Weekly Discussion Question – (25 points)
Situation — As you had anticipated, your Program Manager asked you how you were coming along with your Cost Management Plan Template for DIT and wanted to know if you would like her support in organizing an ASDG peer review of your template. This is good news to you because you want to deliver the highest quality ASDG product you can to your customer, so you eagerly accept her support for organizing the peer review.
Assignment — On the Week 11 discussion board forum, summarize all of the different sections (i.e. the section names, purpose, content, etc.) you have included in your Cost Management
Plan Template (CMPT) to date. Discuss what you kept from the original template, what you deleted, and any new content (sections, additions) you have included and why. Discuss areas of improvement you are considering based on your recent findings.
Week 11 Discussion Part II
The cost management template has various sections. The template starts with the cover page, Table of constant introduction, the actual cause of making the template, and all the other important information are there on it as well. The management plan includes the scope, plan, risk, changes, and the process that is actually to be there. There will be a total of ten sections and the first section will be the introduction part. The second section will be about the scope and management place. The third section will be related to the risk which is there while making the plan. The fourth section will be related to the communication plan (Banker et al. 2018, p.187). In the fifth and the sixth part, the information related to the resource’s allocation will be there, and with that of their allocation as well. The seventh and eighth sections will include the improvement plan section where the information related to the section which needs to be improved is to be mentioned. The ninth section will be the discussion on the EVM and the last section which is the tenth part will be related to the conclusion part where all the detailed information is related to it.
The original template will be there because it has various information which is essential and needs to be implemented. There is various important information that needs to be deleted as well and the focus on improvement should be there. The sections that need to be added are the introduction, conclusion, risk factors, and communication sections as well.
According to the frequent finding, the areas of improvement that need to be done is related to the information of the stakeholder and communication (Muha, 2019, p.105). These are the areas where the main focus is to be kept and more information is to be provided on them as well.
Banker, R. D., Byzalov, D., Fang, S., & Liang, Y. (2018). Cost management research. Journal of Management Accounting Research, 30(3), 187-209.
Muha, R. (2019). An overview of the problematic issues in logistics cost management. Pomorstvo, 33(1), 102-109.