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- Two new Internet site projects are proposed to a young start -up company. Project A will cost $250,000 to implement and is expected to have annual net cash flows of $75,000. Project B will cost $150,000 to implement and should generate annual net cash flows of $52,000. The compnay is very concerned about their cash flow. Using the payback period, which project is better, from a cash flow standpoint?(a) Why is it necessary to track Actual and Committed costs AFTER a project begins? (b) What does it mean when a Cost Variance is Negative, is this good or bad from a PM’s perspective? (c) How do Program Risks change as a Program progresses? (d) As the Program manager, what post-project information could be collected that could affect future projects? (e) When would it be smart to terminate a Program before its contractual conclusion?2. Assume the founders weigh a project ’ s NPV twice as much as both obtaining/retaining a leadership position and making use of the Internet. Use the weighted factor scoring method to rank these projects. Which projects would you recommend Handstar pursue?
- 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 construction project that is currently being initiated. Youmet with the sponsors and several important stakeholders, and have startedto work on the preliminary scope statement. You’ve documented several keyassumptions that have been made, and identified project constraints andinitial risks. Before you can finish the preliminary scope statement, you mustmake a rough order of magnitude estimate of both time and cost, so that thesponsor can allocate the final budget. What’s the range of a rough order ofmagnitude (ROM) estimate?A. (-10%) to +10%B. (-50%) to +100%C. (-50%) to +50%D. (-100%) to +200%You are working with potential sponsors to determine which project yourcompany will pursue. Based on the benefit-to-cost (BCR) ratios, which of thefollowing four projects should you recommend?A. Project A has a BCR of 5:2B. Project B has a BCR of 5:4C. Project C has a BCR of 3:1D. Project D has a BCR of 2:1 What are the 5 kinds of power?A. Legitimate, expert, reward, political, and bargainingB. Legitimate, expert, reward, referent, and punishmentC. Legitimate, expert, reward, political, and punishmentD. Legitimate, expert, reward, economic, and bargaining
- List the 5 steps of the planning approach. Reference: Managing Successful Projects with Prince2 2017 6th Editionbriefly explain the difference between the main features of Enlightened planning approach and IRM Risk Management standard (with regards to the concept stage of project lifecycle). Show the understanding of the four frameworks and their inter relevance.The following is a table of activities associated with a project at Rafay Ishfaq's software firm in Chicago, their durations, what activities each must precede and the crash cost to reduce duration per week Activity Duration (weeks) Precedes Crash Cost/Week A (start) B C E F (end) 3 2 4 1 4 Activity B, C E F F Suppose that Ratay is only given 9 weeks (instead of 11) to complete the project. By how many weeks should each activity be crashed in order to meet the deadline? Assume that you can crash an activity down to D weeks duration A B C $380 $130 $240 $150 $420 Each Activity Should be Reduced BY (weeks) week(s) week(s) week(s)
- The process of developing methods for responding to project risks is called: a. Plan risk reactions. b. Plan risk responses. c. Plan risk monitoring. d. Plan risk management. e. Plan risk mitigationA recent IBM research of 585 mobile application developers and managers revealed that just one-third of projects met their budget, schedule, and objectives. What are the risks, therefore, for companies like FIMC that rush to market with innovative mobile applications?Use the information in this table to calculate the weighted score for project 2 Criteria Weight Project1 Project2 Project3 Project4 Supports of key business objectives 5% 90 90 50 20 Has strong internal sponsor 10% 70 90 50 20 Has strong customer support 5% 50 90 50 20 Realistic level of technology 10% 25 90 50 70 Can be implemented in one year or less 30% 20 20 50 90 Provides positive NPV 10% 50 70 50 50 Has low risk in meeting scope, time, and cost goals 30% 20 50 50 90