The closest value to the pessimistic project completion time is
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A: Estimation of costs: The practice of estimating the price and other resources needed to complete a…
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A: Find the given details below: Given Details: Expected Completion time 40 weeks Standard…
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A: The project selection technique is the method that assists a firm in analyzing various options…
Q: organisation
A: The planning process's first stage consists of deciding Objectives and goals. These are the…
Q: An effective project charter is written for experts in project management who can evaluate the…
A: An effective project charter is written for experts in project management who can evaluate the…
Q: Which phase in the project life cycle involves evaluating expected costs, benefits, and risks?
A: Planning The expected cost ,benefits and risks are evaluated and identified on the planning stage.
Q: Explain why the triple constraints are the important ingredient in the project planning phase.
A: The Triple constraint theory says that every project that has been developed in the past, must…
Q: [Project Management] Make a list of the five most significant factors that determines a project's…
A: A project requires thoughtful planning, active communication, and attentiveness to every detail.…
Q: Justify why a project manager who has been trained should be in charge of complicated tasks.
A: In any company, project management plays a crucial role in the successful completion of the project.…
Q: what are the smart criteria for Project scope and Budget allocation
A: Answer: In the domain of 'project management', the term SMART is an acronym which denotes some…
Q: It is necessary to compile and debate a comprehensive set of project viability criteria. Is there a…
A: Project viability:- If, when considered for society as a whole, the project's economic advantages…
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A: Budget at completion (BAC) is given as $125,000, actual cost (AC) is $80,000, and planned value (PV)…
Q: an introduction about the project must be included in every project audit report, why? Explain…
A: A project audit is generally carried out because, 1. It would evaluate the efficiency as well as…
Q: How is project management used to govern the scope, time, and cost of a project?
A: Project management is an activity that assists in listing down all the aspects which are associated…
Q: The majority of the project budget is expended upon: Select one: O a. Project termination. b.…
A: A project budget is the total projected costs needed to complete a project over a defined period of…
Q: The relative criticality of various project risks are prioritized through: a) qualitive risk…
A: The process of determining which project risks are the most serious so they may be dealt with first…
Q: If the project is to be fin ished in a shorter amount of time, what is the best way to accomplish…
A: Especially if they aren't acquainted with the labor involved, people often underestimate the time…
Q: The closest value to the optimistic time to complete the project is *
A: A project schedule network diagram shows the sequential and analytical relationship between tasks in…
Q: In the literature, project success variously refers to “on time, within budget, to specification”…
A: Before delving into what makes a project successful, let us first understand what project management…
Q: What we refer to as the vision are the "components" of a good project vision. What significance does…
A: When we are unsure of our business objective or the business objectives subordinate to it, we should…
Q: What is the role of the project leader in a predictive project team and an agile project team,…
A: Definitions: Predictive project: - The project whose scope is clearly defined and is focused…
Q: ou are sponsoring a project and what parameters you have to keep in your mind while deciding the…
A: A project is a task of the management team that must be completed in order to have a certain result…
Q: What are the two common approaches in considering the risk elements in a project evaluation?
A: The basic approaches that can be used to follow risk elements in project management are the top-down…
Q: Why are accurate estimates critical to effective project management?
A: Project management is the application of technical knowledge, abilities, instruments, as well as…
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Q: Describe three aspects of a project that might involve some degree of uncertainty
A: As we all know that there are various business and marketing organizations. Also, there are…
Q: The project manager must be willing to manage within the guidelines, policies, procedures, rules,…
A: THE ANSWER IS AS BELOW:
Q: In the space provided below create the network diagram that shows the relationship (logic) of…
A: The data given is shown below in a tabular form.
Q: Discuss the necessity of project scheduling as well as the obstacles that come with it. As…
A: Project scheduling:- A schedule is a plan that helps organize and control tasks, resources, and…
Q: Why is the implementation of projects important to strategic planning and the project manager?
A: Works are temporary and one-of-a-kind. It is a world away from day-to-day activities. To prepare and…
Q: A project plan is a company's information security blueprint, but how does this occur?
A: A security blueprint is a rough draft that forms part of a company's important document. It contains…
Q: Who needs to be involved in assessing the cost of a project?
A: To use parametric estimating, first divide a project into units of work. Then, you must determine…
Q: You have been asked to evaluate Project A. You have been provided with the real cash flows of the…
A: In order to thoroughly and accurately analyse a potential project, one must take many things into…
Q: Compare and contrast the Project Evaluation and Review Technique (PERT) with the Critical Path…
A: Project management is managing different aspects of the project. It includes planning, organizing,…
Q: What is the probability that the project will be completed by a specific date?
