Project Budgeting, scheduling and resources

Solution Preview

Identify all of the costs involved in the project. Label the costs either direct costs, project overhead costs, or general and administrative overhead costs.
Develop a time-phased budget for the project. What will be the cumulative cost of the project?
Identify areas in the budget where cost cutting can be made if needed?
Identify and assess one major and one minor risk inherent to the project. Develop a contingency plan for each of these risks.

Given a tremendous lack of detail (what kind of IT system is required, how many trainees, what is the sales of the company and budget available, how big is the training team, etc.), I will need to make many assumptions. So, the answer may be more general than you need, but the ideas and reasoning is sound and so you can add more detail as you know about.

· Design the training program. (Duration - 7 days).
HR training team (4 employees) and technical system vendor representatives (2 people).
Average daily salary for training team: $250 per individual X 7 days (including all benefits, etc.) X 4 staff members = $1,000
Total salary cost for the team: 7 days X $1,000 = $7,000. Direct Costs
Cost for the outside vendor team: $1,000 flat fee, Direct Costs.
Conference room used by training program design team: $20 a day (200 square meters conference room divided by 2000 square meters of total office space = .10 X $6000 monthly rent, utilities, etc. divided by 30 days = $600 / 30 = $20 cost a day) X 7 days = $140 Direct ...