You are assigned your first project and if things go well you should get promoted. The CEO is aware of this project, so you have a chance for highvisibility. You want to do a good job! Your first task is to define the work break down structure by interviewing project activity managers and thefirm's friendly, yet boring, accountants to get "good estimates" of project activity times and costs. For one of the activities, the normal time is sixweeks, the crash time is four weeks, the normal cost is $7,080, and the crash cost is $16,330. What is the crash cost per week? Round your answerto the nearest dollar.$per week

Normal time=6 weekscrash time=4 weeksnormal cost=$7080crash cost=$16330

Answered: You are assigned your first project and…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 21P

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You are assigned your first project and if things go well you should get promoted. The CEO is aware of this project, so you have a chance for high visibility. You want to do a good job! Your first task is to define the work break down structure by interviewing project activity managers and the firm's friendly, yet boring, accountants to get "good estimates" of project activity times and costs. For one of the activities, the normal time is eight weeks, crash time is four weeks, the normal cost is $7,420, and the crash cost is $17,000. What is the crash cost per week? Round your answer to the nearest dollar. per week
You have been hired by a contractor, who wants you to manage a constructionproject for one of their clients. The project team has been working for twomonths, and is 35% done with the job. Two of your team members come toyou with a conflict about how to handle the ongoing maintenance for a pieceof equipment. You know that they can safely ignore the problem for a while,and you’re concerned that if your project falls behind schedule before nextweek’s stakeholder meeting, it will cause problems in the future. You tell thetwo team members that the problem really isn’t as bad as they think it is, andif they take a few days to cool off about it you’ll help them with a solution.This approach to conflict resolution is known as ______.A. WithdrawalB. CompromiseC. SmoothingD. Forcing You are a project manager for a software project. As you are defining thescope of the work you need to do, you sit down with all of the project’sstakeholders and record all of the requirements you can get from…
Your team has already identified the details of the work schedule in a work breakdown structure and visualized these details in a Gantt chart with a critical path. You also used your stakeholder management plan to determine who needs to be informed of progress on the project and when. And you’ve planned out responses to the risks you identified. Now, you must determine the cost to build and operate this store. You must also estimate the costs of the required inventory inside the store and the hiring and training of employees to begin operations. Read Project Cost Estimating and Project Procurement for help in answering this question
Your colleague Fatima has been staying late every night to finish an important report for your boss. You know that she has missed a lot of time with her family, but she is a hard worker. She is supposed to be working on the report with her colleague Paul. You know that Paul lets Fatima do all the work and he goes home early. At the end of the week, the report is handed in to the boss and the boss is thrilled. The boss gives a big thank you to Paul and Fatima, and offers to take them both out to lunch to celebrate. What should you do?
(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…
Develop three (3) program proposals that you think can help in improving the Job Satisfaction of employees in your company. (You may develop a new company or use an existing one) Provide the following details: COMPANY NAME: INDUSTRY: NUMBER OF EMPLOYEES: PROJECT NAME: HRM FUNCTION INVOLVED: OBJECTIVES: (at least three) HORT DESCRIPTION/ ILLUSTRATION OF PROJECT: DEPARTMENTS INVOLVED: PROPOSED BUDGET ALLOCATION: PROPOSED BUDGET SOURCING:
You may need to use the appropriate technology to answer this question. The product development group at Landon Corporation has been working on a new computer software product that has the potential to capture a large market share. Through outside sources, Landon's management learned that a competitor is working to introduce a similar product. As a result, Landon's top management increased its pressure on the product development group. The group's leader turned to PERT/CPM as an aid to scheduling the activities remaining before the new product can be brought to the market. The project network is depicted in the following diagram. Start Activity A B с D The activity time estimates (in weeks) are listed in the following table. Optimistic Most Probable Pessimistic E F G H I J 3 3 4 2 7 6.5 4.5 6 2 A 4 B 4 3.5 5 3 10 7.5 6 F 7 E 5 2.5 D H 5 7 6 4 13 11.5 7.5 14 6 6 J Finish (a) Develop an activity schedule for this project and identify the critical path activities. (Enter your answers as a…
You are managing a large construction project that’s been broken down intosub-projects (or phases). Each of these sub-projects is scheduled to takebetween three and six months to complete. At the end of each sub-project,you plan to go through the closing processes and document lessons learned.Which of the following BEST describes what you must do at the beginning ofeach sub-project or phase?A. Develop the preliminary scope statement for the phaseB. Make sure you don’t involve the team, to avoid introducing too much projectmanagement overheadC. Use the Earned Value Technique to decide whether or not to finish the projectD. Release all resources from the project and contact sellers to renegotiate allcontracts
You are in charge of implementing the internal website your company will use to display its event calendar. Although you have limited ability to make project choices and must bargain with the functional manager to obtain the resources you need for your project, it is your responsibility to organise activities, resources, equipment, and information on the project. Which of the organisations listed below do you work for? Group of answer choices Composite structure Strong matrix Weak matrix Balanced matrix
You have been assigned as the team leader for a group project to update the current HR vacation and sick leave policies. Your five-member team has 6 months to complete the task and present a recommendation to the management team of the organization. Your immediate role is to organize and assign each team member with his or her specific assignments to accomplish the project. Describe the steps to creating an implementation strategy for your team.
1. You have just started a project for a manufacturer. Project team members report they are 30 percent complete with the project. You have spent $25,000 out of the project's $250,000 budget. What is the earned value for this project? 2.You are the project manager of the Carpet Installation Project for a new building. Your BAC is $600,000. You are now 40 percent complete with the project, though your plan called for you to be 45 percent complete with the work by this time. What is your earned value?
Linking Individual with Unit and Organizational Priorities: Obtain a copy of the job description for your current or most recent job. If this is not feasible, obtain a copy of a job de- scription of someone you know. Then, obtain a copy of the mission statements for the organization and unit in question. Revise the job description so that it is aligned with the unit and organizational strategic priorities. Revisions may include adding tasks and KSAs important in the mis- sion statement that are not already included in the job description.

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