Final Cost Management
1. Please revise the project manager’s responsibility into “The Project Manager has responsibility for reviewing and approving estimates.”2. Create a cost baseline statement and insert into document. A cost baseline statement is simply a brief statement that summarizes the budget and states the specific amount of money and contingency that forms the cost baseline.3. Perform a reserve analysis, using PERT or Expected Monetary Value to determine how much to request for a reserve fund (show work in appendix of document). Please note that if you have already completed a PERT analysis in this course, you only need to update it based on any feedback.4. Create a statement of how much reserve you will be requesting, summarize how you determined the amount you requested, and provide a brief explanation for how these funds will be used and who can authorize the use of them.5. Using the estimates from your MsProject file and your reserves analysis, create an updated funding request for your project. This should be a statement that identifies the total amount needed, but differentiates between the costs associated with the project and the reserves request6. Based on your project schedule in the MsProject file, create a funding schedule (time-scaled budget). You can do this by date or milestone. You could choose to use the following simple table headers:column 1 – date or milestone column 2 – WBS codecolumn 3 – deliverable or budget entry column 4 – amountcolumn 5 — aggregate amount7. Be sure to update any previous sections of your document based on the information you developed this week. For instance, your summary budget will most likely need to be updated to account for the PM processes, if you did not account for that previously.PS:Please revise and add some contents according to the instructions. I’ve attached the draft CMP and Ms project files, please be sure to use them. Document should professionally formatted using titles, headers, and bullets where appropriate. Consider using a MsWord document template to format the report. A template may be used for the formatting, but all content must be original to you. You must include a title page and cite any outside sources using a works cited page according to APA 6th edition guidelines Submission is free of grammatical errors and misspellings
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