools, and Applications (pp. 1191-1221). IGI Global. Retrieved from https://www.igi-global.com/chapter/the-roles-of-information-technology-and-knowledge-management-in-project-management-metrics/202266

Storey, D. J. (2016). Understanding the small business sector. Routledge. Retrieved from https://content.taylorfrancis.com/books/download?dac=C2016-0-95236-1&isbn=9781134838554&format=googlePreviewPdf

DJ’s post response with questionsTop of Form

Question 1:

With that being said, how would you as the Project manager make the sponsor aware of the miss calculations of the installation fees and risk management fees?

Question 2:

Or would you try to recalculate costs to fit your budget?

MA’s post states the following:Top of Form

· Last week, you were given control of a project. You have properly defined your project. Now, it is time to estimate your budget. Your Project Sponsor has set a limit on the amount of money you can spend. You know your budget will exceed what that limit is. Using the information covered in the required readings, describe the key components of your budget that you will need, as well as how long it will take to complete it (using the materials we covered this week), and why it exceeds your Sponsor’s limit.

My project is to provision a backup WAN Circuit using the existing Internet connection. I have been tasked with carrying out this implementation staying within the budget of $1,500,000. However, after careful analysis coupled with current market condition as analyzed in my deliverable, i will be exceeding the set budget so that i can successfully complete the project.

From my first deliverable, I quoted the following: Cisco UCS ServerCisco SD-WAN RouterPalo Alto Firewall. The Cisco UCS Server will host three virtual Machines, these virtual machines are named: vManage, vBond and vSmart. Each of this virtual Machine will be license at the cost of $50,000 totaling $150,000. Also, the virtual machine host which is known as VMware (ESXi) will also require a license, this as well will cost $50,000. From the time of order to delivery and deployment of this license, it will take a total of 1 months. The second deliverable item i quoted in my initial post is the Cisco SD-WAN Router. We have decided to use an on-premise router and this will be the Cisco ASR 1000 series router. This router will require a license that supports all the functionalities and services we will need to successfully complete this deployment. We only require one license and it costs $50,000. We expect this to be done in 2 weeks. My third deliverable is the Palo Alto Firewall which will be used to protect our Internet Edge. I decided to use multiple vendors in this deployment so that we can have various options and also because of the unpredictable nature of the internet. Our Palo Alto Firewall will also require a Firewall which will support the various services we will be bringing up, this license will cost us $50,000. This will be completed in 2 weeks.

I will be allocating some miscellaneous funds for unforeseen expenses. These unforeseen expenses may arise in the form of bad power supply or return of a defective material among several other reasons, for this we will be allocating an extra $50000.

A total of 8 weeks (2 months) will be needed to complete this entire task. This 2 months will fall in between the 6 months i allocated in my Milestone. An additional $350,000 will now be needed to completely execute this project, which leaves the entire cost at $1,850,000.

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