Join Bonnie Biafore for an in-depth discussion in this video Project scenario, part of Managing Actual Values in Microsoft Project.
- [Voiceover] In this course, you're managing the project to set up a small business' retail shop and online retail website. The finish date and final cost are both important to the business owner, which is why you plan to track actual values for the schedule and cost. The project uses a combination of internal and external resources. What you need to track depends on how the resources affect the schedule and budget. Let's take a look at the resource sheet.
The owner, the project manager, system admin, and other employees are all salaried. They're in the group that's called Internal. The owner considers salaries as overhead. To keep things simple, you aren't going to track their work hours. You plan to track task duration or percent complete for their assignments. By including the hourly rates here, you'll be able to get a rough idea of labor costs, even if the owner doesn't care.
On the other hand, the web developer and the web master are subcontractors who charge by the hour and take direction from you. You have to track their work hours to see their effect on the schedule and cost. When they send status to you in an Excel file you import that information into your project. Going back to the Gant chart, I'm going to scroll down to look at the construction tasks. The lease includes a turnkey build-out, which means the landlord pays the build-out cost.
The only thing you need to track for construction is the schedule. Going down further in the project, there is a task, Install Furnishings and Equipment. The furniture vendor provided a fixed cost for installation. You only have to track the schedule for that installation. I'm going to turn on the Details pane, and we can see that there is a cost resource assigned to this task. When I change the table to show the cost by right clicking in the Task form, the cost field shows this fixed cost that the furniture vendor is charging.
That's a quick overview of the project we are using in this course, and the actual values we're going to track.
Note: This course was designed in collaboration with author John Riopel. It will show how to use Project to implement the skills taught in Project Management Fundamentals, Managing Project Budgets, and Agile Project Management with Microsoft Project. You can follow along with Project 2010, 2013, or 2016, using the free or premium versions of the exercise files.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Setting Project options for updating
- Building custom views for updating
- Updating and rescheduling tasks
- Updating duration, percentage complete, and work remaining
- Updating assignments
- Importing updates