Cost Estimation and Budgeting: Artisan Café Marketing Project

Essay Instructions:

Instructions
Cost Estimation and Budgeting
In this unit, you are required to complete the Project Budget section of the project plan. Refer to your unit lesson and required unit resources to advance your project plan. You may also need to revisit the Unit V Lesson. For this assignment, create the components listed below.
Project Budget: Include cost estimation and project budget. Include direct and indirect costs, recurring and nonrecurring costs, and any expedited costs.
5.1 Project Resources: Identify all project resources. Develop a cost table for all project resources.
5.2 Other Costs: Identify all significant costs for materials (e.g., equipment, overhead, expediting).
5.3 Cost Estimates: Submit ballpark, comparative, and feasibility estimates. Show all information gathered to support these estimates.
5.4 Time-Phased Budget: Include estimated expenses for duration increments (e.g., days, weeks, and quarters).
This assignment should be a minimum of two pages in length, not counting the title page and reference page. Be sure to use proper APA formatting. Citations are not required; however, if outside sources are used, make certain to provide in-text citations and references in APA format.

Essay Sample Content Preview:

Artisan Café Marketing Project
Name
Department, Institution Affiliation
Course Code; Course Name
Instructor's Name
Date
Artisan Café Marketing Project
Cost Estimation and Budget
A project budget is necessary for the Artisan Café project due to the specific online and offline activities. A reliable budget would make the project qualitative and timely. Besides, a reliable budget would reduce the project completion time, which should be achieved within two months. The budget should also consider the miscellaneous activities to minimize contingent issues. Consequently, the budget would consider all the elements the expedited, non-recurring, recurring, indirect, and direct costs.
5.1 Project Resources
The Artisan Café project requires specific, highly advanced project resources to attract more customers. The resources are critical since they will determine the success of the project. The project will majorly consider marketing resources due to traditional and online marketing activities. Therefore, the resources must achieve marketing goals by converting leads to consistent customers. Besides, the project resources must meet cost standards for effective project completion.
Table 1: Artisan Café Marketing Project Cost Table
Resource

Initials

Type

Maximum %

Standard rate

Overtime rate

Total Cost $

Project Sponsor

PS

Labor

100

$15.00/hr

$47.00/hr

120

Project Manager

PM

Labor

100

$15.00/hr

$47.00/hr

120

Quality Manager

QM

Labor

100

$15.00/hr

$47.00/hr

120

Marketing Manager

MM

Labor

100

$15.00/hr

$47.00/hr

120

Quality Director

QD

Labor

100

$15.00/hr

$47.00/hr

120

Offline Marketing Leader

OML

Labor

100

$14.00/hr

$47.00/hr

112

Online Marketing Leader

OML2

Labor

100

$13.00/hr

$47.00/hr

104

Marketing Team

MT

Labor

100

$10.00/hr

$47.00/hr

80

Mobile devices

-

Material

-

-

-

3000

Traditional marketing resources

-

Material

-

-

-

4000

Total Cost

$7,896

5.2 Other Costs
Material costs are essential for the Artisan project since they determine project quality and completion time. Artisan project considers reliable and applicable materials for achieving an effective marketing process. The materials costs are divided into specific sections in table 2 to make it easy to establish a reliable time-phased budget for the project.
Table 2: Other costs
Cost type

Direct Costs

Description

Total $

Salaries

5600

Data center space

1200

Indirect Costs

Marketing Campaigns

4500

Office technology

10000

Updated on January 26, 2024

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Cost Estimation and Budgeting: Artisan Café Marketing Project

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