Project Management - Fixer Upper
Project Management - Fixer Upper
Fixer Upper
Renovation of a Single family home
Spartan Women Warriors
March 18-
May 26
2013
Kedara Gouri AvulaSuparna SarkarBernice Azrah
Table of Contents
1. Our team produced
5. Project Assessment
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1. Our team produced
the budget on time and in full using all the available resources.
The project was a success as all the basic requirements are fulfilled. The
We used Microsoft Project to do our WBS and it was helpful in allocation and
planning.
The cost control on a project, the renovation plan and the associated cash flow
estimated provides the baseline reference for subsequent project monitoring and
for the assessment of financial performance during the project. Costs are within
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the detailed cost estimate, so the project is within the investment received by our
aunt. Expense incurred during the planning and control focuses upon the
categories included in the final cost estimation. For control and monitoring
purposes, the original detailed cost estimate is to the project budget was
$40,000.00 to be used for total cost for all items, maintenance and repair for the
renovation. Expenses incurred during the course of the project are recorded in
home and also estimated the home’s monthly rent. In addition to cost amounts,
information on material quantities and labor inputs within each job account is also
typically retained in the project budget. With this information, actual materials
usage and labor employed for repair on window, backyard are estimated in the
discrepancies between the plan and the realization occur, the project schedule
and cost estimates was modified to reflect new changes that incurred. We
activities are also likely to be delayed unless managerial changes are made.
project plan. In essence, duration and cost estimates for future activities should
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be revised in light of the actual experience on the job. Without this updating,
project schedules slip more and more as time progresses. To perform this type of
resources required for each activity, and even changing the project network logic
(by inserting new activities or other changes) should all be easily accomplished.
included Loan, Cash Flow and Investment for the home purchased. Below is the
financial information.
Loan received shows below our monthly payment over a year period.
$154,900. Monthly
Amount $704
00 Payment
Interest
3.60% Monthly Rate 0.30%
Rate
Term (Year) 30
Months
Beginning
(over a Payment Principal Interest Ending Balance
Balance
year)
1 $704 $242 $457 $154,900 $154,685
2 $704 $243 $456 $154,685 $154,442
3 $704 $243 $456 $154,442 $154,199
4 $704 $244 $455 $154,199 $153,955
5 $704 $245 $454 $153,955 $153,710
6 $704 $246 $454 $153,710 $153,464
7 $704 $246 $453 $153,464 $153,218
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8 $704 $247 $452 $153,218 $152,971
9 $704 $248 $451 $152,971 $152,723
10 $704 $249 $451 $152,723 $152,474
11 $704 $249 $450 $152,474 $152,225
12 $704 $250 $449 $152,225 $151,975
Cash Flow below shows our monthly expenses and revenues for each month over a
year period.
Cash Flow is by quarter over 1 year.
Transaction Type Jan - Mar Apr – Jun Jul - Sep Oct - Dec
Bank Account Balance $27,117.06 $16,367.32 $8,187.16 $4,152.58
Monthly pay check $12,500.01 $12,500.01 $12,500.01 $12,500.01
($2,112.75 ($2,112.75
Rent or Mortgage ($2,112.75) ($2,112.75)
) )
Bank Account Start $1,500.00
Homeowners Insurance ($150.00) ($150.00) ($150.00) ($150.00)
Taxes ($3,500/12) ($875.01) ($875.01) ($875.01) ($875.01)
Car Insurance ($330.00) ($330.00) ($330.00) ($330.00)
Cable/Internet ($240.00) ($240.00) ($240.00) ($240.00)
Cell Phone 60*3 $180.00 $180.00 $180.00
Food $1,580.00 $895.00 $435.00 $205.00
Gas-Car $436.00 $238.00 $123.00 $55.00
Electricity $435.00 $225.00 $130.00 $55.00
Water $420.00 $230.00 $150.00 $40.00
Maintenance $105 $105 $105 $105
Payment to aunt $1,500.00 $1,500.00 $1,500.00 $1,500.00
Other $2,250.00 $1,300.00 $650.00 $300.00
The investment indicates the Net Present Value of the loan amount received from our
aunt discounted at rate 3.60% over 5 years period. This investment also shows that the
loan amount provided by our aunt to purchase our house is a great investment because
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$350,000.0
Investment 0
Year 30
Monthly 360
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Principal
Add: Total Cost of $20,150 - - - -
Repair/Maintenanc
e
Add Backyard $500
Renovation
5. Project Assessment
Our assessment process is designed to allow us to a do a "deep dive" into your project,
laying groundwork for obtaining buy-in to the assessment results, while minimizing any
collect pertinent information that will be used in our assessment, reviewing and
analyzing the materials needed to fix the foreclosure house that we bought. We created
a set of preliminary focus issues, which guided us the interview to process the project
plans, design, standards, and estimated cost for fixing the home; included dog to keep
gophers out of our property. For items needed for renovation, such as paints, roof
During the project assessment, the risk encountered was how to chase away gophers
that are destroying the yard away. Knowing the law, we can’t endanger animals, even
though they are on our properties. We decided to put animal traps to catch them,
however, it would be a lot of work for us to everyday check whether we did catch any
gopher or not. The other option was to buy a decoration fountain to put on whole made
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by gophers. This option was not efficient because it won’t stop them destroying our yard
and it costs money. So, we decided to go with the options to have dogs get rid of them.
Working according to the time and finishing the project in appropriate time limit.
Paint moldings, skirting & Shelves before they are fixed on.
Appearance - Contrast, proportion and balance that elevate the look of house
which help in attracting the house in first look, mainly at the time of sale.
Car Shade -There was no garage and if we had budget left we could have built a
car shade that can protect the cars from snow and hot sun.
Mini play ground - As we have kids, it would be good to have a mini playground
with swings and slides for children to have fun. We could have done if we have
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Bird feeder - Welcome birds to your backyard is a friendly and natural way to get
rid of insects and to get a beautiful look. and can also cover the gopher holes.
Tree House - Kids will have fun in a tree house in the back yard. This can be
about the successful completion of our project goals(renovation of a house within the
The project manager for this project .i.e Ms Kedara Gouri Avula, was appointed
Ms. Avula proved to be a very good team lead. She managed, monitored,
controlled and executed all the processes and resources very well within the given time
Definitely yes!
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Our team worked much better than that was expected. We had very good co-
ordination, understanding and integration. We shared the work equally and enjoyed
We did not have an official sponsor, mainly because it’s not a real time project.
But in this imaginary project we do have a sponsor Aunt Julie. We, however, will be
References –
http://homerenovations.about.com/od/planningtorenovate/a/artremodelproce.htm
http://www.consumerbuild.org.nz/publish/reno/renovations_building_.php