Question

In: Finance

Please do in excell 1. Your family (you, your spouse, and five-year-old child) are planning a...

Please do in excell

1. Your family (you, your spouse, and five-year-old child) are planning a trip to Walt Disney World in Orlando, Florida. Representatives from upper management (your spouse and child) have specified that the trip will entail travel to Orlando, a four-night stay, and three days spent in Disney World itself. You and your spouse have allocated about $5,000 from your annual budget for this project.

a. Develop a WBS for this project and submit your work in mind map and outline form. You should have at least 30 work packages as the lowest level. Student answers will vary but should include 5-6 deliverables and at least 30 work packages as per the following example:   THE FURTHER DOWN YOU GO IN WBS THE BETTER!

b. Select three of the deliverables included in your WBS and, for each, list three key performance indicators

12. For two of the major deliverables or project elements you identified for the Disney World project, develop a detailed cost estimate in a spreadsheet format similar to the one shown in Exhibit 5.20. Your goal is to make the cost estimate as accurate as possible. Explain the approach you adopted in developing the estimate and the strategies you used to increase the accuracy of the estimate. Also list any assumptions on which your estimates are based. How confident are you in the accuracy of these cost estimates? Why?

Solutions

Expert Solution

Answer
a)
Work Breakdown Structire       Level 1
Vacation in Walt Disney World, Orlando, Florida
Level 2
Plan Project Execute Plan Action process Return Journey
Initiate Vacation Plan Apply leave at office Fly to Orlando Departing Time
Feasibility Study Apply leave at school Ground transport to hotel Ground transport to Airport
Check Hotel options Book hotel Dinner at Hotel café Arriving time at home
Check travel options Book air travel End Project
Air transport options Buy Disney World tickets Day 1
Ground Transport options Book ground transport Early breakfast at hotel
Dining options Dining reservations Receive Disney World tickets
Budget costs Purchase photopass Enter Park
End Planning Make paymnents Enjoy game rides
Take Pictures
Lunch at Disney World
Enjoy Games
Retire to hotel
Dinner at hotel
Day 2
Early breakfast at hotel
Enter Park
Enjoy game rides
Take Pictures
Lunch at Disney World
Laze around the park
Retire to hotel
Dinner at hotel
Day 3
Early breakfast at hotel
Enter Park
Enjoy game rides
Take Pictures
Lunch at Disney World
Order picturess, paintings
Retire to hotel
Dinner at hotel
b) Performance indicators
1) Check Hotel Options - Key performance indicator - 4 nights stay, 3 days in Walt Disney World
2) Budget Options - Key performance indicator - ensure total cost of project is less than or equals $ 5000
3) Apply leave at office/ school - key performance indicator - to make sure all the family members get leave on the same
    dates of the project
c) Cost of Budget Options $
Hotel Costs stay with breakfast 2200
Air costs (to & fro from home to Orlando) 1800
Ground Transport during all days of project 300
Lunch. Dinner at Disney World 600
Miscellaneous 100
Total 5000
Note:
The question mentions cost estimate as per exhibit 5.20. As the said exhibit is not placed with the question, a simple
cost budget as above has been made

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