Project Schedule and BudgetA project plan cannot be considered complete until the resources have been assigned (including budget and cost estimate). This week, you will assign the resources required to work on your project to your scheduled tasks. In addition, you will add the cost of the resources per hour and any direct or indirect cost required for project contracts, materials, or supplies.You will submit a two-part summary report (business professional format) of your project budget and resources, which includes the following:Part 1: Project Budget (Cost Management)Explain your approach to estimating the project cost (e.g., top down, bottom up, etc.) and why that method was chosen.Create a table that shows the original budgeted cost (from the charter) and the actual budgeted cost (side by side). Include line items for labor, materials, contract, equipment, travel cost, and so on.Compare the budget from the charter to the final budget and explain any variances that occurred from your original budgeted cost in the project charter and the current project cost (include your original estimated cost for the project).Explain your budget contingency plan and how much is budgeted for contingency.Part 2: Resource ManagementExplain the results of your resource assignments. Did you assign enough people to the project? Were there any resources over-allocated? What approach will you take to fix any allocation problems?Develop a plan to manage your project team and define how you will motivate your team and how you will handle team conflicts.What structure would you select for your project: functional, weak matrix, balanced matrix, strong matrix, or pure project? Why?Deliverables for Week 6:MS project file (.mpp) updated with resource assignments and costMS Word file with report of project budget and resource managementStatement of Participation and status updateWeek 7Back to TopDue Week 7: Communication PlanAccording to the PMBOK® Guide, “the Communications Planning process determines the information and communications needs of the stakeholders; for example, who needs what information, when they will need it, how it will be given to them, and by whom.” In other words, it lists the general communication requirements for the project. This week, you will create a simple communication plan for the execution of your project. Each team will need to complete the Communications Plan found in Doc Sharing.Deliverables for Week 7:Communication PlanStatement of Participation and status updateWeek 8Back to TopDue Week 8: Final Project PackageYou will need to create a project plan. This plan should be completely integrated and presented in a logical order. It should be written professionally and should be mistake-free in terms of spelling and grammar. The final project plan should incorporate any changes that occurred along the way, including corrections and advice given by colleagues or your professor. Any tables or graphs should be labeled correctly.Deliverables for Week 8:Statement of Participation and status updateYour final project plan should consist of the following items.Executive SummaryProject CharterScope StatementWork Breakdown StructureRisk Management PlanSchedule and BudgetCommunication Management Plan