Return to your Project Libre file saved in your previous assignment. Click on the task view tab and the Gantt chart view. Right click on the “Start” column until you see the “insert column” window. Click on “insert column”. Next, scroll down the insert column window until you see “Cost”. Click on “Cost”. This creates a column to capture the cost of each of the activities in your project.
Next, click on the “Charts” tab in the upper right hand corner of the Project Libre screen. This will bring up the S-Curve. An example of what this looks like is given below in the office relocation project example, as follows:
Answer the following questions in a two-page Word document report:
- At what point in your project does the cost/budget curve peak?
- What activities are driving the peak in project costs?
- In your view, is the cost curve manageable, or would it be more practical to smooth out the cost curve? If so, what steps would you take to do this?
- What are the implications of your cost curve for cash flow and project funding?
- Over the top (2013). PM Network, 27(10), 22.
- Vargas, R. V. (2015). Applying neural networks and analogous estimating to determine the project budget. Paper presented at PMI® Global Congress 2015—North America, Orlando, FL. Newtown Square, PA: Project Management Institute.
- Lazar, O. (2015). Stop reacting, it’s too late! Start to anticipate!: use a proper budget structure as an early warning system integrating cost, scope and risks. Paper presented at PMI® Global Congress 2015 —EMEA, London, England. Newtown Square, PA: Project Management Institute.
- Stroke of Strategy: Success Extends beyond Scope, Schedule and Budget (2016). PM Network, 30(11), 20–21.
- Brannan, L. (2006). Project budgeting using the project management knowledge areas. Paper presented at PMI® Global Congress 2006—Latin America, Santiago, Chile. Newtown Square, PA: Project Management Institute.