Chapter 10, Managing Costs Effectively

Website development

In this exercise, you will practice managing costs in Microsoft Project by working with fixed and resource costs. You will insert cost columns, create custom fields, and use formulas to calculate resource costs. This exercise will help you understand how to monitor and control project budgets effectively, ensuring accurate budgeting and forecasting. By the end of this exercise, you will be able to differentiate between fixed and resource costs and manage them efficiently within your project:

1. Create a new project:
   1. Set a start date for next month.
   2. Use the standard calendar.
   3. Use auto tasks (not manual tasks).
2. Enter the following tasks:
   1. Project initiation:
      1. Define the project scope (2 days)
      2. Identify the stakeholders (1 day)
   2. Planning:
      1. Create a project plan (3 days)
      2. Allocate resources (2 days)
   3. Design:
      1. Create wireframes (5 days)
      2. Review and approve designs (2 days)
   4. Development:
      1. Develop the website (10 days)
      2. Test the website (4 days...