Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Analyse the significance of gearing and insolvency for project cost management?
Evaluate labour cost as a major project cost?
Describe, in detail, the advantages of using project management software?
Distinguish between the Predictive and Iterative life cycle of a project?
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- How can you determine the appropriate SPI approach for your business and project? What are its pros and cons?arrow_forwardhi can you help me finding a positive risks other than increased attendance for Organising a fan convention at a university. This could be to organise an event/concert that could connect students/staff with a celebrity of their liking. Use the probability/impact matrix and place all risks there For 5 risks, from different boxes, explain in detail why you think they have that level of probability and impact on the project. • Response strategies and specific response actions• Use the simplified risk register provided in the lecture and seminar• For 5 risks, propose a response strategy AND specific response actions for each of these. • At least one of these 5 risks should be a positive risk I just need one positive risks Thanks in advancearrow_forwardIn the Atkinson model of project success, stakeholder benefits NOT accrued by the organization might include: Group of answer choices Improved effectiveness. Improved efficiency. Social and environmental impact. Increased profits.arrow_forward
- What is the role of the project leader in a predictive project team and an agile project team, respectively?arrow_forwardYou are conducting a small IT project. The duration of this project is 30 days, and you have allocated $60,000 for it. Your manager asked you to check how the project is doing financially at the end of day 25. You have spent $40,000 and completed 95% of the work. Calculate the following values for the project so far. The cost variance (CV). The cost performance index (CPI). How is the project doing, is it under budget or over budget? Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?arrow_forwardAny project's success hinges on accurate cost assessment. Explain the various tools and approaches that are used in the cost estimate process.arrow_forward
- As the project Manager of a Special Project you and your team are receiving the performance metrics of your project. The planning/accounting manager offers the chart below for the team to analyze. a)Based on the data provided, finish by filling in the values of CV/SV?CPI and SPI in the chart. explain what you will tell your maager about the status of the project.arrow_forwardYou are conducting a small IT project. The duration of this project is 30 days, and you have allocated $60,000 for it. Your manager asked you to check how the project is doing financially at the end of day 25. You have spent $40,000 and completed 95% of the work. Calculate the following values for the project so far. The cost variance (CV). The cost performance index (CPI). How is the project doing, is it under budget or over budget? Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?arrow_forwardIn what ways can underestimation or overestimation of costs impact a software project's success?arrow_forward
- Can you detect the risk management of the project “Organising a Fan Convention at Birkbeck. This could be to organise an event/concert that could connect students/staff with a celebrity of their liking. Identify – minimum 15 different risks • Analyse Use the probability/impact matrix and place all risks there For 5 risks, from different boxes, explain in detail why you think they have that level of probability and impact on the project. (use 1-2 slides) • Response strategies and specific response actions• Use the simplified risk register provided in the lecture and seminar• For 5 risks, propose a response strategy AND specific response actions for each of these. • At least one of these 5 risks should be a positive riskarrow_forwardDescribe how project management software may be used to help with project planning.Describe and clarify the situation, as asked.arrow_forwardWhat are the benefits and drawbacks of starting a project using a model that has already been constructed vs a blank piece of paper?arrow_forward
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