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you are required to write a report containing a cost-management plan for a project ….

Assessment Task 2 In this assessment, you are required to write a report containing a cost-management plan for a project based on the scenario. You will require to spend 6-8 hours to complete this project. You must demonstrate that you can, on multiple and complex projects, successfully (1) Work closely with others to determine resources against budgetary frameworks; (ii) Prepare a budget and cost-management plan for a project; (iii) Monitor costs across a project’s life cycle including solving cost variations and analysing possible alternatives; (iv) Record expenditure, create accurate financial reports and review cost-management processes. Project:Johny English, the founder and chief executive of Best Construction WA Limited, Perth, received a phone call one afternoon from a local resident, Ms Kate Sumner, requesting a quote to design and build a large storage shed on her property. Ms Kate told him that she required a large shed, big enough to store her garden tools and utility vehicle andspaces for a workbench and fertilisers. She also specified that the shed must have power, water and a toilet. Ms Kate wanted work to commence in 8 weeks and would like the j ob completed no more than 4 weeks after that so she would have a place to store her vehicles before the winter rains came. Ms Kate asked Johny English to come up with a design and quote to build her shed in one week’s time. She told Johny that she was obtaining three quotes from three different builders and that she would select her preferred builder based on four criteria. These werequality, the ability •to start and finish on time, and cost. Ms Kate said she would like to spend no more than A$80,000 on the shed. Johny knew he would have to come up with a winning design, so he would need tout his designer, Madeleine, on the job of coming up with some innovative designs. Johny would also have to source higher-quality building materials to give him the edge in meeting Ms Kate’s stringent evaluation criteria over his competitors. John) also knew that he would need to plan the human resources necessary to complete the job in the time frame required. He knew it would not be too much of a problem getting some of his construction workers to start i 8 weeks’ time but he was not sure about the availability of his subcontractors—Ben the electrician, Greg tt-plumber, Douglas the glazier and Steve his fencing contractor—because they were all very busy.After signing the contract Johny would need to submit a development application and construction certifici to the local council and await their approval. Ms Kate’s final selections for colour and style of shed mater would need to be finalised.Once all that had been accomplished Johny and his team of four would have to prepare the site construction. This would involveperforming underground cable service checks and, perhaps, contractii surveyor to locate existing boundaries as the shed was going to be built close to the boundary with ano resident’s property. The site would need to be cleared, temporary site facilities (such as a toilet, site fen( power and water) would have to be established, the site set out and the formwork built. Following this, site would be excavated. While the excavation was taking place Johny would need to remember to bo council inspection for the formwork prior to concreting, as well as booking the concrete truck, a date forshed to be delivered a date for the shed installation team tout the shed into place, and dates for his subcontractors to come and install power and water. After pouring the concrete and finish his team would need to strip the formwork. At this time Johny could invoice Ms Kate for a progress payment, as this represented a milestone in the project. Following this the shed could be delivered and installed, Ben the electrician could be called in to connect the mains power, Greg the plumber could connect the water and install the toilet and Douglas the glazier could install the windows. While they were busy doing that Johny and his team could start clearing the site, removing any rubbish and the temporary site amenities. Once all these tasks were accomplished the job would be at practical completion. Johny would then meet with Ms Kate, present her with a final bill and hand over the keys to the shed.In small groups of 2-3 people, you must complete the following tasks: 1. Working within your set budget, discuss and identify the resources you will require for the project with your group members. Design and complete a resource requirement sheet for each of the following major resources relevant to your project: a) Equipment b) Facilities c) Fees and charges d) Human resources e) Materials f) Services g) Statutory costs.2. Develop a WBS for this project. Now, prepare a project budget using either the top-down approach or the bottom-up approach. You must answer the following question: a) What approach did you use? b) How did you identify the project costs? c) What are the direct and indirect costs? d) Are there any possible risks that may occur throughout the project? e) What is your budget tolerance?3. Prepare a cost management plan for your project. You must answer and complete the following questions: a) What tasks produce costs? b) What materials are required? c) Create a timeline for the completion of the project d) Identify one cost control tool you may use to manage the project costs e) Identify who will manage the project costs and identify three organisational polices and o procedures applicable to your role in a project f) Provide details of any mathematical formulae you have used to measure the costs of the prose g) Provide details of any contingencies 11) Have you identified any key performance indicators you will use? How will these KP1’s measured?

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