QUESTION 1
Calculate the direct cost of labor for the project team using the following data. What are the costs for the individual project team members? What is the overall direct cost of labor?
Your response should be at least 75 words in length.
Name Hours Needed Overhead Charge Personal Time Rate Hourly Rate Total Direct Labor Cost
Johnathan 40 1.25 1.12 15/hr
Susan 100 1.75 1.12 21/hr
Debra 80 1.35 0 11/hr
Bobby 55 1.8 1.13 44/hr
QUESTION 2
What is the difference between direct and indirect costs? What is the difference between fixed and variable costs? Define, compare, and contrast each within the context of a project.
Your response should be at least 75 words in length.
QUESTION 3
Bottom-up project budgets are said to provide more detail and, as a result, be more accurate; therefore, why are top-down budgets used in projects? When, if at all, would you recommend using such an approach?
Your response should be at least 75 words in length.
QUESTION 4
Calculate the direct cost of labor for the project team using the following data. What are the costs for the individual project team members? What is the overall direct cost of labor?
Your response should be at least 75 words in length.
Name Hours Needed Overhead Charge Personal Time Rate Hourly Rate Total Direct Labor Cost
Jonathan 60 1.35 1.12 17/hr
Susan 120 1.8 1.12 31/hr
Debra 40 1.35 0 9/hr
Bobby 65 1.8 1.13 34/hr
QUESTION 5
Assume that overhead is charged on a flat rate basis. Each member of the project is assigned an overhead charge of $300/week. What would be the direct cost of labor for an employee, given that he or she is assigned to the project for 120 hours at $10.50?
Your response should be at least 75 words in length.
DQ Question
How has the global economy affected the importance of cost estimation and cost control for many project organizations? Please be specific, and offer examples. Feel free to use your own organization if possible.
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