Recreation and wellness intranet project cost estimate

Risk Register

Tony and his project team identified some risks during the first month of the Recreation and Wellness Intranet Project. However, all they did was document the risks in a list. They never ranked the risks or developed any response strategies. Because the project has had several problems, such as key team members leaving the company, users being uncooperative, and team members not providing good status information, Tony decided to be more proactive in managing risks and want to address positive risks as well as negative risks.

Complete the following tasks:

Create a risk register for the project. Identify 6 potential risks, including risks related to the problems described in the previous paragraph. Include negative and positive risks.
Develop a 45- to 90-word response strategy for each risk. Enter the information in the risk register.
Write a separate 175-word paragraph describing what specific tasks would be required to implement the strategy. Include time and cost estimates for each strategy.
USE APA format with at least two references

Cost Estimate
Cost Model
Cost Estimate
Project Name: Recreation & Wellness Intranet Project Date: 1- JAN - 21
Internal $/hour Internal External $/hour External Total Non-labor $ Total Cost
WBS Categories Labor $ Total Labor $ Total Labor
1. Project Management
1.1 Project manager 200 $100 $20,000 $ - $20,000 $20,000
1.2 Project team members 600 $60 $36,000 $ - $36,000 $36,000
2. Website design
2.1 Registration for recreation 50 $100 $5,000 $5,000 $5,000
2.2 Registration for classes 50 $100 $5,000 $5,000 $5,000
2.3 Tracking System 75 $100 $7,500 $7,500 $7,500
2.4 Incentive system 75 $100 $7,500 $7,500 $7,500
3. Website development
3.1 Registration for recreational programs 50 $50 $2,500 $ - $2,500 $2,500
3.2 Registration for Classes and programs 50 $50 $2,500 $ - $2,500 $2,500
3.3 Tracking system 200 $75 $15,000 $ - $15,000 $15,000
3.4 Incentive system 200 $75 $15,000 $15,000 $15,000
4. Testing 300 $100 $30,000 $ - $30,000 $30,000
5. Training and support $ - $ - $ -
5.1 Trainee cost 100 $60 $6,000 $ - $6,000 $6,000
5.2 Travel cost 60 $100 $6,000 $ - $6,000 $6,000
5.3 Project team members 100 $100 $10,000 $10,000 $10,000
Reserves $33,600 $ - $33,600 33,600.00
Total 2,110 201,600 - - - 201,600 - $201,600
Cost Baseline
Cost Model
Cost Baseline
Project Name: Recreation & Wellness Intranet Project Date: 1- JAN - 21
Month
1 2 3 4 5 6 Total Cost
WBS Categories
1. Project Management
1.1 Project manager 2,000 3,600 3,600 3,600 3,600 3,600 $20,000
1.2 Project team members 6,000 6,000 6,000 6,000 6,000 6,000 $36,000
2. Website design
2.1 Registration for recreation 2,500 2,500 $5,000
2.2 Registration for classes 2,500 2,500 $5,000
2.3 Tracking system 1,000 1,000 2,500 2,500 500 $7,500
2.4 Incentive system 1,000 1,000 2,500 2,500 500 $7,500
3.0 Website development
3.1 Registration for recreational program 1,000 1,500 $2,500
3.2 registration for classes and programs 1,500 1,000 $2,500
3.3 Tracking system 2,500 2,500 2,500 2,500 2,500 2,500 $15,000
3.4 Incentive system 2,500 2,500 2,500 2,500 2,500 2,500 $15,000
4.0 Testing 5,000 5,000 5,000 5,000 5,000 5,000 $30,000
5.0 Training and Support
5.1 Trainee cost 1,000 1,000 1,000 1,000 1,000 1,000 $6,000
5.2 Travel cost 1,000 1,000 1,000 1,000 1,000 1,000 $6,000
5.3 Project team members 1,000 2,000 200 2,000 200 2,000 $10,000
Reserves* 4,200 5,120 5,760 6,920 5,960 5,120 $33,080
Total 25,200 30,720 34,560 41,520 35,760 30,720 201,080
A. B. C.
a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
Cost variance = EV – PV = 10000
Schedule variance = EV/AC = ($20,000)
Cost Performance Index = EV/AC = 1.11
Schedule Performance Index = EV/PV = 0.83
b. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
EAC = BAC/CPI = $180,000
c. Use the SPI to estimate how long it will take to finish this project.
Project Completion Time = 6/SPI = 7.2