Your project is to do a consumer market study for a product that has been introduced to the market recently. This is the first time that company is doing such study and allocated $45,000 for this project, and expect it to be done in about three months (12 weeks)
· Breakdown the project (15-20 activities) and use the MS Excel template to determine activity costs and estimate the budget that is needed to do this project.
· Distribute the total budgeted cost over the expected time span of the project (Class 2 Slides#27,28,29)
· Draw cumulative budgeted cost curve for this project.
· Imagine that you sign a contract at the beginning of this project to develop a data analysis software for your project. The cost of this job is $4,000 and it will take 6 weeks. What type of cost is that? How can you distribute this cost over time span of the project? Modify your cumulative budgeted costs table and curve.