1. Project Management $306,300 20%

1.1 Project manager $96,000

1.2 Project team members $144,000

1.3 Contractors (10% of software development and testing) $66,300

2.0 Hardware $76,000 5%

2.1 Handheld devices $60,000

2.2 Servers $16,000

3.0 Software $614,000 40%

3.1 Licensed software $20,000

3.2 Software development $594,000

4.0 Testing (10% of total hardware and software costs) $69,000 5%

5.0 Training and Support $202,400 13%

5.1 Trainee cost $50,000

5.2 Travel cost $8,400

5.3 Project team members $144,000

6.0 Reserves (20% of total estimate) $253,540 17%

Total project cost estimate $1,521,240

Budget: It is assumed that the budgeted amount of $600,000, the hardware requirement of $90,000, the software requirement of $110,000, and the operation cost of $200,000 are included in the total project cost estimate. The cost of labor and other costs is also assumed to be included in the total project cost estimate.

Because the project has been under development for approximately 4 weeks, the budget at completion (BAC) will be based on the allocated cost for the whole project.

Determine a reasonable estimate for PV, EV, and AC.