Your company has decided it is time to revamp the company's website. This is a project - it's a unique endeavor with specific goals and a defined start and end point. The end point of the project - when the revamped website "goes live" with employees and customers - signals a transition to day to day operations.Let's assume that there are two primary objectives for revamping the website:

1) customers are complaining about old/irrelevant content and

2) customers are complaining about the graphics and photos that depict white people only. Both of these issues must be addressed in the website revamp project.

Your team put together the Work Breakdown Structure (WBS) for this project and the Business Sponsor approved it. This signals the approval of your project's scope. Now it's time to determine how much it will cost to deliver this project's scope. In other words, we're building the project's budget.

1. Your first step is to build the structure of your budget.
   • Please use Microsoft Excel and the WBS provided.
2. Your second step is to estimate the labour and non-labour costs.
   • Estimating labour costs requires you to estimate how long the work will take (effort). Use the estimates provided in Table 1 below.
   • As a group, estimate how much the human resources will be paid by estimating the daily rates for the human resources required.
   • With respect to the non-labour costs of this project, consider the equipment and materials required to complete the project. Ensure you document your assumptions clearly. This includes a description of what the cost represents and how you determined the dollar amounts.
3. Your third step is to build the total budget

• This requires you to sum up the costs of each major deliverable. Create subtotalsat the major deliverable level. Build subtotals for the labour and non-labour costs as well. Use formulas whenever possible so you fully harness the power of Microsoft Excel.
• Establish a reasonable contingency for this project. You are free to make any assumptions you like; simply ensure they are well documented. 4. Your fourth step is to Build the time-phased budget.
• As discussed in class, the objective of the time-phased budget is to determine the cash flow needs of the project. In order to build a time-phased budget, you need to consider when the work will be done. Refer to Table 1 below for guidance. The total cost presented in the time-phased budget must always be equal to the total budget determined in Step 3.
• With respect to contingencies in your time-phased budget, it is acceptable to include them at the beginning of the project, end of the project or spread them out over the project's duration. As a team, decide which approach you feel is most appropriate and describe why. 5. Your final step is to summarize your assumptions and list your references (sources of information like hourly rates etc.). Assumptions help us understand any variations in actual expenses incurred and help us identify new sources of project risk. Add this information to the total budget tab of your Excel workbook as noted in the example reviewed during class.

Website Revamp Project Time estimate Preceding WBS # Deliverable/Work Package (days) Activity