Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Explain why many IT professionals ignore project expenditure management and how it may affect project completion. Project budgeting: explain. Sunk cost: what is it? Provide examples of human and IT sunk costs. How come they're so hard to ignore?
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- A temporary endeavor which uses a series of tasks that have specific objectives with certain specifications, defined start and end dates, have funding limits, consume resources, and create a lasting and unique outcome is said to be a “ PROJECT”. With at least five examples, discuss the importance of those projects to Humanity.arrow_forwardSuppose you're a financial analyst at a company, and you are recommending whether the company should invest in Project A or Project B. Each of the two projects has been proposed by a lead engineer, but the company can only invest in creating one of them this year, and so your manager wants you to give her advice on which one to invest in. Your company's WACC is 9%. Project A Project 8 Year Cash Flow Year Cash Flow $3 ilio, ntialinvestment $2 milion proft $4 ilion pofit $A milion proft $2 milion proft $0, projet loseout $3 ilion, ntia ivestment $0 $0 $0 $0 $14 milion poit 1 1 2 2 3 3 4 4 5 5 Calculate the net present value (NPV) of and decide which one is better. S 유arrow_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
- What are deliverables, explain the context in which project deliverables are necessary and in what form should it take.arrow_forward(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?arrow_forwardAs a project manager appointed to lead a project in your organization Why is it so important to employ risk mitigation on your project?arrow_forward
- Sub : FinancePls answer very fast.I ll upvote. Thank Youarrow_forwardTalk about your thoughts around the dangers of assuming during the business definition phase. What might need to take place to avoid high risk misconceptions about project scope and purposearrow_forwardTo what extent can you incorporate the tenets of project stakeholder engagementsto improve a project you have been tasked to manage?arrow_forward
- What happens when you fail to manage a project's cost? How can principles of the cost management process help ensure the project does not face these consequences? *arrow_forwardExplain the process of Project Benefit Realization.Describe the five (5) fundamental broad processes of Enterprise Information and Technology Governance (EGIT)arrow_forwardExplain why net working capital is part of an examination of capital budgeting and how it is recovered at the end of life of a project.arrow_forward
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