THE CANADIAN INSIDER

COST MANAGEMENT PLAN

-PROJ 1002-Assignment 1A

PROJECT TEAM: HIVE

Team Members: Aayush Duhan

Saurav Kumar
Jayesh Makwana
Harmanpreet Kaur
Meet Shah
1- Introduction
THE CANADIAN INSIDER is a guide that helps international students in their smooth
transition to Canadian culture. As international students we face a lot of difficulties in finding
accommodation, finding part-time jobs, getting a sin number, getting a sim card, opening a
bank account, how to handle health issues, what to order at Tim Hortons,  when and where to
do the winter shopping, where to do cheap grocery in Kingston, so our team decided to build
a guide which will consist all those information like how to find accommodation how to
apply for jobs, what to order at Tim Hortons, how to use guard.me insurance, what
documents are required to get a sin number and sim card and for account opening in banks,
we will mention dates and location for cheap grocery shopping and for winter shopping. This
information leads international students in a smooth transition from their homeland to this
beautiful country of Canada. 

1.1- Business Need

The business need for HIVE is to create awareness among the new international students who
are going to join St Lawrence College about how to get accommodation, job search, banking,
health well-being, and daily life needs. Furthermore, establish credibility, and build a
relationship with stakeholders.

1.2- Project Justification

The project justification of “THE CANADIAN INSIDER” is as follows-
Helping students for a smooth transition- When international students, arrive for the first
time in Canada they have so many doubts. There are many things that they don’t know
about Canada like how things work here. So this guide file is going to help them in a smooth
transition.
Filling gaps in existing resources: While many colleges and universities provide orientation
sessions and other resources for students, there may still be information gaps. A guide file
can provide additional information on topics such as choosing a major or managing finances
that may not be covered during orientation.
Awareness about facilities at college: By this guide file students will know more about clubs,
services, and other things which the college provides. Therefore, it helps students in better
engage with other students and the college.

1.3- Business Strategy

The business strategy of THE CANADIAN INSIDER project is:
Strategic alignment- The student who needs accommodation, a job, or information about
health, banking, or regular needs can get it from our project. So students can align with the
guide file.
Value Creation- This guide file will create great value in new coming student’s life, as it is
going to help them learn more about the new country and help them adapt to a new place.
Sustainability- This project can create sustainability for college operations because students
will learn more about the college and the clubs and services which the college provides.

1.4- Milestones and Deliverables

 Prepare Team charter.
 Prepare a Project charter.
 Sponsor Approval
 Gathering Information
 Designing THE CANADIAN INSIDER
 Handover the file

1.5- Project Schedule

2. Cost Management Plan

2.1. Document Purpose
The purpose of the cost management plan in the context of the guide file is to provide a
framework for all the deliverables of the project. The Cost Management Plan helps to ensure
that the project is completed within budget while meeting the project objectives and
delivering the expected value to the stakeholders.
 This document is created by the whole team. This document is the responsibility of the
project manager. He is responsible for ensuring that the document is updated as needed and
that it is accessible to all team members who need it.

2.2- Estimation
In our project The Canadian Insider we will use the PERT technique for the estimation of the
budget in the metric of hours. The total cost estimate of our project is 214 Hrs. After
considering risk factors with this project, we will consider a 20% budget for contingency
reserve which is 43 Hrs, so our cost baseline of the project is 257 Hrs. In this project, we also
allocate 10% of our cost baseline budget for unknown reserves which are known as
management reserves. Our management reserve for this project is 26 Hrs. After considering
all the reserves for our budget, the project budget is 283 Hrs.

2.2.1 Cost Estimates

WBS Tasks Responsible Optimisti Most Pessimisti PERT
ID Person c Likely c
1.1 Initiate
1.1.1 Team Meeting Project manager, the Project 10 12 14 12
team
1.1.2 Prepare a project charter Project manager, the Project 6 8 10 8
team
1.1.3 Prepare a project initiation Project manager, the Project 6 8 9 7.83333
report team
1.2 Planning
1.2.1 Prepare a project plan
1.2.1.1 Prepare a change Schedule manager 4 5 6 5
management plan
1.2.1.2 Prepare a cost management Project manager 3.5 5 6 4.916667
plan
1.2.1.3 Prepare a Human resource Resource manager 4.5 5 6.5 5.166667
management plan
1.2.1.4 Prepare a communication Documentarian 4.5 6 8 6.0833333
management plan
1.2.1.5 Prepare a schedule Schedule manager 5 8 10 7.8333333
management plan
1.2.1.6 Prepare a Quality Project manager 5 6 8 6.166667
management plan
1.2.1.7 Prepare a Risk management Risk manager 6 8 9 7.83333
plan
1.3 Execution
1.3.1 Gathering Information
1.3.1.1 Gathering job search Project manager 15 18 20 17.83333
information
1.3.1.2 Gathering Accommodation Schedule manager 12 16 18 15.66667
information
1.3.1.3 Gathering Banking Resource manager 10 14 16 13.66667
information
1.3.1.4 Gathering daily life Documentarian 18 20 22 20
information
1.3.1.5 Gathering health and well- Risk manager 14 18 22 18
being information
1.3.2 Designing the Canadian
insider
1.3.2.1 Content Outline Risk manager, Documentarian, 12 16 20 16
resource manager, project
manager
1.3.2.2 Visual design Risk manager, Documentarian, 10 12 9 11.166667
Schedule manager, project
manager
1.3.2.3 Layout and formatting Risk manager, Documentarian, 12 14 11 13.16667
 project manager
1.4 Monitor Control
1.4.1 Quality Assurance
1.4.2 Proofreading with subject Project manager 3 4 5 4
matter experts
1.4.3 Proofreading with Sponsors Project manager 5 6 8 6.166667
1.5 Closing
1.5.1 Handover the Canadian Project manager 1 2 3 2
insider
1.5.2 Prepare the lesson learned Project manager, 3.5 5 7 5.083333
Documentarian

2.2.3 Project Documents Updates

 Assumption log Updated.
 Schedule updated.
 Risk register

2.3 Determine Budget

2.3.1 Cost Baseline
The cost baseline is the approved version of the time-phased project budget, excluding any
management reserves, which can only be changed through formal change control procedures.
It is used as a basis for comparison to actual results. The cost baseline is developed as a
summation of the approved budgets for the different scheduled activities.
2.3.3 Project Document Updates
 Cost estimates updated.
 Project schedule. Estimated costs for each activity may be recorded as part of the
project schedule.
 Risk register. New risks identified during this process are recorded in the risk register
and managed using the risk management processes.