It is the challenge to achieve the project goals within the given constraints in a project. There are various challenges in project management such as time, scope, quality and budget as the major constraints. Among these constraints, cost management is not an easy task, especially when a project goes through multiple changes throughout its lifetime. Any change within the project directly affects the cost in terms of time and budget.
It is the major duty of the project manager to analyze the cost, manage it and allocate the resources to make the project successful. Cost Management is the process that involves projecting, allocating and controlling the projected cost throughout the project. The clear cost management ensures in decision making and enables to compare the estimated cost with the actual cost and determine the cost-benefit of the project.
Let's take an example to analyses the cost to host the web application and Amazon RDS hosted database with the following requirement at the premise and compare with that of the cost in the Amazon Web Service (AWS) environment.
Service
Requirements
Amazon Elastic Compute Cloud
(Amazon EC2)
· Two Linux t3.2xlarge instances 20 hours per day usage
· 1-Year Reserved billing with no upfront costs
Amazon Simple Storage Service
(Amazon S3)
· 100 GB Standard storage
· 10,000 PUT, COPY, POST, or LIST requests
· 5,000 GET, SELECT, and other requests
· 1 GB data returned by S3 Select
· 10 GB data scanned by S3 Select
· Amazon S3 data is replicated to US East (Ohio) to S3 Standard storage
Elastic Load Balancing
· Three Application Load Balancers
· Average of 50 connections/second per Application Load Balancer
· Average connection time is 60 seconds
· Average of 100 requests per second for each Application Load Balancer
· Data processed per Application Load Balancer for
· EC2 instances with IP address as targets is 100 GB/month
· The average number of rule evaluations per request is 10
Amazon Route 53
· Five hosted zones, not using traffic flow
· 10 million standard queries per month
· 10,000 basic Domain Name System (DNS) health checks per month within AWS
· 20,000 basic DNS health checks per month outside of AWS
· 10 elastic network interfaces
· Average of 2 million resolver queries per month
Amazon Relational Database
Service (Amazon RDS)
· Two RDS db.r3.8xlage standard instances that run MySQL
· 100 GB of General Purpose storage and no Provisioned IOPS
· 30 GB of data transferred out per month and 5 GB of data transferred in
AWS Support
· Business Support
This can be done using the inbuilt AWS Total Cost of Ownership (TCO) Calculator in the link: https://awstcocalculator.com/# that enable to compare various AWS services and resources at various location. It also enables the comparison of physical machines hosted in the premise with the virtual machine hosted at the AWS environment that gives a clear picture of the cost involved and automatically compares the cost involved.
Besides these cost comparisons, it also offers compares the various services required to run the system effectively and efficiently.
Here is the estimation of the above system hosted in the AWS environment. This calculation can be done through the link below:
In conclusion, AWS offers the user friendly and effective tools to compare and contrast the cost involved to host any web system in-premise or at the AWS environment. That gives a clear analysis of the cost and facilitates the Project Manager to make the decision effectively and efficiently.
References
Amazon Web Services, Inc. or its affiliates. (2020). AWS Total Cost of Ownership (TCO) Calculator . Retrieved from AWS: https://awstcocalculator.com/#
Amazon Web Services, Inc. or its affiliates. (2020). Simple Monthly Calculator. Retrieved from AWS: https://calculator.s3.amazonaws.com/index.html
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