A: The probability of completing a project by a specific date is the date within which the chances of…
Q: What three types of project costs present the greatest risk to the project manager?
A: Project organization is a structure of a project which provides the basis on which project decisions…
Q: Why is Project Management's three limitations essential for evaluating success or failure of the…
A: The project executives' imperatives are represented by the project board triangle. It has been in…
Q: Analyse the significance of gearing and insolvency for project cost management? Evaluate labour…
A: Project cost management is the process to controlling, estimating and budgeting cost throughout the…
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- 1.You’re managing a project to install 400 windows in a new skyscraper and need to figure outyour budget. Each week of the project costs the same: your team members are paid a total of $4,000every week, and you need $2,000 worth of parts each week to do the work. If the project isscheduled to last 16 weeks, calculate theBAC, PV, EV, AC, SPI, SV, CPI, SPI, CV for the project? 2.You’re managing a highway construction project. Your total budget is $650,000, and there isa total of 7,500 hours of work scheduled on the project. You check with your accountingdepartment, and they tell you that you’ve spent a total of $400,000. According to the schedule,your crew should have worked 4,500 hours, but your foreman says that the crew was allowed towork some overtime, and they’ve put in 5,100 hours of work. Calculate theBAC, PV, EV, AC, SPI, SV, CPI, SPI, CV for the project?1 Cara's clients, Emily and Dave, have just had a baby and she would like to do something nice for them. She signs them up for a baby registry that sends them a small gift. Emily and Dave will be sent information and service lists that are geared toward helping new parents. She provided their names, address and phone numbers so that they will not miss any of the activities provided in the package. Has Cara dealt with her clients appropriately? NUYLOTNQhObm1bEVKUTO90 a0 Cara did not protect her clients' privacy when she shared their personal information with the baby registry. O Cara should not make this a regular practice. Her clients will begin to expect gifts and she will not be able to sustain this. CO Cara should have set up an appointment to re-evaluate her clients' needs now that they have had a baby. 40 Cara's gift is very thoughtful and will help to build a relationship with her clients. NUTYks10TNRUQ2h0bmkbEVKUTO90An enterprise resource planning (ERP) system is best described as: Answers A E A An information system designed to allocate resources, such as staff and rooms, to an organisation's current projects B The software and hardware required to allow functional area information systems to exchange information C An information system that enables an organisation to plan the resources required for upcoming projects DA method to enable legacy departmental information systems to interoperate with newer systems. EA suite of integrated software modules for managing information about business activities.
- 10.6 This optional problem requires knowledge of statistics. Heywood Home Healthcare is evaluating a project with the following net cash flows and probabilities: Time 0 Year 1 Year 2 Year 2 Year 3 Year 4 Prob = 0.2 ($100,000) 20,000 20,000 20,000 20,000 30,000 Prob = 0.6 ($100,000) 30,000 30,000 30,000 30,000 40,000 Prob = 0.2 ($100,000) 40,000 40,000 40,000 40,000 50,000 The year 5 values include salvage value. Heywood’s corporate cost of capital is 10 percent. What is the project’s expected NPV on the basis of the scenario analysis? What is the project’s standard deviation of NPV? Assume that Heywood’s managers judge the project to have lower-than-average risk. Furthermore, the company’s policy is to adjust the corporate cost of capital up or down by 3 percentage points to account for differential risk. Is the project financially attractive?From this selected reference: Bixby, A., B. Downs, and M. Self: “A Scheduling andCapable-to-Promise Application for Swift & Company,” Interfaces, 36(1): 69–86, January–February 2006.https://www.academia.edu/34766673/A_Scheduling_and_Capable-toPromise_Application_for_Swift_and_Company) Summarize the background that led to undertaking this study.Office Automation Inc., developed a proposal for implementing a software system that will standardize the accounts payable function by automatically issuing an electronic payment upon receipt of the vendor invoice. Contained in the proposal is a list of activities that must be accomplished to complete the project. The following table contains relevant information about the activities. Time (weeks) Cost ($1,000s) Activity Description ImmediatePredecessor Normal Crash Normal Crash A Plan needs 10 8 30 70 B Order equipment A 8 6 120 150 C Install equipment B 10 7 100 160 D Set up training lab A 7 6 40 50 E Conduct training course D 10 8 50 75 F Test system C, E 3 3 60 (a) Develop a project network. A project network with 8 activities and 8 directed arcs is shown. Activity Start is connected to activity A. Activity A is connected to activity B and to activity D. Activity B is connected to activity E. Activity C is connected to activity F. Activity D is…
