Project Cost Management & Procurement Management

Description
The team returned and discussed their ideas about the budget impacts on the project scope. The brainstorming session went very well, with a lot of input from the entire team. You now have more than enough project cost information to share with Sam and Gloria. The discussion again turns to the best way to present the information. Jim shares some insight on Sam and Gloria with the team.

“Sam and Gloria will have different concerns and issues on project human resources management,” says Jim. “Sam will focus more of his attention on the qualifications of people, while Gloria will be concerned with the cost of additional resources and services for the project.”

“Sam and Gloria really liked our last slide presentation,” says Jerry.

“I agree, we should put together another slide presentation of 10 slides with title and reference slides,” says Sara. “We should include speaker notes of about 800 (words) speaker notes per slide as well.”

“The presentation should include the salary and budget information that we shared in our team discussion,” you say. “We should also consider the cost of possible overtime pay.”

“Don’t forget the cost of additional people, equipment, and technology for team members and the cost of the services rendered by the vendors,” says Sara. “It should include additional maintenance and training costs as well.”

“Oh, that’s great!” says Jim, turning to you. “Do you think you can prepare another presentation for the team? You did such a great job last time.”

“Sure,” you say. “I’ll have it ready to review at our next meeting.”
During your final check of your presentation, you review your notes from the meeting to be sure you have covered salary and budget information from your discussions, and the cost of overtime, additional people, equipment, and technology. Also include the cost of services rendered by the vendors.

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