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:

• 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.

• 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.

• 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.

• Statements of Work to be Accomplished

  Proposed projects will be required to submit to the following:
  1. Planning and Benchmarks Chart
  2. Cost Breakdown Estimate to Complete Work
     • Direct Costs - labor, management, travel, purchases
     • Indirect Costs - general and administrative
  3. Schedule and deadlines
  4. Project Feedback/Evaluation Forms and Research Data Goals

• Submission of Timely Performance Measurements

  1. Project Status Reports - Planning and Benchmark Chart Requirement: Narrative as related to the Planning and Benchmarks Chart
  2. Cost Value Breakdown Estimate to Complete Work (CBEC) - Actual Costs (AC) Requirement: AC / CBEC = CV (Cost Value)
  3. Schedules and Deadlines - Actual Accomplishments Requirement: Schedules and Deadlines Itemized listing including product production
  4. Project Feedback/Evaluation - Project's planned Value / Contributions to Research
  5. Requirement: Narrative Summary as related to evaluations, planned value and future directions