Evaluate the significance of project management benefits to business and IT projects.


As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint.

You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community.

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Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.

There are many different tools and plans that can be used when managing a project. These tools focus on the scope and needs of the project, communication, risk, schedule, quality, human resources, procurement, and cost. How should each of the project components be integrated?

Can you examine at least three project management software applications describing the features, best uses, weaknesses, cost and adoption in the market?


In this assessment, you use Microsoft Project to create a project budget and a project schedule. You first develop your project schedule. Then, you include the budget for all the project-related costs. You also include tasks for a minimum of five phases in your project schedule, with at least three levels of tasks beneath each of the phases.


Executing the project is the third out of five process groups as defined in the PMBOK® Guide. The PMBOK® Guide defines executing processes as those processes performed to complete the work defined in the project management plan to satisfy project requirements. This is where the work gets done, and knowledge and skill sets are applied. As execution is occurring it is important for the project manager to manage all tasks, schedules, and resources.‹


Complete the following steps for this assessment:

1. Create your project schedule in Microsoft Project. Include tasks, durations, dependencies, resources, and a Gantt chart.

2. Develop a budget in Microsoft Project or Excel that includes the cost for each task, as well as subtotals for each of the five phases and a total cost.

3. Add references to your project budget and schedule, in the Project Plan Template.

4. Submit your final project plan, including your budget and schedule.

Required Resources

Project Cost and Schedule

Project Management Institute. Guide to the Project Management Body of Knowledge (PMBOK® Guide) — Sixth Edition and Agile Practice Guide. Newtown Square. PA. 2017:

Part 1:

Section 6:

“Project Schedule Management,” pages 173-;229.

Section 7:

“Project Cost Management,” pages 231-270.

Managing a project requires specific steps that must be carried out in a certain order. Therefore, you must complete the assessments in this course in the order in which they are presented.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

Competency 2:

Evaluate the significance of project management benefits to business and IT projects.

Explain the importance of a project management plan.

Competency 3:

Explain project management documentation to support business or IT projects.

Develop a project budget.

Construct a project schedule.

Competency 4: Communicate effectively.

Communicate effectively in a professional manner consistent with the standards and conventions of project management.

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