Discuss some of the best practices for estimating and developing a project budget.

Whether we know it or not, we all have planned and executed projects at some point. For the assignments in this course, you will select a project to undergo the project management process. This project can be real or fictional, but you should choose something that you are interested in.

Remember a project must:

• Have a beginning and an end.
• Result in something being delivered to someone.
• Require a series of activities that must be done to complete the project.
• Require resources (for example, people and materials) to complete the work.

Again, we have all done projects. A project can be something as simple as taking a vacation, having a family reunion, putting on a wedding, having a birthday party, or buying / selling a house. The project could also be job-related, such as managing a major technology upgrade for the organization, putting together an annual management retreat for all employees, or something else that meets the definition of a project. The focus of your paper should be on the concepts learned from the chapter readings and not how well you can describe a project. All opinions must be supported with sources and in-text citations. Also, feel free to use different projects for each assignment.

Note: To avoid a high SafeAssign percentage, do not simply copy and paste from one assignment to the next.

Note: You are prohibited from using projects that can found on the Internet, including projects found in places such as CourseHero. All project submissions are submitted to SafeAssign for review.

INSTRUCTIONS

Write a 3–4 page paper in which you define the scope of your project:

1. Provide an introduction and overview of the project.
2. Explain why it is important to define the goals and objectives for a new project.
3. Describe at least two goals for the project and describe an objective for each of the goals. Include in-text citations from credible sources that explain the importance of establishing and defining goals and objectives for a new project.
4. Explain why it is important to understand the organizational structure where the project will be completed.
   • Chapter 3 in the course textbook describes project management structures.
5. Describe the project management structure that you will use to manage your project and why you made that choice.
   • For example, will you manage it via the existing functional structure of the organization, set up a projected/dedicated project team, or use a matrix management structure? If you will use a matrix structure, which type will you use?
   • Include in-text citations from the course textbook to explain these structures and the benefits of one over the other.
6. Define the term “project stakeholders,” identify the stakeholders involved with your project, and discuss their impact/role on the project.
7. Discuss some of the best practices for estimating and developing a project budget.

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