In assignment 1, the actual course is viewed as a project, which means that you will have the opportunity to get acquainted with what it means to plan, execute, and track a project
Write a Project Plan.
The Project plan will describe what the outcome of the project (i.e. the course) will be and describe how you will achieve this.
General limits for the project
The course in Project management is worth 7.5 credits, which corresponds to five weeks of full-time study at 40 hours/week. This makes for a total of 200 h/student, or 400 h for the entire project team.
The recommended salary in 2016 for recently graduated engineers by the Association of Graduate Engineers is 30,800 $/month. This corresponds to an approximate hourly pay rate of 193 $/hour assuming 8 hour workdays and 4-week months. Assume instead that you have a company together and will now run this course as a project. How much would you need to invoice the customer (i.e., the course staff in this case) in order to be able to earn the same as a recently graduated engineer?
According to the Tax Agency, individual social security charges are approximately 30%. Further assume having only 75% capacity utilization on average and that you also wish to add another 20 $/hour for expenses such as purchase of computers and for residual costs such as office materials and telephone.
You must now make (193 / (0.75 * (1 – 0.3))) + 20 = 386 $/hour to cover costs and reach break-even. Thus, it seems reasonable to charge the customer 400$/h for internal work (such as attending lectures) and 500$/h for consulting work (such as writing a report, conducting an interview, and others). Now, due to the fierce competition with other consultancies, you have sold the project at a price of 142,000 $and your task is – of course – to try and stay within this budget to the best of your ability.
- Project plan
To be able to write a Project plan, there are some things you should do:
- Get an idea of what will be required from you in the project by reading the instructions for all of the assignments
- Read the Handbook for small projects.
- Create a Work Breakdown Structure (WBS) for the project. Attach the WBS as an appendix
- Use the cost assumptions and work resources specified in the previous section (General limits for the project).
- Specify who the project customers are
- Plan the project through filling out the milestone chart and allocation and resource plan documents attached. These shall be included as appendices to the Project plan
- Write and submit a Project plan where all the sections are handled according to the Handbook for small projects
√ Remember that the goals of the Project plan should be clear and measurable, so that the readers of the Project plan can get an accurate picture of the project even if not familiar with the original plans and assumptions.
√ All the activities that are required to pass the course have to be in the project model (i.e. you are not allowed to plan for failing the course).
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