Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Related questions
Concept explainers
Topic Video
Question
Think of a project in which you are currently involved.
Describe the objectives, scope,
Where are you currently in the project life cycle?
Do you feel the project has a realistic schedule? Why or why not?
How were resources assigned to the project? Did you agree with the process? Have the assignments been successful?
Is anyone currently monitoring the progress of the projects? What is the current status of the project?
Have any changes been made to the scope of the project? If so, how were the changes handled?
Describe some unexpected circumstances or risks that could impact the success of the project.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Appreciate the importance of managing project resources, and their effect on project duration. What are the resources and effects?arrow_forwardA successful project need a project management plan. How to ensure this statement. You may have point from the financial management control. Justify its strengths and its weaknessesarrow_forwardDiscuss the strength and weaknesses of (a) quantitative and (b) qualitative methods of project evaluation and selection.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_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_forward
- In Project Management, can you justify the following statements: Discuss the statement: Failing to define what is not part of the project is just as important as failing to define what is part of the project. Discuss the importance of top management commitment and the development of standards for successful project management. Provide examples to illustrate the importance of these items.arrow_forwardDescribe how project management software may be used to help with project planning.Describe and clarify the situation, as asked.arrow_forwardDescribe a baseline plan? What purpose does it serve once the project team begins to execute the project plan? Also, does it help in mitigating some of the risks? Please provide specific examples.arrow_forward
- What are the benefits of providing excellent project reports and communications?arrow_forwardSelect a project based on the definition "A project is a temporary endeavor undertaken to create a unique product, service, or result" What project have you selected? Explain. Provide reasons for selecting the project. What kind of organization or industry does your selected project belongs to? How does the project you selected fit the definition of a project? Is your selected project constrained by performance, cost, or schedule? Why or why not?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education 
Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.