University : The College of Adult Learning UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : BSBPMG514
Country : Australia
Assignment Task

 

Assessment Description:
This assessment pack requires the learner to manage project costs. To complete this comprehensive assessment, the learner must complete 3 assessment tasks. For a task to be considered satisfactory, all elements of it must be complete. On completion of the 3 tasks, the learner will demonstrate that they can:

  • Determine project costs
  • Monitor and control project costs
  • Complete cost management processes

Introduction:
Before you commence this Learner Assessment Pack, you must ensure that you have a good understanding of this subject by completing all of the learning materials, learning activities and quiz included in this unit. You must also make sure that you understand the assessment requirements – by reading this document carefully. All students who have nominated a third party for their course must provide a completed third-party evidence collection form for this unit. You can nominate a third party here. All documents submitted for this assessment must:
• be correctly named
• be professionally presented and typed
• have your name in the footer of each page of the document
• include a bibliography and in text citations using the Author Date method for more information click here.
We recommend that you submit all assessment documents in a zipped folder and all learning journal activity documents in a separate zipped folder. Click on the Assessments tab within the unit and use the Assessment Submission field to attach your two zipped folders.

Task Description:
For this assessment you are required to provide written answers to questions based on:
• John Readings (Case Study)

This task is to be completed in your own time and once you have completed the program of learning for this unit. The answers and all relevant documents must all be submitted for assessment. It is recommended that you create an assessment folder for all of the documents required for this assessment. When saving files be sure to clearly identify the related task for example:
You must answer all questions correctly to demonstrate knowledge performance and/or complete all tasks satisfactorily to demonstrate task application.


John Readings is an Australian book publisher, distributer and retail business with stores located throughout Australia and New Zealand and a large online business. At present a total of ten retail outlets located in state capitals contain Cafes. As part of the company’s future development plans all retail outlets will soon have Cafes located within them. However, before this can happen, the current Café design for the ten retail outlets need to be refreshed and upgraded. The upgrade includes a fresh new menu, new furniture and layout design as well as a play area for children. You were successful in your application for the Project Manager role and have just had confirmation from Damian Black CEO that the project steering committee will include the Procurement Director, Marketing Director, the Director of Finance and the Café Operations Manager. The project is now ready to commence. An architect has been contracted to design the new look and feel and this has been approved by the steering committee. The architect and building contractor have provided costing estimates on which the project budget is being based. They have advised, in order to minimise business disruption, the order of works will be:
Stage 1 – Two days (no business disruption)

  • Playground fit out and flooring
  • Fencing and shade sail installation
  • Landscaping and new outdoor furniture

Stage 2 – Two days (café closure)

  • Removal of booths
  • Repainting of café dining area interior
  • Laying of floating floor over existing tiled floor café dining area only
  • New dining furniture and artwork

The Procurement Director has identified preferred suppliers for furniture and fit outs including the playgrounds. Damian Black, CEO has advised the following:
• It is assumed the marketing staff will contribute to the project, helping with the branding and other promotional items as required. The existing team is able to fully participate in training where required.
• It is assumed construction can take place simultaneously with other project deliverables.
• Constraints - budget and time are sufficient for the project, all products purchased for the café and playground will meet with the organisational quality standards and safety standards. Only approved preferred suppliers will supply equipment and furniture.
• The project is dependent on external dependencies, which involves consultation with the architect, building contractor and consultant chef.
• Building contractor was chosen based on his assurance that café shutdown times would be minimised to two days and the trade of the attached bookstore would be able to continue.
• Kitchen modifications, equipment and fit out work will not be included in the project and any requirements will need to be drawn from the operational budget for repairs/maintenance/equipment.
• You are responsible for liaising the HR and individual café managers and staff in regard to café shut down periods. Payroll has agreed to place information on payslips for individuals employed by each store notifying them of their cafe’s shutdown period. During the shutdown period for
each café the HR team will organise a venue for new menu training which will be facilitated by the consultant chef.

