Project Management: The Managerial Process (Mcgraw-hill Series Operations and Decision Sciences)
7th Edition
ISBN: 9781259666094
Author: Erik W. Larson, Clifford F. Gray
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 2, Problem 7RQ
Discuss the pros and cons of the checklist versus the weighted factor method of selecting projects.
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What is the most important points that must be included in the analysis performance of the alternative projects?
Identify and briefly define the three elements that are traditionally used to measure the ultimate success of a project.
Describe a number of project assessment criteria in detail.
Chapter 2 Solutions
Project Management: The Managerial Process (Mcgraw-hill Series Operations and Decision Sciences)
Ch. 2 - Describe the major components of the strategic...Ch. 2 - Explain the role projects play in the strategic...Ch. 2 - How are projects linked to the strategic plan?Ch. 2 - The portfolio of projects is typically represented...Ch. 2 - Why does the priority system described in this...Ch. 2 - Why should an organization not rely only on ROI to...Ch. 2 - Discuss the pros and cons of the checklist versus...Ch. 2 - You manage a hotel resort located on the South...Ch. 2 - Two new software projects are proposed to a young,...Ch. 2 - A five-year project has a projected net cash flow...
Ch. 2 - You work for the 3T company, which expects to earn...Ch. 2 - You are the head of the project selection team at...Ch. 2 - You are the head of the project selection team at...Ch. 2 - The Custom Bike Company has set up a weighted...Ch. 2 - What is our major problem?Ch. 2 - Identify some symptoms of the problem.Ch. 2 - What is the major cause of the problem?
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- Why do we evaluate projects and what is usually evaluated?arrow_forwardWhat are the critical points that must be used in the success study of alternative projects?arrow_forwardCan you help me with this problem   The Custom Bike Company has set up a weighted scoring matrix for evaluation of potential projects. Following are five projects under consideration.   1. Using the scoring matrix in the following chart, which project would you rate highest? Lowest?   2. If the weight for “Strong Sponsor” is changed from 2.0 to 5.0, will the project selection change? What are the three highest-weighted project scores with this new weight?   3. Why is it important that the weights mirror critical strategic factors?arrow_forward
- Construct a project checklist model for screening these four alternatives and which is the best and worst choice for selection?arrow_forwardFind What is the best way to draw a project network?arrow_forwardState and explain three phases that are involved in the management of a large project under project management ?arrow_forward
- Discuss the integration of sustainability goals and Environmental, Social, and Governance (ESG) criteria in project analysis. How can projects align with broader sustainability objectives?arrow_forwardDescribe the method of developing cost estimates using WBS.How are these figures combined to arrive at the approximate net cost of the project?arrow_forwardDescribe the steps involved in creating a project network in operations?arrow_forward
- You are the head of the project selection team at Broken Arrow Records. Your team is considering two different recording projects. Based on past history, Broken Arrow expects at least a rate of return of 20 percent. Given the follwoing information for each project, which one should be Broken Arrow's first priority? Should Broken Arrow fund any of the other projects? If so, what should be the order of priority based on return on investment?arrow_forwardExplore the concept of "strategic alignment" in project analysis. How can project selection and prioritization align with an organization's strategic objectives?arrow_forwardHow do you define a perfect project? Also write comprehensive note on project screening and selectionarrow_forward
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