- Office Automation Inc., developed a proposal for implementing a software system that will standardize the accounts payable function by automatically issuing an electronic payment upon receipt of the vendor invoice. Contained in the proposal is a list of activities that must be accomplished to complete the project. The following table contains relevant information about the activities. Time (weeks) Cost ($1,000s) Activity Description ImmediatePredecessor Normal Crash Normal Crash A Plan needs 10 8 30 70 B Order equipment A 8 6 120 150 C Install equipment B 10 7 100 160 D Set up training lab A 7 6 40 50 E Conduct training course D 10 8 50 75 F Test system C, E 3 3 60 (a). Develop a project network. (b) Develop an activity schedule. Activity EarliestStart LatestStart EarliestFinish LatestFinish Slack A B C D E F (c) What are the critical activities? (Enter your answers as…Office Automation Inc., developed a proposal for implementing a software system that will standardize the accounts payable function by automatically issuing an electronic payment upon receipt of the vendor invoice. Contained in the proposal is a list of activities that must be accomplished to complete the project. The following table contains relevant information about the activities. Time (weeks) Cost ($1,000s) Activity Description ImmediatePredecessor Normal Crash Normal Crash A Plan needs 10 8 30 70 B Order equipment A 8 6 120 150 C Install equipment B 10 7 100 160 D Set up training lab A 7 6 40 50 E Conduct training course D 10 8 50 75 F Test system C, E 3 3 60 (a) Develop a project network. A project network with 8 activities and 8 directed arcs is shown. Activity Start is connected to activity A. Activity A is connected to activity B and to activity C. Activity B is connected to activity E. Activity C is connected to activity D. Activity D is…Office Automation Inc., developed a proposal for implementing a software system that will standardize the accounts payable function by automatically issuing an electronic payment upon receipt of the vendor invoice. Contained in the proposal is a list of activities that must be accomplished to complete the project. The following table contains relevant information about the activities. Time (weeks) Cost ($1,000s) Activity Description ImmediatePredecessor Normal Crash Normal Crash A Plan needs 10 8 30 70 B Order equipment A 8 6 120 150 C Install equipment B 10 7 100 160 D Set up training lab A 7 6 40 50 E Conduct training course D 10 8 50 75 F Test system C, E 3 3 60 (d) Assume that the company wants to complete the project in six months or 26 weeks. What is the amount of crash time (in weeks) for each activity that minimizes cost? (A, B, C, D, E) = (e) Develop an activity schedule for the crashed project. Activity EarliestStart LatestStart…
- Office Automation Inc., developed a proposal for implementing a software system that will standardize the accounts payable function by automatically issuing an electronic payment upon receipt of the vendor invoice. Contained in the proposal is a list of activities that must be accomplished to complete the project. The following table contains relevant information about the activities. Time (weeks) Cost ($1,000s) Activity Description ImmediatePredecessor Normal Crash Normal Crash A Plan needs 10 8 30 70 B Order equipment A 8 6 120 150 C Install equipment B 10 7 100 160 D Set up training lab A 7 6 40 50 E Conduct training course D 10 8 50 75 F Test system C, E 3 3 60 (a) Develop an activity schedule. What are the critical activities? (Enter your answers as a comma-separated list.) Assume that the company wants to complete the project in six months or 26 weeks. What is the amount of crash time (in weeks) for each activity that minimizes…Image of Diagram included Using the diagram, find: The critical path. How long it will take to complete the project? How does simulation determine the probabilities of various project completion times? What is "slack" and why is it important? Why is activity-on-arrow (AOA) or activity-on-node (AON) of significant value to the project manager? How is the uncertainty in project scheduling dealt with? Should the critical path activities be managed differently from noncritical path activities? Explain.++ Earned value analysis is the project management tool that is used to measure project progress. You are a project manager in company XYZ that responsible to handling the packaging machine project with the total cost budgeting is RM100,000. There are including RM24,000 (Design), RM60,000 (build) and RM16,000 (install & test). The information regarding on the project progress development in weeks 8 as shown in Table 2 below: Table 2 No 1 2 3 Type Cumulative Budgeted Cost (CBC) Cumulative Actual Cost (CAC) Cumulative Earned Value (CEV) TOTAL RM 64,000 68,000 54,000 100,000 Percentage 64.0 68.0 54.0 100.0 a) With the aid of a typical S-curve diagram, draw and explain the four cost-related measures such as TBC, CBC, CAC and CEV to analyses the overall project cost performance.