What term is used to describe the checkpoints (Go/No-go decision points) that occur during a project that also represent critical success factors (CSFs) for the project? Question 14 options: Work Breakdown Structures Variance Reports Feasibility Studies Project Milestones
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What term is used to describe the checkpoints (Go/No-go decision points) that occur during a project that also represent critical success factors (CSFs) for the project?
Question 14 options:
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Work Breakdown Structures |
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Variance Reports |
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Feasibility Studies |
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Project Milestones |
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- Problem Statement: Project Control and Monitoring You are working on a manufacturing project having a budget of PKR 3,600,000 and expected time of its completion is one year. There is an ideal condition that your budget and work are evenly spread across the duration of the project that is twelve month. At the end of forth month, the senior management has called a meeting and invited all the stakeholders to brief about the status of the project. You being the PM of this project is giving the presentation to all the attendees and informed that project is on schedule and PKR 1,800,000 have already been spent on the project. Required: Calculate Cost and Schedule Variance What is SPI and CPI of the project? Estimate at completion and Estimated time to complete?Stinnett Transmissions, Incorporated, has the following estimates for its new gear assembly project: Price $1,220 per unit; variable costs = $3.75 million; quantity = 90,000 units. Suppose the company believes all of its estimates are accurate only to within ±15 percent. What values should the company use for the four variables given here when it performs its best-case scenario analysis? What about the worst-case scenario? Pls don't copy answer i give up voteUnlike management reserves, contingency reserves are not likely to be spent and are not part of the project's budget baseline, but they can be included in the total project budget. Question 29 options: True False
- Once the project starts, Cumulative Budgeted Cost (CBC) will periodically be compared to the: to-complete performance index forecasted costs at completion cumulative actual cost none of the aboveWhich of the following are contractual terms (Select all that apply) NDA MOU LOI MAO CCB Communication can include which of the following Kick-off meetings Listening Outward E-mail All of the above Risk activities should be assigned To a team After a trigger occurs Without being added to the Risk Register To a single person In priority order What does CV stand for and what does it mean? (Select all that apply) Cost Variance, calculated EV – AC Continuous variability, measure of process Cost Variance, <1 is over budget Cost Variance, >1 is over budget Cost Variance, calculated AC – EVWhat is Open System Task Analysis (OSTA)?
- Three point estimates and bottom up estimating are used in developing: (select one correct answer) Schedules Risks Cost estimates ScopeCASE SCENARIO: SALES DEALERSHIP DILEMMA Mark has recently been promoted to manager of a large car dealership. He is happy for the promotion and confident that he can succeed, however, in discussion with his wife, he admitted to experiencing stress due to the recent change and the demands of the new position. Late one afternoon, Gabrielle a newly recruited salesperson came to his office with a complaint about something she says really bothers her. Ever since her recruitment, she has been heckled by her male co-workers, who do not believe a female is suitable for the job, in fact, there have been snide comments about the reasons for her selection. Mark is aware of the challenge and admits that her employment constitutes a significant change in the organization. He informed her, that in its 30 years of existence, females have only been hired for administrative roles but never as salespersons. He however assured her, that her performance would be the deciding factor and hastened to…evaluate the ways in which time and quality effect the cost of a project
- 3. General Construction Company General Construction Company has a contract to build three lower‐income apartment buildings for the city of Santa Fe, New Mexico. During the construction of the first building, the Project Manager formed an auditing team to audit the construction process for each building. He asked the team to develop a list of minimum requirements for the projects and use this as a baseline in the audit. While reviewing the contract documents, one of the audit team members found a discrepancy between the contract minimum requirements and the City’s minimum requirements. Based on his findings, he has told the project manager that he has decided to contact the city administrator and discuss the problem. Question: If you were the project manager, how would you handle this situation? How can a customer be assured of satisfactory project completion?A company is willing to develop their rocket before the end of current financial year which is now 28 weeks away. The chief engineer of the company has decided to use PERT technique in order to plan, schedule and control program of development for the data given in table below. What is the probability that the program will be completed by the end of the current financial year? (all durations are in weeks). (i) G) Optimum Duration Most likely duration Pesimistic duration 1 2 3 8 13 3 2 8 4 3 8 10 4 7 10 3 6. 3 8 4 9 10 4 8. 4 9. 5 7 9. 12 6. 5 11 7 9. 14 8 4. 00 2.10.6 This optional problem requires knowledge of statistics. Heywood Home Healthcare is evaluating a project with the following net cash flows and probabilities: Time 0 Year 1 Year 2 Year 2 Year 3 Year 4 Prob = 0.2 ($100,000) 20,000 20,000 20,000 20,000 30,000 Prob = 0.6 ($100,000) 30,000 30,000 30,000 30,000 40,000 Prob = 0.2 ($100,000) 40,000 40,000 40,000 40,000 50,000 The year 5 values include salvage value. Heywood’s corporate cost of capital is 10 percent. What is the project’s expected NPV on the basis of the scenario analysis? What is the project’s standard deviation of NPV? Assume that Heywood’s managers judge the project to have lower-than-average risk. Furthermore, the company’s policy is to adjust the corporate cost of capital up or down by 3 percentage points to account for differential risk. Is the project financially attractive?