A revised budget has been developed in consultation with the Finance Manager of $200,000 for nine stores with the tenth store requiring a budget of $250,000 and an extra two-day shutdown period.
You have been asked to develop the project budget. For each store the following factors need to be considered and included:
• Building contractor costs (excluding external landscaping and fencing costs) $70-90,000 per store based on store size (some variances will apply e.g. council waste centre costs). Payment schedule is $250,000 a week prior to first store, $50,000 at the completion of each store, balance of works to be paid 30 days after project completion.
• Landscaping costs $60 per square metre (approximately prices dependent on local suppliers’ final costings)

Store 

Square metres requiring  landscaping

Hobart 

8

Launceston 

18

Adelaide 

12

Collins Street Melbourne 

0

Geelong 

13

Ballarat 

15

Sydney city 

0

Parramatta 

7

Canberra 

10

Byron Bay 

21


Fencing costs - $5,000-10,000 per store (unconfirmed)

 

• Furniture and artwork costs $15,000 per store. 30-day account. • Playground equipment costs (including installation) - $45,000 per store. 30- day account. 

• Consultant chef costs – menu preparation $1500, cost of training delivery  $500 per day, Consultation fee $70 per hour. Billed weekly and payable  within 7 days. 

• Training venue costs $150 per day. Payable in 7 days. 

• Food costs for training $100 per day. 30-day account. 

• Marketing and signage costs $250 per store. Billed internally by Marketing  Department. 

• Fees for the plans by the Architect will be sunk costs and not applicable to  this project budget, however, an hourly consultation fee of $100 per hour  applies to all additional time 

Your budget does not need to include any internal staff costs (e.g. labour costs).


 

Task 1 Specifications:

You must submit: 

John Readings Budgeting Processes document 

Procedure:

For this task you need to create a Word document titled: John Reading Budgeting  Processes. You will need to reference the John Reading policies and procedures you  reviewed in to confirm that you have conducted research into the existing processes in the  organisation. 

1. Based on the case study information, including the relevant financial policies for John  Readings, explain appropriate budgeting processes, tools and techniques. You should outline the various John Readings policies and how they are applicable to the  budgeting process. 

2. Based on your understanding of the requirements, describe the methods and tools you  will use for costing and cost analysis.  

3. The committee has asked you to develop a process for managing and controlling costs  and their application in different situations. Outline your process and identify the key  stakeholders who should be communicated with and how costing and budget  variances will be reported to the steering committee. 

4. Describe the process you will use for reviewing costs against outcomes.

 

Assessment Task 2 – Managing project cost 

Task Description:

For this assessment you are required to conduct project cost processes for either: 

John Readings (Case Study) or 

Your approved workplace project 

Assessment  Task 1

Assessment  Task 2

Assessment  

Task 3

Submit your  Assessment 

Short answer  questions

Managing  

Project Cost

Monitor and  

control project  

costs

This task is to be completed in your own time and once you have completed the program of  learning for this unit. The answers and all relevant documents must all be submitted for  assessment.  

It is recommended that you create an assessment folder for all of the documents required for  this assessment. When saving files be sure to clearly identify the related task for example: 

You must answer all questions correctly to demonstrate knowledge performance and/or  complete all tasks satisfactorily to demonstrate task application. 

Scenario: John Readings Pty. Ltd. Re-design Bookstore Café  

You have just finished up a meeting with the architect, building contractor and Purchasing  Director. From this meeting the schedule of works has been decided. 

The Procurement Manager will liaise with suppliers to ensure that the playground  equipment is delivered on day one of stage one, the following day the outdoor furniture will  be delivered. Dining furniture and artwork will arrive on day two of stage two.  

The schedule of store redevelopment will be as follows: 

1. Hobart 

2. Launceston 

3. Adelaide 

4. Collins Street Melbourne – an additional 3 days for Stage 2 due to flooring issues 5. Geelong 

6. Ballarat 

7. Sydney city 

8. Parramatta 

9. Canberra 

10. Byron Bay 

The contracting team will require a two-day period between cafes to allow for travel time.


 

Task 2 Specifications:

You must submit: 

• Work breakdown structure 

• Meeting agenda 

• Simulation with Assessor (case study only)

• Video and consent form, participant evaluation forms and self-evaluation form (workplace only) 

• Meeting minutes 

• Project Budget and Cost management plan 

• Cost variance template 

• Project Monitoring Report 

• Updated issues register 

• Completed cost variance template 

Procedure:

1. Provide a work breakdown structure for the project. 

2. Prepare a meeting agenda to be circulated to the steering committee and external  contractors (architect, building contractor, consultant chef) to determine resource requirements for individual tasks identified in the work breakdown structure. A meeting  agenda template is located here. 

