Prepare and illustrate a budget for the project.

1.  Prepare and illustrate a budget for the project. This is done in MS Project, or Project Libre, or an Excel Spreadsheet, or other software, by actually assigning resources (labor categories, material, other expenses) and their costs to the various items of the WBS.  The projected Cash Flow Report (Project Reports Cost Cash Flow) is what MS Project uses as a budget.   Expanded out to whatever timescale is set (days, months, quarters), it’s done by WBS Item.  MS Project then summarizes the data in the Cash Flow Report into another Report called “Budget Summary” (Project Reports Cost – Budget Summary). Check the mpp file you developed in Part 5, Task 3 specifically, in the Cash Flow Report look to ensure that:

(a) You have  Reserves to accommodate risk.  Per the PMBOK (read the definitions), break it into two components: “Management Reserve,” and “Contingency Reserve.”  
(b)  It is time phased (not just a summary)
(c)  Capital Costs are so identified.

Then, print out and show in this document the “Budget Summary” of the mpp file.If you are using equivalent software, such as Project Libre or an Excel Spreadsheet, make sure that the above three issues (reserves, capital costs, and time-phased) are addressed, and paste it in the document.