Tony Prince and his team are working on the Recreation and Wellness Intranet Project. They have been asked to refine the existing cost estimate for the project so they can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $200,000.Tasks1. Prepare and print a one-page cost model for this project using spreadsheet software. Use the following WBS, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $100/hour for the project manager and $60/hour for other project team members. Assume that none of the work is outsourced, labor costs for users are not included, and there are no additional hardware costs. The total estimate should be $200,000.1. Project management2. Requirements definition3. Web site design3.1 Registration for recreational programs3.2 Registration for classes and programs3.3 Tracking system3.4 Incentive system4. Web site development4.1 Registration for recreational programs4.2 Registration for classes and programs4.3 Tracking system4.4 Incentive system5. Testing6. Training, rollout, and support2. Using the cost model you created in Task 1, prepare a cost baseline by allocating the costs by WBS for each month of the project.3. Assume that you have completed three months of the project. The BAC was $200,000 for this six-month project. You can also make the following assumptions:PV = $120,000EV = $100,000AC = $90,000a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?c. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?d. Use the SPI to estimate how long it will take to finish this project.e. Sketch an earned value chart using the preceding information. for more information on Tracking system check on this:https://en.wikipedia.org/wiki/Vehicle_tracking_system
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