3. For this task you will need to conduct a meeting with the steering committee and contractors and discuss the key points within your agenda. You will need to: 

a. Workplace: Organise to video a meeting as you conduct it where you are  determining the resource requirements for your project in line with the work  breakdown structure (save video of your meeting in mp4.video format) - ensure that your video demonstrates that you are communicating and interacting with  others and will cover the requirements as below.  

Your video and additional documents must comply with the Step by Step Video  recording procedure available here.  

You will also need to submit the meeting minutes for your meeting. 

The meeting will need to address the same criteria established below for the  case study simulation. Provide all information based on your workplace project  in-line with the questions listed.  

Once you have had this meeting you will need to submit the meeting minutes  and video as evidence along with the completed consent form, participant  evaluation forms and self-evaluation form. 

If providing a video, it will be securely retained for assessment purposes only. OR 

b. Case Study: Book an appointment with your Assessor to a meeting to determine  the resource requirements for individual tasks identified in the work breakdown  structure (as a role play) with your stakeholders.

Your video or role play will need to be 30 minutes in duration. 

You will also need to submit the meeting minutes for your meeting. 

The assessor will complete the Assessor Observation Report and will need to  observe how you provide the following information:  

a. The involvement and resources which will be required from the marketing  team 

b. The involvement and resources which will be required from the HR team? c. How will the actual expenditure be monitored against the budgets? d. The process for recording expenditure?

e. The financial reports to be compiled and how often they will be provided to  the financial director of the organisation and the steering committee 

f. The process for determining the effectiveness of the project cost management process which will be implemented 

The Assessor will also be observing how effectively you communicate the  information by:  

g. Applying clear language and non-verbal features to provide and seek  information 

h. Using effective questioning and listening skills to ensure that you engage  with others and elicit their views and ideas.

Part B Develop project budget and cost management plan 

1. Create a Project Budget and Cost Management Plan for the project (either a  workplace project or the case study). Your cost management plan must include: 

a. a summary of the project,  

b. roles and responsibilities of key stakeholders in relation to budgeting and cost  control,  

c. clear financial objectives and milestones to establish the cost baseline, 

d. cost estimation process,

e. cost management approach including cost analysis methods and tools you will  use to identify cost variations and evaluate alternative actions,  

f. cost variance action plan,  

g. cost control and reporting process, 

h. activities which will need to be undertaken to finalise the project 

i. review process to evaluate the effectiveness of cost management processes  including documenting improvements for future projects. 

Your cost management plan should include reference to organisational policies and  processes.  

2. Prepare a budget for the project. Your budget should align with your work breakdown  structure. 

3. Prepare a template which will be used to monitor cost variance for the project. Part C Monitoring costs and recording expenditure 

Create a Word document titled: Project Monitoring Report and address each point below in  detail: 

1. You have received an initial account from the consultant chef for menu design. His  original quote for the initial work of menu design was $1,500. However, the invoice you  have received was for $2,500. Outline how you would deal with this situation.  

2. You have been advised by the building contractor that there is an issue in the Hobart  store. He has been advised by the Council building inspector that there are  rectifications required to the toilet facilities in the café. The building inspector is  refusing to provide final sign off on the works until this has been remedied. Outline how  you would deal with this situation. 

3. The building contractor has just called you to let you know that there has been a price  increase by the local landscaper for the Adelaide store, the new price is $1,500 more  than you had originally expected. He has tried to contact alternate landscapers in the area, but they are all fully committed to other customers. Outline how you would deal  with this situation. 

4. The HR Manager has contacted you to let you know that there has been an issue with  the booking of a training venue for Sydney. Whilst the booking was made, the venue  failed to record it and as a result they are unable to provide you with the space. The  HR Manager has found an alternate venue at the last minute, but it is smaller and not  as centrally located. In addition, it will cost an additional $200 for the day. Outline how  you would deal with this situation. 

