Your project sponsor has asked you and your team to refine the existing cost estimate for the project so that there is a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in 6 months or less for under $250,000. Also recall that you plan to purchase a Web-based application developed by ABC Co. and customize it to meet requirements for this project. You'll also have consultants from MarketRight, who will help you determine user requirements and develop partnership programs. Initial estimates suggested that about half of the $250,000 budgeted for this project would go to hardware costs and the outsourced software and consulting services.