Discuss the key decision-making criteria in ascertaining whether an agile or traditional methodology should be used on a project.

How does the decision tree structure inform three potential approaches to a given project? How do you think one should go about gathering and processing data?

Why do organizations need to tailor project management concepts, such as those found in the PMBOK® Guide, to create their own methodologies?

What are the benefits and downsides of SPI techniques, and how can one determine whether or not a certain method is suitable for a given project and business setting?

In the context of IT project management, explain the Agile methodology. Describe the Agile principles and practices and how they differ from traditional project management approaches.

After consideration of your proposal from Week 1, the WeLoveVideo, Inc. CIO is having a hard time envisioning how the project would be executed based on your recommendations. She has asked your company to develop a project plan in both waterfall and Agile so she can better understand the implications to her team.    Using Microsoft® Excel®, Project, or another project management tool of your choice that is approved by your instructor, develop one milestone-level project plan using the waterfall SDLC and a second milestone-level project plan using Agile SDLC that does the following: Describes the inputs and outputs for each phase of a project within each milestone based upon the SDLC applied. Contains at least one clear milestone at the end of each project phase and milestones within phases where applicable. Incorporates comprehensive SDLC phases based on each SDLC type.

Cheryl Druehl Retailers, Inc., must decide whether to build a small or a large facility at a new location in Fairfax. Demand at the location will either be low or high, with probabilities 0.6 and 0.4, respectively. If Cheryl builds a small facility and demand proves to be high, she then has the option of expanding the facility. If a small facility is built and demand proves to be high, and then the retailer expands the facility, the payoff is $290,000. If a small facility is built and demand proves to be high, but Cheryl then decides not to expand the facility, the payoff is $253,000. If a small facility is built and demand proves to be low, then there is no option to expand and the payoff is $220,000. If a large facility is built and demand proves to be low, Cheryl then has the option of stimulating demand through local advertising. If she does not exercise this option, then the payoff is $35,000. If she does exercise the advertising option, then the response to advertising will…

What are three different options that may be used to approach a project, taking into account the decision tree structure? In your opinion, what is the most effective technique to gather as well as evaluate information?

What are the benefits and disadvantages of SPI techniques, and what criteria should be utilised to pick a methodology that is acceptable for the project's and the company's environment?

Explain the concept of "resource allocation optimization" in project analysis. How can organizations optimize the allocation of resources to maximize project efficiency?