5. Provide an updated issue register reflecting the above issues. 

6. Using the template which you have developed in Part B to measure project budget  variance, complete the report for any issues which will impact the budget. This must  include at least two possible issues which impact on budgets for the project. 

Workplace students must provide an outline of the issues encountered during their project  and how they were resolved. You must also provide an issue register reflecting the issues  encountered and a completed cost variance report.
 

Assessment Task 3 – Monitor and control project cost Task Description 

For this assessment you are required to monitor and control project cost for either: 

• John Readings (Case Study) or 

• Your approved workplace project 

Assessment  Task 1

Assessment  Task 2

Assessment  

Task 3

Submit your  Assessment 

Short answer  questions

Managing  

Project Cost

Monitor and  

control project  

costs

 

This task is to be completed in your own time and once you have completed the program of  learning for this unit. The answers and all relevant documents must all be submitted for  assessment.  

It is recommended that you create an assessment folder for all of the documents required for  this assessment. When saving files be sure to clearly identify the related task for example:

You must answer all questions correctly to demonstrate knowledge performance and/or  complete all tasks satisfactorily to demonstrate task application.

 

Scenario 

Damian Black is concerned that project costs are not being correctly implemented and  monitored. Recently there has been downturn in the book trade and he has identified that  overall company budgets are going to be impacted this quarter. 

He is concerned that the project budget will be impacted and must assure the Board that  best practice tools are being implemented for project financial management.


 

Task 3 Specifications 

You must submit: 

? Research and analysis report 

? Policy and procedure 

? Project status report 

? Budget monitoring and review plan (as an Appendix to your report) 

? Email to the project team 

? Project Finalisation and Review report 

Procedure:

1. Create a Word document titled: Research and Analysis Report. The report is required  as part of the ongoing monitoring process and will be sent to the project sponsor for review. For tips on writing and presenting your report click here. Your report must  include: 

a. Introduction and overview of the organisation 

b. Identify and list the strategic goals of the organisation 

c. Identify and list the external stakeholders of the organisation and discuss their  influences on financial decisions made in the organisation 

d. Identify organisational policies and procedures which apply to project budgets and financial management 

e. Outline the role and responsibilities of project managers in regard to financial  management processes 

f. Identify and list three internal stakeholders in regard to project financial  management and outline their reporting requirements 

g. Describe two types of cost analysis methods and tools which can be used to  identify cost variations and evaluate alternative actions 

h. Describe the process to be used to ensure accurate and timely financial reports  are provided to project stakeholders 

i. Describe the process to be used to monitor and review project budgets 

2. Conduct research and develop a policy and procedure for project financial  management which details the steps which will be taken throughout the project life  cycle for the organisation. The policy and procedure must be detailed and reflect the  project you have been working on for this unit. 

3. Based on the progress of the project to date and the issues which have occurred  provide a completed project status report for the project using the template provided  here. 

4. Prepare a Budget Monitoring and Review Plan using the template here for the project  to date and include this as an appendix in your report. 

5. You have met with the steering committee who have approved the budget monitoring  and review plan. The agreed financial management processes and procedures to monitor actual expenditure against budget must now be implemented and monitored.  For this task, draft an email to the project team and:  

a. Explain the purpose of the plan  

b. Key aspects of the plan that the team need to monitor during the project c. How often the financial objectives will be reviewed, based on the plan

d. Who is responsible for managing the monitoring process? 

e. How information regarding any variances in the budget will be communicated  

6. Based on the financial reports you have developed and monitored, prepare for project  finalisation by conducting and providing a report of all activities you have conducted to  confirm the financial completion of all project costs.  

Create a report titled: Project Finalisation and Review and in addition to all project  costs you will also need to include:  

a. A review of the costings and outcomes of the project (use all data you have  collected in Assessments Tasks 1 – 3)  

b. Provide your evaluation on the way you managed the costs of the project and the  effectiveness of the processes you implemented  

c. Identify at least one improvement you would make to future projects and  management of project costs

 

Assessment  Task 1

Assessment  Task 2

Assessment  

Task 3

Submit your  Assessment 

Short answer  questions

Managing  

Project Cost

Monitor and  

control project  

costs

 

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  • Posted on : February 16th, 2019
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