Group Project

Group Project
First of all, it is important to define the equipment and materials needed for the implementation of the project and define the financial resources needed to purchase and maintain the equipment and materials. As the matter of fact, the implementation of the project is impossible without the use of the equipment and materials. Therefore, it is necessary to calculate the exact amount of money to purchase and maintain the equipment and materials. In addition, the equipment and materials will be used by specialists involved in the project and it is necessary to make certain that they are able to use the equipment and materials.
At the same time, wages of specialists involved in the project is another important item of the budget of the project and it is necessary to calculate accurately the amount of money needed for the wages of the specialists. In fact, wages comprise an integral part of the motivation of specialists working on the project. Therefore, it is important to balance wages to keep specialists motivated to work on the project.

The next important item involved in the budget of the project is funding of the facilities used in the course of the implementation of the project or rent. In fact, the implementation of the project is impossible without the use of facilities. Therefore, while working on the budget of the project, it is necessary to analyze the needs of the project and define basic requirements to the facilities. On the ground of these requirements, it is possible to choose the facilities that match the needs and goals of the project. At this point, it is important to remember about the costs of the facilities because the costs should not be exorbitant and the project team should choose facilities that match the project’s budget along with the project’s needs and goals.

At the same time, the facilities and equipment used in the project need maintenance. Consequently, while working on the project budget, the project team should focus on the calculation of possible maintenance costs. In this regard, it is necessary to take into consideration the maintenance of facilities, materials and equipment used for the implementation and development of the project. Also the project team should take into consideration that the implementation of the project may need additional costs, which are not related to the aforementioned issues, such as the organization and payment for dining of specialists in the course of the implementation of the project, for instance.

Finally, the project budget will need to cover costs of travel. Specialists involved in the project will need to travel that includes fuel, train, bus, and other tickets, and so on. All these costs should be covered by the project budget. Otherwise, specialists involved in the project will need to spend their own money to cover travel costs that may discourage and undermine their motivation. In such a context, the implementation of the project may be under a threat because the low motivation of specialists involved in the project leads to their poor performance and, therefore, poor implementation of the project.
The order of the implementation of the items is as follows:

First, it is necessary to define the equipment and materials needed for the project and define the costs of the purchase and maintenance of the equipment and materials.

Second, it is necessary to recruit specialists and define their wages.
The next step is the definition of travel costs. For this purpose, it is necessary to calculate how much and where specialists working on the project need to travel.

Finally, it is necessary to find facilities needed for the project and define the costs of their rent and maintenance.
Dependencies between activities are obvious. Specialists working on the project cannot implement the project without the equipment and materials, which are essential for the implementation of the project. Furthermore, they need to travel to prepare and implement the project. Finally, they need facilities where they can place the equipment and work on the project.

Considerations for duration

The preparation and implementation of the project budget will take a couple of week. One week will take the analysis of costs needed and finding sources for funding. The next week will take the calculation and definition of expenses and sources of funding.

Considerations for resources

The resources needed for the project should cover the needs of the project. Hence, the project team should define clearly goals of the projects and means with the help of which the team can reach the set goals.

References:
Abrahamson, E. (1996). "Management fashion." Academy of Management Review. 21(1):254-285.
Benfari, R. C. (1999). Understanding and changing your management style. San Francisco: Jossey-Bass.
Breneman, D. W., & Taylor, A. L. (eds.). (1996). Strategies for promoting excellence in a time of scarce resources. San Francisco: Jossey-Bass.

Group Project 9 of 10 on the basis of 2321 Review.