[Solved by Experts] Four Shark Tank Like
Chapter 7 – Read the Running Case at the end of the chapter.
Each team member will complete the 3 tasks for this case project and submit individually.
Running Case Chapter-7:
You and your team are continuing your work on the Global Treps Project. Your project sponsor,
Dr. K., has asked you to refine the existing cost estimate for the project so you can evaluate
supplier bids and have a solid cost baseline for evaluating project performance. Recall that
your schedule and cost goals are to complete the project in six months for under $120,000.
You planned to use up to $50,000 total to pay yourself and your team members, and your initial
estimates were $30,000 for travel expenses, $20,000 for hardware and software, and $20,000 for
organizing four events, including consultants, legal/business fees, etc.
1. Prepare and print a one-page cost model for the project, similar to the model provided in
Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to
document your assumptions in preparing the cost model. Assume a labor rate of $20/hour
for yourself (the project manager) and team members (Kim, Ashok, and Alfreda). You will pay
Bobby, your IT guy, $30/hour. The project will fund refreshments for the four shark tank like
events and prizes for the winners, at a cost of $1,000 for each event.
1.1 Project management
1.2 Hardware (3 laptops and Internet access for Kim, Ashok, and Alfreda)
22.214.171.124 Domain name and site hosting
126.96.36.199 Donation acceptance feature of website
188.8.131.52 Video creation for website
1.3.2 In-house Development
184.108.40.206 Guidelines and templates for events
220.127.116.11 Acceptance of ideas for needed new products or services
18.104.22.168 Custom site for 20 events
1.4 Business Plan
1.4.1 Internal labor
1.4.2 Legal information/assistance
1.6.1 Internal labor
1.6.2 Consultant labor
2. Using the cost model you created in Task 1, prepare a cost baseline by allocating the costs
by WBS for each month of the project.
3. Assume that you have completed three months of the project. The BAC was $120,000 for
this six-month project. You can also make the following assumptions:
a. What is the cost variance, schedule variance, cost performance index (CPI), and
schedule performance index (SPI) for the project?
b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget
or over budget?
c. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project
performing better or worse than planned?
d. Use the SPI to estimate how long it will take to finish this project.
e. Sketch an earned value chart using the information from your answers to parts a through
d. Use Figure 7-6 as a guide.
Chapter 8 – Read the Running Case at the end of the chapter.
Each team member will complete tasks 1 and 2 for this case project and submit individually.
Running Case Chapter-8:
Part 5: Project Quality Management
The Global Treps Project team is working hard to ensure they meet expectations, especially
for the people who will be holding and participating in the four events. The team has a detailed
scope statement, but you want to make sure you are not forgetting requirements that might affect
how people view the quality of the project. You know that the project’s sponsor and other key
stakeholders are most concerned with getting people to use the new website, having successful
events, and helping promote entrepreneurship across the globe. You also know that various
geographic and cultural issues will need to be addressed.
1. Develop a list of quality standards or requirements related to meeting the stakeholder
expectations described in the running case. Provide a brief description of each requirement.
For example, two requirements related to the new website might be that users can read
the content in several different languages and that users provide good ratings for the online
2. Based on the list you created for Task 1, determine how you will measure progress on
meeting the requirements. For example, you might have people take a survey after they view
the online training videos to collect feedback.
***I attached text book for reference. Question is from Chapter-7 & Chapter-8*****
Need to complete given Tasks in both cases. Please take care of Plagiarism.