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Estimating Costs and Allocating Resources

Estimating Costs and Allocating Resources

After researching budget tool, I have found two resources that would be useful in estimating costs, effort, and/or activity duration associated with instructional design (ID) projects. I conducted a search for estimating project costs and budgeting. I found that Microsoft has a lot of very useful tools, including some tips to help prepare a budget. Microsoft did a good job of breaking down a budget including setting pay rates, entering per-use costs, entering fixed costs, setting types of tasks, and assigning resources.

budget

The first website that I am going to talk about is called Project Management Guru. The Project Budget is the time-based spreadsheet that shows the project team’s intent to spend the organization’s resources on project activities. Once the Project Budget is created, the intended costs for each time period are summed in each column. The only thing that I would consider as missing form this resource would be a template. This article takes you step-by-step and includes information on how to create a project budget.

Finally, the website Bright Hub was very useful. Having a sound foundation of the basic concepts is often the best empowerment tool for any undertaking. Otherwise, one could lose track of what’s important and realistic, which are pivotal to every project budget (Levine, 2011). This website provides ways of organizing your budget and templates to help the project manager. The template that is provided seems very basic and easy to use. They have also provided what should and should not be included in the project management budget. The information on this site seems to give the reader a place to get started.

Resources:

“Project Resource/Budget Planning Tools & Techniques.” Project Management Guru. Web. 3 Feb. 2016. http://www.projectmanagementguru.com/resourceplan.html#budget

“Project Management Learning Guide to Budgeting, Costing, Estimating and Controlling.” Bright hub. Web. 3 Feb. 2016.http://www.brighthub.com/office/project-management/articles/75727.aspx

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Author:

I am a Learning Strategy Lead, Project Manager, and Professor at the local college. I teach diverse audiences through in person and online learning environments. I manage projects that Instructional Designers create elessons for and consult on curriculum developments. I look forward to continuing to teach in the future, utilizing my instructional designer skills to help create engaging learning environments.

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