You are assigned your first project and if things go well you should get promoted. The CEO is aware of this project, so you have a chance for high visibility. You want to do a good job! Your first task is to define the wor break down structure by interviewing project activity managers and the firm's friendly, yet boring, accountant to get "good estimates" of project activity times and costs. For one of the activities, the normal time is eight weeks, crash time is four weeks, the normal cost is $7,420, and the crash cost is $17,000. What is the crash cost per week? Round your answer to the nearest dollar. $ per week
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- You are assigned your first project and if things go well you should get promoted. The CEO is aware of this project, so you have a chance for high visibility. You want to do a good job! Your first task is to define the work break down structure by interviewing project activity managers and the firm's friendly, yet boring, accountants to get "good estimates" of project activity times and costs. For one of the activities, the normal time is six weeks, the crash time is four weeks, the normal cost is $7,080, and the crash cost is $16,330. What is the crash cost per week? Round your answer to the nearest dollar. $ per weekYou have been hired by a contractor, who wants you to manage a constructionproject for one of their clients. The project team has been working for twomonths, and is 35% done with the job. Two of your team members come toyou with a conflict about how to handle the ongoing maintenance for a pieceof equipment. You know that they can safely ignore the problem for a while,and you’re concerned that if your project falls behind schedule before nextweek’s stakeholder meeting, it will cause problems in the future. You tell thetwo team members that the problem really isn’t as bad as they think it is, andif they take a few days to cool off about it you’ll help them with a solution.This approach to conflict resolution is known as ______.A. WithdrawalB. CompromiseC. SmoothingD. Forcing You are a project manager for a software project. As you are defining thescope of the work you need to do, you sit down with all of the project’sstakeholders and record all of the requirements you can get from…Your team has already identified the details of the work schedule in a work breakdown structure and visualized these details in a Gantt chart with a critical path. You also used your stakeholder management plan to determine who needs to be informed of progress on the project and when. And you’ve planned out responses to the risks you identified. Now, you must determine the cost to build and operate this store. You must also estimate the costs of the required inventory inside the store and the hiring and training of employees to begin operations. Read Project Cost Estimating and Project Procurement for help in answering this question
- Give an explanation of how earned value management (EVM) may be used to keep expenses under control and monitor the overall effectiveness of a project, and then hypothesise as to why it is not utilised more often. How can one determine if the data for cost variation, schedule variance, cost performance index, and schedule performance index are healthy or unhealthy? What are some basic rules of thumb?You are managing a large construction project that’s been broken down intosub-projects (or phases). Each of these sub-projects is scheduled to takebetween three and six months to complete. At the end of each sub-project,you plan to go through the closing processes and document lessons learned.Which of the following BEST describes what you must do at the beginning ofeach sub-project or phase?A. Develop the preliminary scope statement for the phaseB. Make sure you don’t involve the team, to avoid introducing too much projectmanagement overheadC. Use the Earned Value Technique to decide whether or not to finish the projectD. Release all resources from the project and contact sellers to renegotiate allcontractsOne major source for product changes might be due to cost improvement that could results in a cost-effective change in the product. Choosing a project from the portfolio can be conducted by using SWOT ANALYSIS. No Decision Making Processes is required. True or False?
- You are in charge of implementing the internal website your company will use to display its event calendar. Although you have limited ability to make project choices and must bargain with the functional manager to obtain the resources you need for your project, it is your responsibility to organise activities, resources, equipment, and information on the project. Which of the organisations listed below do you work for? Group of answer choices Composite structure Strong matrix Weak matrix Balanced matrixYou may need to use the appropriate technology to answer this question. The product development group at Landon Corporation has been working on a new computer software product that has the potential to capture a large market share. Through outside sources, Landon's management learned that a competitor is working to introduce a similar product. As a result, Landon's top management increased its pressure on the product development group. The group's leader turned to PERT/CPM as an aid to scheduling the activities remaining before the new product can be brought to the market. The project network is depicted in the following diagram. Start Activity A B с D The activity time estimates (in weeks) are listed in the following table. Optimistic Most Probable Pessimistic E F G H I J 3 3 4 2 7 6.5 4.5 6 2 A 4 B 4 3.5 5 3 10 7.5 6 F 7 E 5 2.5 D H 5 7 6 4 13 11.5 7.5 14 6 6 J Finish (a) Develop an activity schedule for this project and identify the critical path activities. (Enter your answers as a…(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…
- Fred Ridgeway has been given the responsibility of managing a training and development program. He knows the earliest start time, the latest start time, and the total costs of each activity. The information is given in the table. (The Latest start time is not given since you are not being asked to determine the budget based on that.) Using earliest start times, determine Fred’s total monthly budget. Construct a full table to show the correct budget. (This takes up space so start on the left and use both pages or turn the page landscape (wide).) Activity ES(months) LS Time(months) TOTAL COST($1,000s) A 0 - 6 12 B 2 - 3 7 C 4 - 7 6 D 4 - 4 12 E 6 - 5 5 F 12 - 2 5.5 G 11 - 4 8 H 13 - 3 4 I 7 - 6 2 J 7 - 4 6Develop three (3) program proposals that you think can help in improving the Job Satisfaction of employees in your company. (You may develop a new company or use an existing one) Provide the following details: COMPANY NAME: INDUSTRY: NUMBER OF EMPLOYEES: PROJECT NAME: HRM FUNCTION INVOLVED: OBJECTIVES: (at least three) HORT DESCRIPTION/ ILLUSTRATION OF PROJECT: DEPARTMENTS INVOLVED: PROPOSED BUDGET ALLOCATION: PROPOSED BUDGET SOURCING:Your colleague Fatima has been staying late every night to finish an important report for your boss. You know that she has missed a lot of time with her family, but she is a hard worker. She is supposed to be working on the report with her colleague Paul. You know that Paul lets Fatima do all the work and he goes home early. At the end of the week, the report is handed in to the boss and the boss is thrilled. The boss gives a big thank you to Paul and Fatima, and offers to take them both out to lunch to celebrate. What should you do?