Prepare a project charter for the Fixer Upper Project. Assume the project will take six months to complete and cost about $350,000 (or agreed upon price), that you estimate you will spend $40,000 for renovations. The first three months of the project will involve finding and closing on the property, and the last three months will involve fixing up the property, finding renters (preferably two renters), and preparing financial information for you and your aunt. Assume the project starts on October 1 and finishes on April 1. Recall that the main project objectives are to find and renovate a house that your Aunt Julie would own but you would live in and be able to rent out one to three rooms. Julie has also agreed that she will let you earn equity on the house. As she has said to you a few times, “Pretend I’m your banker, and it’s your home.” You will do all of the renovation planning work, including creating detailed cost estimates for all of the renovations, preparing a detailed schedule for the renovations, overseeing renovations, preparing a rental agreement and a strategy for finding renters, and creating a spreadsheet to analyze your “mortgage” payments and other financial information. Use the project charter template provided on the companion Web site, and review the sample in the text.

Use the WBS you created earlier, the milestone list you developed in numbers 2 above, and the new information provided to create an initial Gantt chart and network diagram in Project 2010 for the project. Create one Gantt chart for the actual fixer upper project, assuming a start date of October 1 and end date of April 1. Create a second Gantt chart for your team to do this case study, including all the project management tasks and the dates of your class for them. (You will break down the renovation work in more detail in the Executing part of this project.) Estimate task durations and enter dependencies, as appropriate. Print the Gantt chart and network diagram.