O 2: State the best practices in the IT project management processes.

Question One

Assuming that the project duration to finish the project is 4 years, develop a project charter accordingly. Using any project management tool, create a Work Breakdown Structure (WBS) and draw the project Gantt Chart.

Project charter: 2 Marks

WBS: 3 Marks

Gantt chart: 1 Mark

Question Two

Using any project management tool, draw the project network and show the critical path.

Project Network: 3 Marks

Critical Path: 2 Marks

Question Three

Based on the project charter proposed in the Question 1, define all attributes related to the project and estimate the cost and budget of the project. Assess the values of the discount Rate, cost for every year, and benefits for every year.

Using Excel sheet, calculate the following:

• Discount factor for every year: 2 Marks
• Discounted Benefits for every year. 2 Marks
• Discounted Cost for every year. 2 Marks
• Discounted Benefits-Cost for every year: 1 Mark
• Cumulative Benefits – Cost: 1 Mark
• Calculate NPV : 2 Marks
• Calculate ROI: 1 Marks
• Determine the payback in which year (If possible). 1 Mark
• Explain the situation of your project. (over, under, behind the budget). Write the interpretation of your values?ß this is also not a question but a statement: 2 Marks

then paste your Excel sheet here including your name(s).

Note: The work should be your own using the tool, copying from students or other resources will result in ZERO marks in whole project.