A special project called “FLYWHEEL” has an estimated cost of $2,000,000. There are three major divisions to this project: Definition of Project, Design, and Implementation.
a. Definition of Project is budgeted at 15% and includes:
i. Project Objectives 5%
ii. Technology 10%
b. Design is budgeted for 25%
c. Implementation is budgeted for 60% and includes:
i. Purchasing: 15%
ii.Retooling: 40%
iii. Training: 5%
d. What are the estimated costs for the following components of the project?
1. Technology
2. Training
3. Retooling