08 Sep For this assignment, you will continue working on the WAG expansion project. The PM, project sponsor, and the Finance department have met and determined that 3 million US dollars is sti
For this assignment, you will continue working on the WAG expansion project. The PM, project sponsor, and the Finance department have met and determined that 3 million US dollars is still the appropriate funding requirements to build the new plant in the UK over a 2-year time period. After meeting, the team determined the following breakdown for the allocation of costs:
- The budget will be $1.5 million per year
- 20% is allocated to salaries each year
- 50% is allocated to construction, upfitting, and purchase of land per year
- 20% is allocated for equipment purchases per year
- 10% is allocated for contingency reserve per year
Your task is to use the budget template linked below to input your projected budget breakdown for year 1 and year 2. Using the tasks that you created in the project management schedule from Module 03 and the work breakdown from Module 04, fill in the sheet so that you can begin building the budget by high-level task group. After completing your budget, explain in a Word document why you chose the expense lines that you included and justify the totals for each of your major categories.
ATTACHED IS A EXAMPLE
RACI Example
| Step | Project Initiation | Project Sponsor | Project Manager | Stakeholder 1 | Stakeholder 2 | Accounting/Finance | |
| 1 | Task 1 | C | A/R | I | C | I | |
| 2 | Task 2 | A | I | C | R | I | |
| 3 | Task 3 | A | I | C | R | I | |
| 4 | Task 4 | C | A/R | R | I | I | |
| Legend: | |||||||
| R | Responsible | ||||||
| A | Accountable | ||||||
| C | Consulted | ||||||
| I | Informed |
RACI Template
| Step | Project Initiation | Project Sponsor | Project Manager | Stakeholder 1 | Stakeholder 2 | Accounting/Finance | |
| 1 | |||||||
| 2 | |||||||
| 3 | |||||||
| 4 |
Budget Template
| Project Budget | Year 1 | Year 2 | ||||||
| Total Budget = $XXXXX | % of total budget | $2,500,000 | $2,500,000 | |||||
| Operational | $0 | $0 | ||||||
| Labor | ||||||||
| Salaries | $0 | $0 | ||||||
| Benefits | $0 | $0 | ||||||
| Contract labor | $0 | $0 | ||||||
| Total Labor | 0% | $0 | $0 | |||||
| Capital | $0 | $0 | ||||||
| Fixed Assets | ||||||||
| Property | $0 | $0 | ||||||
| Equipment | $0 | $0 | ||||||
| Construction cost | $0 | $0 | ||||||
| Total Fixed Assets | 0% | $0 | $0 | |||||
| Contingency Fund | $0 | $0 | ||||||
| Total Contingency | $0 | $0 | ||||||
| Total | 0% | $0 | $0 | |||||
| Variance | $0 | $0 | ||||||
| You are able to add additional line items under each category by inserting a row. |
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