5.6: Instructor Notes and Grading Rubric
- Page ID
- 52233
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)Milestone Purpose (Instructor Perspective)
In Milestone 4, students move from execution planning to financial ownership. The milestone asks them to create a full project budget by:
- Translating effort and structure into labor cost
- Researching and estimating non-labor expenses
- Structuring costs into an organized funding request
- Applying contingency to reflect uncertainty and risk
- Crafting a funding narrative that supports decision-making
This is the first milestone where students must show:
- Budget thinking based on execution logic (not “ballparking”)
- Transparency and traceability of every dollar
- The ability to communicate cost as a story—not just a spreadsheet
Instructor Review Focus
As you evaluate submissions, consider:
1. Cost Completeness and Categorization
- Have they captured all relevant cost-driving elements?
- Are the items categorized logically (labor vs. non-labor, recurring vs. one-time)?
- Do they reflect the scope, sequencing, and structure from Milestones 2 and 3?
2. Estimation Logic and Transparency
- Are labor estimates traceable to Milestone 3 effort figures?
- Are non-labor items priced using sources, quantity logic, or clear assumptions?
- Do totals add up? Are they defensible?
3. Structure and Communication
- Is the budget organized in a clear, stakeholder-facing format?
- Does the contingency reflect project-specific risk—not a padded guess?
- Is the funding narrative professional and persuasive?
Grading Rubric (Total: 100 Points)
| Section | Criteria | Points |
|---|---|---|
| 1. Cost Inputs and Categorization | Includes all labor and non-labor items; uses appropriate classifications (e.g., one-time, recurring, fixed, variable, direct/indirect) | 20 pts |
| 2. Labor Cost Estimation | Uses effort estimates; correct rate logic; shows cost by task/role/phase; assumptions documented | 20 pts |
| 3. Non-Labor Cost Estimation | Itemized correctly; priced using logic or benchmark; assumptions cited; totals accurate | 20 pts |
| 4. Budget Roll-Up and Structure | Subtotals are presented cleanly; categories are logical; contingency is separated and labeled; total budget is clear | 20 pts |
| 5. Contingency & Funding Narrative | Justifies buffer with identified risks; summary is written professionally; explains value of investment | 15 pts |
| Presentation & Professionalism | Document is polished, well-organized, and consistent with prior milestones | 5 pts |
Grading Scale
| Score Range | Grade | Description |
|---|---|---|
| 90–100 | A | Highly professional budget with traceable math, sound judgment, and clear formatting |
| 80–89 | B | Strong submission with solid structure; may include minor errors, unclear narrative, or formatting issues |
| 70–79 | C | Basic completeness; lacks structure, logic clarity, or full alignment with scope |
| 60–69 | D | Budget is incomplete, vague, or based on incorrect application of effort/duration estimates |
| Below 60 | F | Budget is not usable or reviewable; major sections missing or illogical |
Instructor Feedback Prompts
Use these when writing feedback or coaching comments:
- “Consider tying this cost item more clearly to your WBS or role-based effort.”
- “Where did this price come from? Can you cite or explain the source?”
- “Nice breakdown—could you clarify whether this cost is recurring or one-time?”
- “Strong structure—next step might be adding a pie chart or summary page for decision-makers.”
- “Narrative is clear, but what value does this funding unlock?”
Instructor Tips (For In-Class or Review Sessions)
- Use sample budgets (good, better, best) to show formatting and logic in action
- Have students walk through their contingency logic to surface hidden risk
- Encourage peer review on estimation math before submission
- Use narrative sharing in class—"How did you justify your funding request?"