Cost / Value Analysis
Project cost value management will be essential for the long-term success of both the projects and the Educators for Connecting Research to the Classroom organization. This management will follow a strict schedule of evaluation and cost management entitled "Cost Value Review Using Cost/Schedule Records." It can be outlined in the following manner:
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Project's Planned Value
The goals and objectives of the project will be clearly stated when it is proposed to ECRC. Professionals proposing the project will need to project a long-term value of the project and likelihood of achieving a Level II status.
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Integrated Team Principle Contributions
Each project shall clearly identify in list form the contributions that will be made by ECRC members and members of the proposing team.
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Work to be Accomplished
The project will identify the research outcomes/publications and the product to be produced for K-16 classrooms. The product to be produces will fit into one of the four categories identified on the market analysis page of this plan.
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Statements of Work to be Accomplished
Proposed projects will be required to submit to the following:
- Planning and Benchmarks Chart
- Cost Breakdown Estimate to Complete Work
- Direct Costs - labor, management, travel, purchases
- Indirect Costs - general and administrative
- Schedule and deadlines
- Project Feedback/Evaluation Forms and Research Data Goals
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Submission of Timely Performance Measurements
- Project Status Reports - Planning and Benchmark Chart Requirement: Narrative as related to the Planning and Benchmarks Chart
- Cost Value Breakdown Estimate to Complete Work (CBEC) - Actual Costs (AC) Requirement: AC / CBEC = CV (Cost Value)
- Schedules and Deadlines - Actual Accomplishments Requirement: Schedules and Deadlines Itemized listing including product production
- Project Feedback/Evaluation - Project's planned Value / Contributions to Research
- Requirement: Narrative Summary as related to evaluations, planned value and future directions