Reference no: EM131323339

Project Costs:

The cost attributed to this project is according to the metrics that are predefined by the organization and as per margins followed by the project budget. Majority of the cost in this project will go in financing R&D to create the new interface. The 3 new database fulltime hires needs to be accommodated in the scheme. A part of the amount allocated will be used in training the project team, by identifying their skill gaps and bridging them up with necessary training sessions.

The various teams formed will be compensated from the amount allocated, which would include the quality management team, procurement management team, communication management team, schedule management team, database programmers, and a few others (Lock ,2007).The overall cost would also account for the cost of technical equipments, software purchases and consultant fees.

Finally the costs would be closely monitored and the variances will be submitted within a week of discovery.

Project Quality:

The industry is governed by a set of regulations and thus there is a predefined Quality Management plan needed likewise in this project. Moreover, the project being more technical in nature, and being not a core function to the organization, a new quality management charter governing over the functionalities of the addendum, has to be carved out ensuring quality assurance (Lock ,2007)

Project Human Resource Requirement:

The project needs new employees to be hired including 3 database experts. More human resources will be required for in time quality checks, technical assistance, consultation, overall managerial supervision, and other training purposes (Cleland, David I., Gareis, Roland (2006)).

The matrix structure of the organization will help in systematic allocation and de-allocation of members from the project. In addition, the human resource needs to account for the number of work-hours put in by the members for successful completion of the project.