Chapter 7, Problem 1T

Prepare and print a one-page cost model for the project, similar to the one provided in Figure 7-2. Use the following WBS, and be sure to document assumptions you make in preparing the cost model. Assume a labor rate of $100/hour for the project manager and $60/hour for other project team members. Assume that none of the work is outsourced, labor costs for users are not included, and there are no additional hardware costs. The total estimate should be $200,000. 1. Project management 2. Requirements definition

repare and print a one-page cost model for the project, similar to the model provided in Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $20/hour for yourself (the project manager) and team members (Kim, Ashok, and Alfreda).You will pay Bobby, your IT guy, $30/hour. The project will fund refreshments for the four shark tank like events and prizes for the winners, at a cost of $1,000 for each event. 1.1 Project management 1.2 Hardware (3 laptops and internet access for Kim, Ashok, and Alfreda) 1.3 Software 1.3.1 Outsourced 1.3.1.1 Domain name and site hosting 1.3.1.2 Donation acceptance feature of website 1.3.1.3 Video creation for website 1.3.2 In-house Development 1.3.2.1 Guidelines and templates for events 1.3.2.2 Acceptance of ideas for needed new products or services 1.3.2.3 Custom site for 20 events 1.3.3 Testing 1.4 Business Plan 1.4.1 Internal labor 1.4.2 Legal…

Use either a top-down or a bottom-up approach to determine the overall cost of the project and discuss the approach used.