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- Project definition involves: Your answer: 1-identifying geo-social environment, econo-political environment, business environment, and internal environment. 2- identifying stakeholders, understanding their motivations,and prioritising and managing different stakeholders. 3- determining objectives, scope. and strategy. 4- Defining operationsYou are the manager of a project to improve a billing processat your firm. Table 7.7 contains the data you will need toconduct a cost analysis of the project. Indirect costs are $1,600per week, and penalty costs are $1,200 per week after week 12.a. What is the minimum-cost schedule for this project?b. What is the difference in total project costs between the ear-liest completion time of the project using “normal” timesand the minimum-cost schedule you derived in part (a)?Page 3 of 5You have recently gained your APM Risk qualification and have been asked to join the University’s project team on a consultancy basis to help implement a robust riskmanagement process on the project.Section A Questionsa) List 5 Stakeholders in the projectb) State the main objectives and success criteria for the project.c) Prepare a draft risk management plan, completing all relevant sections with information obtained from the case study. Marks will be awarded according to the following scheme:i.Introductionii.Project Description iii.Purpose and Scope of Risk Managementiv.Risk Management Organisation v.Risk Management Process vi.Key deliverables d) State 5 risks that may occur on this project. Ensure that risks are stated using the formatcause – risk event – effect. e) For 2 (two) of the stated risks State who (in your opinion) the potential owner would be Explain (again in your opinion) what could be done to respond to the risk State (in your opinion) what would be the…
- (12) Cost budgeting can be best described by which of the following? A The process of developing the future trends along with the assessment of proba bilities, uncertainties, and inflation that could occur during the project B. The process of assembling and predicting costs of a project over its life cycle C. The process of establishing budgets, standards, and a monitoring system by whi ch the investment cost of the project can be measured and managed D. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis (13) The process of monitoring the status of the project to update the project costs and managing changes to the cost baseline is called A Determine Budget B. Control Costs C. Estimate Costs D. Plan Cost Manag ement (14) Cost Variance (CV) is which of the following equations? A CV = EV - PV B. CV = EV - AC C. CV = EV / AC D. A and c (15) To assist in budget control, it is suggested that an estimate be created at the level of the…A project with total budget cost of 30 cr. is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given: Budgeted cost of work performed = 17 cr. Actual Cost of work performed = 19 cr. Budgeted cost of work scheduled = 21 cr. What is the cost performance index? A.0.895 B.0.81 C.0.90 D.1.12(26) To successfully manage a project, the project manager must play both a manager and a leadership role. In a manager's role, the project manager will do all but which of th e following: A Define Roles and Responsibilities B. Extend favors to some important team me mbers C. Provide feedback to team members D. Resolving interpersonal conflicts E. Both b and d (27) What is the term used for processes that are required to ensure timely and appropr iate planning, collection, creation, distribution, storage, retrieval, management , control monitoring, and the ultimate disposition of project information? A Project Communications Management B. Project Scope Management C. Project Procurement Management D. Project Integration Management (28) Which of the following can cause a conflict? A Insufficient action on the part of the project manager B. Competition for facilities, equipment, material, manpower and other resources C. Personality conflicts between managers and/ or other personnel D. All…
- . Craft a high-level Procurement Management Plan for the project. Craft a high-level Human Resource Management Plan for the project.A company was replacing the single-use plastic bags with cloth bags. However, the selected fabric is on backorder and will not be in stock for three weeks. The vendor suggested using another fabric that is in stock, but it is less sturdy than the original choice.If the company decides to wait until the original fabric is available, this will change the __________ of the project. a.) cost b.) scope c.) quality d.) timelineIII. Evaluate the below statement according to the project management life cycle In this phase of project life cycle: it involves finalizing the whole project and make sure the functionality of the components and the whole system. Choose... In this phase of project life cycle: try to make the plan to come true by converts blue prints and specifications into physical Choose... structure. In this phase of project life cycle: It involves dealing with suppliers, contractors and subcontractors and ordering project Choose... resources. In this phase of project life cycle: preparing the needed document and plans for the project such as blue prints and Choose... specifications for the project. In this phase of project life cycle: starting with developing the Choose... project Idea by recognizing need for the project. In this phase of project life cycle: preparing evaluation and status reports, what if there is need to do some changes in Choose... quality. Choose.. Delivery Phase Execution…
- 1. Describe one project software program that could help a project manager control costs.https://www.space.com/nasa-picksspacex-blue-origin-private-moon-lander-companies.html Project Managers are often tasked with the responsibility to select potential projects and to motivate their selection to senior management in order to procure commitment of funds and resources.1 Establish and highlight the importance of project management as a key enabler of organisational strategy and identify how this relates to NASA as per the case study.2 Discuss the project selection criteria available to Project Managers and elaborate on NASA’s approach to project selection for future moon missions.1. Imagine that you have been assigned to a team that will be developing an inventory tracking system. As part of the project startup, your manager has asked each team leader to bring a basic work plan to the next meeting. At that meeting, these work plans will be analyzed to determine the overall project timeframe, costs, personnel requirements and software requirements. For now, as the team leader for the data design team, you have been asked to bring a work plan that identifies the phases of data design and includes the following information for each phase:i). a description of the data design phase,ii). the inputs of the phase,iii). the outputs of the phase,iv). a key issue addressed in the phasev). a challenge that you can anticipate would occur in the phase.Please prepare the response you will bring to the meeting. vi) . UPS prides itself on having up-to-date information on the processing and current location of each shipped item. To do this, UPS relies on a company-wide…