Project cost
The total cost of the project would entail several components for the accomplishment of the project:
The three components (Website data base, Webpage coding, Developing forms) are simultaneous, so it is taken into account that it would take maximum ten days to accomplish this stage.
Shortest amount of time
Keep the Project within the Normal Schedule
There are two ways to keep the project within the normal timeline:
- To implement the fine / bonus system, and impose sanctions on the whole team, if they are not within the set deadline. If the team spends lesser time for accomplishing the assignment, and the speed of the accomplished work in no way impacted the quality of the wok, the team should be encouraged with a bonus.
- Sometimes unforeseen difficulties may appear, so, it would be necessary to hire new team members to keep the project within the set deadline.
35 days
To count out the changes in the budget of the project, it is necessary to count the everyday average cost of both variants. Thus, the standard variant (43 days) would cost $2340.70 a day, and the fastest – $4558.90 per a day. 35 is approximately between 43 and 28, so the arithmetical mean would be 3449.80 per a day. 3449.80 * 35=120743. The approximate cost will be $120 740.
References
Mantel, S.J.,(2007) “Project Management in Practice”, 3rd Edition.