For Week 5 you will continue to develop your project documentation by completing a RACI chart based upon the Week 2 Business Case project. The first part of the exercise will be to fill in the chart provided within the attached RACI template Excel file.

QUESTION

For Week 5 you will continue to develop your project documentation by completing a RACI chart based upon the Week 2 Business Case project. The first part of the exercise will be to fill in the chart provided within the attached RACI template Excel file. This should be completed for all six (6) Key Deliverables for any six (6) of the stakeholders you identified in Week 6 exercise.

The second part of the exercise will be to copy and paste the chart into the Word template provided. The chart should be formatted so that all information is legible and shown within the document. Then, you will draft and explanation/justification of why you made the selections you did for any one (1) of your Key Deliverables (this includes each of the Activities as well).

The third part will be to provide the Types of Costs analysis. Instructions are in the attached document.

Submit only the exercise completed in the Word template (not the Excel file).

ANSWER

RACI Chart Explanation and Justification

In completing the RACI chart for the selected Key Deliverable and associated Activities, it is essential to consider the roles and responsibilities of the stakeholders involved. The RACI chart helps clarify the involvement of each stakeholder in the project by assigning them specific roles for each activity: Responsible, Accountable, Consulted, and Informed.

For the selected Key Deliverable, consider the following

Identify the Key Deliverable: Clearly define the specific outcome or result that is expected to be delivered.

Identify the Activities: Break down the Key Deliverable into smaller tasks or activities required to achieve it.

 Assign RACI roles: For each activity, assign the relevant RACI roles to the stakeholders. Remember, one stakeholder can have multiple roles depending on their involvement in the activity.

 Justify the selections: In the explanation/justification section, provide a rationale for why each stakeholder was assigned a specific role. Consider their expertise, authority, and level of involvement in the activity. Explain how their skills or resources contribute to the successful completion of the activity.

Types of Costs Analysis

In the Types of Costs analysis, you will identify and analyze the various costs associated with the project. This analysis helps in understanding the financial implications of the project and aids in decision-making. Consider the following types of costs:

 Direct Costs: These are costs directly attributed to the project, such as labor, materials, and equipment. Identify and quantify the direct costs involved in executing the project.

Indirect Costs: These are costs not directly linked to the project but still incurred as a result of the project. Examples include administrative expenses, overhead costs, and utilities. Identify and estimate the indirect costs associated with the project.

Fixed Costs: These costs remain constant regardless of the project’s scale or output. Examples include rent, insurance, and salaries. Identify the fixed costs that need to be accounted for in the project.

 Variable Costs: These costs fluctuate based on the project’s scale or output. Examples include raw materials, subcontractor fees, and transportation costs. Identify and estimate the variable costs that will be incurred during the project.

 Opportunity Costs: These represent the potential benefits or opportunities foregone by choosing one project over another. Identify any opportunity costs associated with the project.

In the Types of Costs analysis, provide a breakdown of each cost type and its estimated value. Discuss the significance of each cost type and how they contribute to the overall project budget and financial considerations.

By completing the RACI chart and conducting a thorough Types of Costs analysis, you will have a better understanding of stakeholder involvement and the financial aspects of your project. This information will aid in effective project management and decision-making throughout the project lifecycle.