5.3: What You Will Submit

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🎯 Purpose of This Submission

In this milestone, your submission demonstrates that you can not only design a great project plan, but also estimate its financial cost responsibly and present it professionally.

You are submitting a cost model that:

Reflects your full execution plan
Applies appropriate estimation methods
Provides clear logic and documentation
Supports stakeholder review and funding approval

This is more than an academic assignment—your submission is your budget justification package. Treat it as if it were going into a live approval meeting with a project sponsor, finance lead, or executive committee.

🗂️ What You Must Include

Your submission must contain the following five structured components, in the order below:

✅ 1. Cost Categories and Input Summary

What to include:

A categorized list of all labor and non-labor cost items
Clear labels for cost types: Labor vs. Non-Labor, Fixed vs. Variable, One-Time vs. Recurring
Classification of each cost (Direct vs. Indirect)
Notes on how the item was identified (e.g., WBS reference, tool usage, stakeholder event)

📘 Deliverable Format:
A well-organized table or matrix

Cost Item	Category	Classification	Description	Source
Business Analyst Labor	Labor	Direct, Variable	60 hours across Weeks 1–3	Milestone 3 effort estimates
Cloud Hosting	Non-Labor	Fixed, Recurring	12 months of platform services	Vendor pricing

✅ 2. Labor Cost Estimation Table

What to include:

Task name or WBS ID
Role performing the task
Effort (in hours) from Milestone 3
Hourly rate per role
Total labor cost
Assumptions or utilization factors (e.g., full-time vs. 50% allocation)

📘 Deliverable Format:
Task-based estimation table

Task	Role	Effort (hrs)	Rate ($/hr)	Total Cost	Notes
Conduct Interviews	Business Analyst	16 hrs	$85	$1,360	Full availability assumed

✅ 3. Non-Labor Cost Estimation Table

What to include:

Item or service
Description of usage
Quantity and unit cost
Duration (if recurring)
Total calculated cost
Source or pricing assumption

📘 Deliverable Format:
Itemized estimation table

Item	Description	Qty	Unit Cost	Duration	Total Cost	Source
PM Software	Project tool license	5 users	$30/mo	6 months	$900	Vendor site pricing

✅ 4. Total Budget and Allocation Model

What to include:

Roll-up of all labor and non-labor costs
Optional: Phase-based, category-based, or deliverable-based views
Clearly labeled subtotals and grand total
Contingency added as a distinct line item (with justification)

📘 Deliverable Format:
Clean, scannable budget summary table

Category	Subtotal
Labor	$42,000
Non-Labor	$10,000
Contingency (10%)	$5,200
Total Budget	$57,200

✅ 5. Contingency and Funding Narrative

What to include:

A brief paragraph (4–6 sentences) that summarizes:
- What your budget includes
- Where uncertainty exists
- What risks justify contingency
- What the funding enables in terms of project outcomes

📘 Deliverable Format:
Well-written paragraph, suitable for executive summary or sponsor presentation

📘 Example:

"This budget accounts for all labor and platform expenses associated with planning, design, build, testing, and transition for the UCMS Clinical Management System. Labor cost is derived from effort estimates built in Milestone 3, priced at blended market rates. Contingency has been included based on risk areas including stakeholder scheduling volatility and third-party vendor delays. This funding request supports a full launch readiness cycle by Q2 and ensures cross-functional delivery with sufficient coverage for training and risk mitigation."

📁 File Organization and Submission Format

Requirement	Details
File Format	Submit in .docx or .pdf unless otherwise specified
File Name	`Milestone4_Budget_YourTeamName.docx`
Document Order	Follow the 5-section structure listed above
Professionalism	Tables aligned, no filler content, executive-ready tone
Consistency	Budget links back to the WBS, schedule, and roles used in Milestones 2 & 3

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