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PROJ6002 Project Planning and Budgeting - Laureate International Universities 

Cost and Quality Management Plans

Learning Outcome 1: Evaluate and apply a range of project scope, cost and time management planning techniques and practices to address the needs of complex project briefs, including global, paying particular attention to issues impacting project outcomes.

Learning Outcome 2: Present and justify budgetary and planning outcomes to a globally diverse range of stakeholders who represent competing interests in order to obtain agreement and commitment to action.

Learning Outcome 3: Apply quality management planning tools and techniques to achieve expected project outcomes.

Question: You will begin developing the cost management planning component of your Cost and Quality Management Plans. For this component, you are responsible for developing the project cost estimate and a project budget baseline portion of your Project Management Plan.

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Part B

Cost management planning

• Cost estimation

Table 1: cost estimation table

• Budget baseline

"Cost management planning process"
The "cost management plan' is built up by following some processes, and this process contains vital objectives and goals of the process. This plan is made for the "cost management of the project". For the "cost management plan", a "cost estimation table" is made firstly where the phases of any project are described. According to the table, it is found that there are generally four phases of any project, and these are "initiation, planning, implementation and closing phase". All of those phases of any project require some materials and labor on which the company has to pay for in the plan, here also a table that shows the budget for the project. According to the budget table, the total budget for the project is $245Henri, J. F., Boiral, O., & Roy, M. J. (2016).
So for the project management planning, it will be required to be concerned that the cost for the project must be less than the budget. So in the cost estimation chart, it is found that the total cost is $209. It can be assumed that for "initiation, implementation and planning" phase most of the cost on the materials is required. Among them, as the planning phase of the project requires more material, so the cost of the materials for that phase is high. Again it can be easily assumed that for the implementation of the plan; more workers will be required. So for the implementation of the project plan, more cost is suggested. Although the cost plan is made on the basis of the budget plan, and it will take in consideration that the overall cost plan will not exceed the budget of the projectBrueck, D. F., Owen, C. R., Bye, T., Edwards, N. J., &Brueck, K. (2016).

"Tools and techniques for project management plan."
Quality refers to quality assurance in project management. According to the American society for quality ( ASQ ), quality assurance is " the planned and systematic activities implanted in a quality system so that quality requirements for a product or service will be fulfilled." Quality management is the process for ensuring that all project activities necessary to design, plan and implement a project are effective and efficient with respect to the purpose of the objective and its performance. Modern quality management and project management are very important entities since they both basically focus on customer satisfactionRever, H. ( 2007). The prime objective in quality management is making sure that the project meets the needs tha t was originally created to meet. According to the PMBOK* Guide,quality is "The degree to which a set of inherent characteristicsfulfil requirements." The whole project management team should always be responsible to maintain balance quality and grade to meet a target. A number of tools and techniques are used for managing quality planningMcClintok, T. ( 2016 ).

The cost-benefit analysis is integral part in quality management which is similar to cost benefit ratio. The cost and benefits are used for analyzing the trade-offs for providing quality. Similarly, cost of quality refers to all costs that are required for the quality of the project. Basically, prevention cost, appraisal cost and failure cost are associated with the cost of quality. Based on PMBOK Guide, brainstorming, force field analysis and nominal group technique can be used as additional planning tools. PMBOK Guide defines the the control quality process as the process of monitoring and recording the results of executing the quality activities to assess performance and recommend necessary changes. Many of the techniques under the control quality process assume a working knowledge of ststistical quality control, in particular the concept of sampling and probabilityRever, H. ( 2007).
Ishikawa's seven basic tools of quality are described below:

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Cause and effect diagram
Cause and effect diagrams were developed by Kaoru Ishikawa to show how various factors relate to potential problems. The diagram considers time, processmaterial, management, staff and environment as causes and output as effect.

Flowcharts
Flowcharts presents the relationship among various elements in process that can be used to determine and analyse potential problems in quality planning and quality control.

Check sheets
Check sheets are used to organize information in order to facilitate data gathering. Check sheets are particularly effective for doing inspections.

Pareto diagrams
A pareto chart states that a large number of problems are caused by a small number of causes. It is a bar chart graphically showing the causes ranked by frequency.

Histogram
It is a vertical bar graph that represents the frequency of each measured category and useful for common causes. Histogram can be taken as a tool to reduces some common causes that appear in quality managementRever, H. ( 2007).

Control charts
Control charts are used for determining statistical control and establishing statistical objective range of acceptable variations. They are useful for controlling issues of quality management.

Scatter diagram
It shows the relationship between independent variable and dependent variable. Scatter diagram provides ideas about maintaining variables.

There are several tools that are used for the "cost management plan" of the project. The first tool that is used in the project is the "experience". Experience helps this project to establish a proper cost management plan. Those experiences are gathered from similar projects that are done previously. Another tool is the "time horizon" of the project that is a set of time of every phase of the project. This time horizon is set for the project first, then, according to the horizon, the cost table is calculatedBrueck, D. F., Owen, C. R., Bye, T., Edwards, N. J., &Brueck, K. (2016).. The third tool that is used for this project is the "people" who are associated with the project. The quantity of people also has a vital role in the "cost management" of the project. So at the time of making "the cost management plan," the number of labor and other workers of the project is also taking in consideration. There are also "reverse analysis" and "vendor bid analysis" is done for the estimation of the "cost management plan". Lastly for some software like "MS Excel" is also used for the estimation purposeRever, H. ( 2007).

