InstructionsAssessing RiskBased on the project scenario chosen in Unit I, you will continue to build your simple project plan.As a reminder, you should have completed Section 1, 2, and 3 thus far. You
Unit VI: Project Budget
Rebecca Parks
Unit VI: Project Budget
Project Resources
The major resources required in this project include the team that is supposed to execute the project, the materials necessary for initiating the social entrepreneurship and the talent identification, and the capital that is meant to implement the project. They form the direct costs that the project incurs during the whole execution process.
Other Costs
Other costs to be incurred by the business include the overhead operating expenses which include the utilities to be used by the project, venue leasing fees, and the materials to be consumed during the events. Also, the total annual estimated annual salaries of the employees working to implement the project.
Cost Estimated
Our project is at the beginning stage. However, with all the objectives that we intend to fulfill over the years, we have been able to estimate our expenditure to amount to $1 million. With the contributions that we have been able to get from the project control support, our total estimate comes to about $1.5 million.
Final Estimated Project Budget
| Project Budget Template | Worker | Hourly Rate | Estimated Time | No. of Units | Price/ Unit | Planned Budget | Actual Expenses | Difference Between Budget and Expenses |
| Scholarship for doctors | Johnson Linn | 45 | 200 | 200 | 2, 000 | 400,900 | 426,125 | 25,225 |
| Scholarship for health science students | Arthur Stark | 40 | 250 | 100 | 15,000 | 160, 200 | 185, 425 | 25,225 |
| Talent identification and nurturing | Thomas Denis | 40 | 300 | 100 | 3,000 | 312, 000 | 337, 225 | 25,225 |
| Social entrepreneurship | Austin Clark | 50 | 300 | 10 | 50,000 | 515, 000 | 540,225 | 25,225 |
Total 1, 500, 000
