During the project initiation and planning phase, which of the followingactivities is undertaken? *New system requirements are identifiedO A formal, preliminary investigation is undertakenA presentation of why the system should or should not be developed by theorganization is givenBoth B and C

All projects are made for some reason. Someone recognizes a requirement or an opportunity and…

Answered: During the project initiation and…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

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Problem 1CE

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Q A project manager is faced with two team members who have conflictingopinions. One team member explains her side of the conflict, and presents apossible solution. But before the other team member starts to explain his sideof things, the project manager says, “I’ve heard enough, and I’ve decided to gowith the solution I’ve heard.” This is an example of _____. Q As you determine the requirements, constraints and assumptions for theproject you record them in which document?A. Project Scope StatementB. Project Management PlanC. Project CharterD. Communications Management Plan
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The ideal outcome of the planning process group is to complete a project successfully by delivering the agreed-upon project scope within time, cost, and quality constraints Select one: True False Initiating involves developing a project charter, which is part of the project ______ management knowledge area. Select one: a. scope b. risk c. communications d. integration Estimate activity resources output Select one: a. Activity list, activity attributes, milestone list, project management plan updates b. Project schedule network diagrams, project documents updates c. Activity resource requirements, resource breakdown structure, project documents updates d. Schedule management plan As time progresses, the scope of a project should become ... Select one: a. more clear and specific b. more vague c. more ambiguous d. more difficult
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Part (a). One of the essential steps of the system development life cycle is preparing feasibility studies, including technical, economic, legal, operational and schedules feasibility. We have discussed these feasibilities in the interactive tutorials in details. Discuss these feasibilities briefly. And elaborate cost-benefit analysis under economic feasibility. [Word Limit: Up to 200 words] Part (b). The system experts perform the design and implementation phases of the system development life cycle. However, the accountant’s role in these phases cannot be ignored. Comment on the statement. [Word Limit: Up to 150 words]
(12) Cost budgeting can be best described by which of the following? A The process of developing the future trends along with the assessment of proba bilities, uncertainties, and inflation that could occur during the project B. The process of assembling and predicting costs of a project over its life cycle C. The process of establishing budgets, standards, and a monitoring system by whi ch the investment cost of the project can be measured and managed D. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis (13) The process of monitoring the status of the project to update the project costs and managing changes to the cost baseline is called A Determine Budget B. Control Costs C. Estimate Costs D. Plan Cost Manag ement (14) Cost Variance (CV) is which of the following equations? A CV = EV - PV B. CV = EV - AC C. CV = EV / AC D. A and c (15) To assist in budget control, it is suggested that an estimate be created at the level of the…
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During the project initiation and planning phase, which of the following activities is undertaken?* O New system requirements are identified A formal, preliminary investigation is undertaken A presentation of why the system should or should not be developed by the organization is given