Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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- Evaluate the below statement according to the project management terminologies and choose the correct answer: It is the process of making a forecast or precise approximation Choose... of time and cost associated with a work package or activity. Graphically describes a project consisting of well-defined Choose.. activities, the completion of which marks its end. One of the Perform Quantitative Risk Analysis process has a Choose.. Tools and Techniques. Useful for building accountability through assigning specific Choose.. tasks to team members. It is the standard format each path through the network must be continuous with no gaps, discontinuities, or dangling Choose... activities. Organizational Assets, Project Scope Statement, Cost Management Plan and Schedule Management Plan are inputs Choose.. of: Choose... Work Breakdown Structure Expert Judgment Bar chart Estimating A horizontal diagram format Plan Risk Managementarrow_forwardUse any of the information gathering techniques (i.e. Brainstorming) to identify five cost risks associated with a construction project?arrow_forwardNorth American Free Trade Agreement (NAFTA), General Agreement on Tariff and Trade (GATT), U.S.-China Trade Relations Act, and EU and WTO efforts are considered to be _________________. a. Risk management b. Quality problems c. Innovating d. Economic Conditions e. None of the abovearrow_forward
- Define and illustrate three characteristics of a Table data type when used within an RPA project.arrow_forwardThe options presented to CGC are the following: (Select all that Apply) A. Engage in a relatively modest renovation of the property. B. Undertake a major renovation of the casino to transform it from a second-tier operation into one of the top gambling operations in the area. C. Invest in a newer casino in Gulf Shores, AL. D. Do nothing. E. Shut down the operations of the casino entirely. F. Shut down the operations of the casino and move to another area of the country that allows casinos but which is less prone to hurricane damage.arrow_forwardGive 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?arrow_forward
- What possible security risks might develop throughout the process of creating a plan of action and milestones?arrow_forward3.1 The PMBOK categorises risks into internal and external factors. Anne found that her working relationship with Mr. Richard Cramer was progressively deteriorating as his micro management of the project was taking a toll on the project and staff morale. As a result, Anne and some of the project team members wanted to absolve themselves of the project. Had this transpired, it would have posed a risk on the successful delivery of the project. Define the concept the above situation would have created.arrow_forwardb. Indicate where in the risk matrix the following example of risks would fall. Suggest how each of the risks could be handled by the organisation.i. Working from heights in a construction company. (3 marks)ii. The cashier might steal coins from the cash box to buy airtime. (3 marks)iii. A University catching fire and being burnt down. (3 marks)iv. People in the University neighbourhood will complain due to noise made by students during a fashion show at the university. (3 marks)v. Identify any four risks faced by an organisation when cleaners perform their duties. (4 marks.arrow_forward
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