Assignment You are now ready to apply costing methods tools

Assignment You are now ready to apply costing methods, tools, and techniques to your project. There are many of these available to assist you in determining your overall budget, as well as to estimate the durations for individual tasks. These methods could include the following: Expert judgment Analogous estimating Parametric estimating Bottom-up estimating Three-point estimating Reserve analysis Cost of quality Project management estimating software Vendor bid analysis You will be responsible for using your plan that you developed in Weeks 2 and 3 to estimate your budget for your key assignment project. You should apply 2 of the above methods to determine a worst-case scenario budget. Please put your calculations in a spreadsheet similar to the following: The following are the overall project deliverables: Update the Key Assignment document title page with a new date and project name. Update the previously completed sections based on the instructor’s feedback. Create the following new section: Costing Methods and Tools Select 2 of the costing methods, and discuss why they will support developing a realistic budget. Provide an example of computations for a few of the activities for the 2 selected methods. Fill in a table similar to the example table so that your 2 different total project budgets are based on the 2 selected methods. Discuss what type of contingency budget you will put in place based on the 2 budgets to mitigate an underestimation. The following are the overall project deliverables: Update the previously completed sections based on the instructor’s feedback. Complete the following new sections: Earned Value Management System Discuss how an earned value analysis will be utilized for this project or Key Assignment, including the formulas to compute earned value analysis (EVA). Cover the following 4 scenarios and what you should do: Behind schedule and over budget: Include a sample calculation that would trigger this interpretation, along with a graph. Ahead of schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph. Behind schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph. Ahead of schedule and under budget: Include a sample calculation that would trigger this interpretation, along with a sample graph. Discuss for each of the above situations how you compute the final cost and end date if nothing changes with its present state.Overall Cost and Schedule Performance Discuss how you will monitor progress. Discuss what metrics, reports, and graphs you will use to monitor progress. Discuss how they would determine the cause of the variation. Discuss how you will respond to deviations; (specifically around schedule compression and a contingency budgetPLease add new stuff to Word doc..Also read instructions on the word doc as well

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