A big financial institution has hired you as a PM. As a first task, you are assigned to automate an internal functionality in that institution. The project is expected to complete in one year time period. To initiate this project, you need to have a utility software and for the same you issued RFQ. You are well aware of the tools and techniques used in Procurement Management process. One of the vendors has proposed developing the software for PKR 800,000 (the cost for the project is PKR 600,000 and their profit will be PKR 200,000). The maintenance and support charges are PKR 25,000 per month. 1. You have technical team available and to develop this software in-house, it will require five software developers working four months. Salary of each software developer is PKR 50,000 per month. The overhead costs apportioned to the project will be PKR 100,000. Which option will you choose—make or buy? 2. Based on the analysis performed in part 1, if you decide to buy the utility from a vendor, which type of contract is most suitable if the type of work is predictable and the requirements are well-defined and not likely to change? Justify your answer. 3.Summarize Maslow's hierarchy of needs and the two-factor theory. In what ways are they similar and in what ways are they different?
A big financial institution has hired you as a PM. As a first task, you are assigned to automate an internal functionality in that institution. The project is expected to complete in one year time period. To initiate this project, you need to have a utility software and for the same you issued RFQ. You are well aware of the tools and techniques used in Procurement Management process. One of the vendors has proposed developing the software for PKR 800,000 (the cost for the project is PKR 600,000 and their profit will be PKR 200,000). The maintenance and support charges are PKR 25,000 per month.
1. You have technical team available and to develop this software in-house, it will require five software developers working four months. Salary of each software developer is PKR 50,000 per month. The overhead costs apportioned to the project will be PKR 100,000. Which option will you choose—make or buy?
2. Based on the analysis performed in part 1, if you decide to buy the utility from a vendor, which type of contract is most suitable if the type of work is predictable and the requirements are well-defined and not likely to change? Justify your answer.
3.Summarize Maslow's hierarchy of needs and the two-factor theory. In what ways are they similar and in what ways are they different?
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