Project Budget


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ProjectBudget

CMGT410

Prof. Name

Methodology comes in handy not only in guiding training efforts but also in the development of strategy. To safeguard the success of these two elements, it is imperative that training resources are efficiently used, a task that depends on the addressing of varied issues. Indeed, cultural issues, company policies and infrastructural issues pertaining to the company have to be considered for a seamless training session to take place. Nevertheless, irrespective of the schema selected for training, the clarity of path to users must be safeguarded. The training required by users depends on varied factors including training purpose, system features, users’ background and types of user interfaces among others.

This project comes as an outline pertaining to a presentation that IT and HR professionals gave regarding streamlining the procedures and policies of company so as to have a company-wide compliance system. The head office will implement the training from a central location (main office) that is appropriate for all satellite offices, which not only ensures that it is reachable to managers attending the training sessions but also minimizes costs. The training will take two days with 5-hour periods each.

POTENTIAL STAKEHOLDERS:

Likely stakeholders may include branch managers in satellite offices, members of marketing department, financial department and head office committee members, as well as consumers who will receive better service and stock takers. This is particularly with regard to the increased revenue resulting from the enhanced productivity.

OVERALL OBJECTIVE:

This project aims at offering comprehensive training methodology. It is imperative that we perfectly comprehend the aim and scope of training, implement the training schedule before processing and assessing feedback received from training.

OUTCOMES:

It is expected that the employee performance will increase exponentially due to the training, resulting to enhanced workload efficiency in the same work hours, which will be shown by enhanced revenues.

SUCCESS EVALUATION:

Success is best measured through the assessment of individuals taking the training session. When the evaluation is done prior and following the training session, the trainers will not only have a baseline but also determine the performance gain regarding the results of the training session. Further, feedback enhances future training sessions.

MEASURABLE ORGANIZATIONAL VALUE:

The identification of Measureable Organizational Value of a project necessitates that the HR manager quantifies

  • Training quality

  • Training effectiveness

  • Follow through with job performance records maintenance after training

  • Staff feedback regarding their performance.

ASSUMPTIONS MADE:

The basic assumption is that the office headquarters are in a location central to all satellite offices.

MEMO

FINANCIAL IMPLICATIONS OF TRAINING PROJECT:

The Training Project is allowed to continue with a two-day training of the branch managers of the company regarding the organization’s compliance policies. Varied costs are outlined in the memorandum including the following.

First, there is the trainer’s cost. The average hourly rate pertaining to Training and Development Specialist being $27.56, in which case the total trainer cost is $275.60 ($27.56/hr x 10/hrs). Other additional costs are the travelling expenses for out-of-town managers. The managers will have mileage reimbursed as all live within driving distance. The average driving distance is 75 miles, from the main office. The mileage reimbursement for business travel is $0.55½ / per mile costing an average of $41.63 per manager, which makes the average total cost of $624.45 ($41.63 x 15). Lodging costs are also catered for. With average lodging costs being about $65, per night, per manager, the estimated total lodging costs are $1950 ($65/per night x 2/nights x 15 managers). Reimbursement of meals is also done with receipts to a maximum of $30 per day per manager in which case the total will be a maximum of $900 (up to $30/day x 2/days x 15 managers). Taxi transportation both from and to hotel costs approximately $210 dollars a day, totaling $420 dollars ($210/ day x 2/days).

DURATION ESTIMATES:

As earlier noted, the training is in two parts of 5 hours’ training per day in the head office. The first day will concentrate on basic knowledge of the new IT system, forming the basis for the second day training where the use of the system in real world will be examined.

MILESTONES:

The training session must meet the quality standards set by the company’s quality assurance teams. On the same note, all information that the training experts give the trainings has to be relevant and accurate

COST CARD:

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Assumed City = Atlanta, GA

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Assumed No of Managers = 15

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Labor Costs (estimated)

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Cost

Reference

$

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Trainer`s Charges per hour

US Min Wages

27.56

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No of Hours

10

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275.60

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Travelling Fees (Average)

estimated

41.63

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No of Managers

15

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624.45

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Hotel Charges per night

estimated

65

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No of Managers

15

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No of Nights

2

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1950

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Meal Reimbursement

estimated

900

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Taxi Transportation

estimated

420

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Total

4170.05

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References

Baker, M. B. (2012). 2012 Corporate Travel Index: Abundant Gotel Supply Keeps Atlanta Business Travel Costs in Check. Retrieved from http://www.businesstravelnews.com/Business-Travel/2012-Corporate-Travel-Index–Abundant-Hotel-Supply-Keeps-Atlanta-Business-Travel-Costs-In-Check/?a=btn

Georgia Department of Labor. (2011). Occupational Wages by Alphabetical Listing. Retrieved from http://explorer.dol.state.ga.us/mis/Alpha.htm

IRS. (2011). Standard Mileage Rates. Retrieved from http://www.irs.gov/newsroom/article/0,,id=250882,00.html

Marchewka, J. T. (2012). Information technology project management: Providing measurable organizational value (4th ed.). Hoboken, NJ: Wiley.

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