Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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To obtain reasonable assurance about the completion of the project within the timeline, the best method is which of the following?
A. To interpolate the end date based on completed work and resource availability
B. To obtain affirmation from the project manager about the project completion date
C. To compare the estimated end date and estimated time for completion of the project
D. To extrapolate the end date based on completed work and resource availability.
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- Why a well thought out project plan and schedule is important for a successful project? a. It will form the basis for measurement as the project proceeds b. It provides the basis of documentation going forward c. All of them d. It provides the bench mark to monitor progress going forwardarrow_forwardRisk management involves identification, assessment, control, and response to project risks to minimize the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective. Risk identification includes determining which risks may adversely affect the project objective and estimating what the potential impacts of each risk might be if they occur. Describe the steps involved to manage risk on a project. How can a risk assessment matrix help in this process? What risks for a project have the highest priority? Does the priority for a risk change as the project progress?arrow_forwardProject scope (Per Chapter 4, this should be more detailed than the proposal scope)a. Project Objectivesb. Customer Requirementsc. Project Statement of Work (Tasks)d. Project Deliverablese. Project Acceptance/Success Criteria2. Provide Estimated Number of Workers Needed to Complete Project and their responsibilitiesa. Develop fictional people with professions needed to complete the project3. Provide a Task List/Work Breakdown Structure to divide the project into piecesa. Use graphical structure from pages 114-115 in text 4. Provide a Network Diagram for your project with estimated activity durations for each step. 5. Using a Project Schedule similar to page 161 in the text, provide a schedule for the project if wewere to start on June 1st, i.e. estimated time to completion and time to complete various tasksa. Need Earliest Start/Finish and Latest Start/Finish Calculations, and Slackb. Identify the Critical Path in your project6. Provide any risks that your team believes the…arrow_forward
- A project plan is a crucial endeavour designed to guarantee the efficient delivery and successfulaccomplishment of a project's intended goals. Within an effective project plan, various documentsplay vital roles, each with its specific purpose and significance. These documents collectivelyform the comprehensive project plan, outlining the project's strategy, timeline, and resourcesrequired for its successful execution. With this in mind, interpret the purpose of the variousdocuments that make up the overall project plan.arrow_forwardIssues in project management include a. level of effort. b. period of performance. c. budget. d. all of the above. e. a and c only.arrow_forwardWhich of the following are major characteristics of projects? Choose all that apply. Has a defined life span with a beginning and an end Requires all project activities to be completed by the same team Has specific performance, time, and cost requirements Has an established objectivearrow_forward
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