Use the following WBS. 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) 1.3 Software

1.3.1 Outsourced 1.3.1.1 Domain name and site hosting 1.3.1.2 Donation acceptance feature of website 1.3.1.3 Video creation for website 1.3.2 In-house Development 1.3.2.1 Guidelines and templates for events 1.3.2.2 Acceptance of ideas for needed new products or services 1.3.2.3 Custom site for 20 events 1.3.3 Testing

1.4 Business Plan

1.4.1 Internal labor 1.4.2 Legal information/assistance

1.5 Travel 1.6 Events

1.6.1 Internal labor 1.6.2 Consultant labor 1.6.3 Refreshments 1.6.4 Prizes

PART 2

IT projects are known for overpromising and underdelivering. As a consequence many executive managers are now requiring cost-benefit analyses as part of the proposal process for project dollars.

a. How can a cost-benefit analysis help in the proposal phase to address the problem of IT projects which overpromise?

b. How can a cost-benefit analysis at the beginning of the project help in daily decision-making during the course of the project?

c. How can a cost-benefit analysis be useful at the end of a project?