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Justification of the plan
In the "cost management plan" firstly, a "cost estimation" table is established with the help of experience and the time horizon. The table also requires the counting of the people who are involved in the project. This cost estimation table is made because it will help to make the specific commitment of the money for the project. In the plan, the amount of money in the cost estimation table is kept lower than the budget of the project. So it will help in earning a high amount of profit from the projectHenri, J. F., Boiral, O., & Roy, M. J. (2016).

Cost estimate planning
The most significant steps in project management are the cost management plan. The price of the raw material will be calculated in accordance with the requirement and cost estimate will be a fundamental outline of project management and will be provided during any project planning. We have to measure the values in the production function that we have to process the technique in a distinct manner.

It is possible to plan the cost of any project by mixing the following instances: Production function, Empirical cost inference, Unit costs for bill of quantities, Allocation of joint costs. The production function is the connection between the output and the process that was scheduled according to the user's requirement. The system's execution times are as per the requirement and all the details are checked as per the system requirement and the instructions are executed as per the system requirement.

For developing the action plan for the ALF project, it is decided by the Fred Splient that two months will be needed. Every member in the ALF Project Steering Committee has been assigned the tasks which include the assets required for the project, concern person required for the completion for the project, successors and predecessors and the total cost estimation for the project. Final report will be presented on the 31st of August. The ALF project team will define the measures necessary for opening the facility and estimates the required cost in July. Each member of the group met with its departmental employees to identify what was required.

The chief operating officer spoke to the head of the Dietary Department and asked for a plan to meet all the requirements for the establishment of a resident feeding facility. The chief operating officer then asked the Manager of Facilities to develop an action plan to prepare and manage the building. The Chief medical officer also met with the Medical Director of Rehab Services and his clinical staff to identify the likely healthcare needs of the residents based on the projected population and develops an action plan to prepare for the medical needs of the residents. The Chief medical officer asked the manager of therapy to prepare a plan for the residents to develop social activities.

Every member of the team called for help from the Chief Financial Officer to determine budgets for their action plans. The Chief Financial Officer also had to verify expense and earnings projections from medical center operations as well as project profits and expenditure returns. Chief medical officer has appointed a consultant Dr. Sara Sharf for assisting him in estimating the total budget and cost. She is an expert in developing the project plans for the assisted living facilities and has the five years of total experience in this field.

DrSharf suggested that St. Dismas should target the geriatric middle-income population as there is the largest population close to the region of the upcoming assisted living facility. For estimating the cost and target their focused customer, DrSharf and the market researcher team have done the survey around the upcoming assisted living facility of the middle-income geriatric population to understand the rent they can afford in the facility. Since they have targeted their possible client, they have done the market research to find out the other requirement and expectation from them. They have also pay the visit to the site of the construction and done a meeting with the contractor for the construction. Purpose of this meeting is to finalize the design for the units and other layouts in the facility such as common space for recreation purpose etc. Then the Construction Project Manager has asked and obtained from the building contractor a plan of action and cost estimation for the facility.

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Quality Management
Here we will discuss the hospital-based organization's quality management planning reports on how to provide the correct data in a technical manner. Quality management is the correct way to guide project managers, managers, quality assurance, and project managers. It determines the quality policies and processes for the projects that are accountable for compliance with what and records. At the hospital, all quality management risk and certainty were regarded by the Chief Financial Officer to introduce and create costs and budget. Hospital measurement and quality assurance fit for the organization are the primary objectives of quality management plans. How to process and manage the hospital was an essential component of the process. A total of 100 units are required including 15 to 30 units which will be of highly assisted in nature and the rest units will be comparably light assisted. The facility will also include the kitchen facility for all the residents including the inpatient and the outpatient. A recent study has distinguished two main regions of waste quality and productivity where a high quality of the facility can lead to significantly reduced expenses. High-quality quest offers a reasonable price containment scheme.

Risk assessment and measurement
The main assessment of the risk is assessed by the cost involved in the project. It is very necessary for the project to be complete within the estimated budget and the allotted time line. The facility shall review and update this evaluation annually and there are plans for any changes that would require modifications to any portion of this evaluation. In case of the facility chooses to accept residents with care requirements that have not been earlier accepted, such as inhabitants on ventilators or dialysis, the facility evaluation shall be evaluated and modified to tackle how the facility's employees, assets, surroundings, etc., satisfy the requirements of those inhabitants and any areas that require attention, such as any training or care supplies.(NEJM Catalyst, 2019)

Document management
We handle and store all files linked to the hospital, employees, patient and all department executives in the document management process. This will include the patient medical history, patient details (name, address, age, gender, medications, complications etc.), tests results, allergies, staff record etc. This will also be done by a centralized information system of the facility. (Pamela Wible MD, 2019)

Clinical services
Clinical facilities are a major component of the St Dismass assisted living facility. It covers clinical elements such as enhancement of care, care management, health education for members, healthcare for the geriatric patient, and enhancement of behaviors. (HBS Working Knowledge, 2019)

Quality Assurance
The expression "quality assurance" implies preserving high-quality health care through steady measurement of the efficacy of the organizations that provide it. There are so many other structures for quality assurance, including individual nations, the World Health Organization, and other nations. The Federal Health Research and Quality Agency also provide "Quality Indicators" on a voluntary basis. Efforts to improve quality used by health care organizations are outlined including autonomous performance audits, inner audits, results analysis, consumer reviews, instructions for the sector, and customer satisfaction studies. Highly efficient hospital executives display responsibilities, habits, and a variety of operations that heavily equate with systemic engagement to quality and enhanced results for patient care. Hospital executives have been able to strengthen their efficiency in encouraging and maintaining quality care by strengthening their participation in attempts to improve quality.

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