1. If the organization within which the project is being undertaken has a risk department or section, the project manager need not be concerned with risk in the project since this is the job of the risk department. Explain why this statement is true or false. Explain your reasoning. 2. In this course the instructor has emphas
I have been asked to put together a brainstorming session to identify risk for a new project. Please help me explain the purpose and rationale of the risk identification process and discuss the process to review the procurement that should be done during the brainstorming session
The article I chose this week "Obama administration criticizes JPMorgan over mortgages". The article talked about how companies such as JPMorgan, Chase and Bank of America has failed people that have been trying to save their home. According to the Treasury Departments "housing scorecard", it revealed that these banks mortgage
You are in charge of scheduling the waitstaff for a 24-hour restaurant. You have a staff of nine full-time employeesand three part-time employees; however, one staff member is on FMLA leave,another was called to jury duty, and a third has an eye condition that preventshim driving at night. Two staff members are college students
1. Suppose you are the project manager of a team of software specialists working on a project to produce a piece of application software in the field of accounting. Identify some items that might go wrong during this type of project (i.e., what are some of the risks in this project), and discuss how you, as the PM, would assess
Details: Consider the following scenario: Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses a
Imagine that you are a senior manager of a company operating in Hong Kong in a highly innovative and competitive market with an annual turnover of US$500,000,000 and that you have a first draft of what can be a good business opportunity with an estimated investment (sunk) cost of US$50,000,000. Your intuition is that it might
Risk management is a matter of identifying the situations that could cause your project to fail. Common risk include loss of staff, decreased funding, decision point approvals not completed in a timely manner, content not being available. Brainstorm three or four other risks that you have seen projects experience. Once you h
Merchants: For the first time in history, the festival can sell BEER. Limit 2 per person, per day. Add activities that include obtaining and posting the liquor license; validating IDs, validating the per-person limit, etc. Also, add training for the beer servers. Describe the plan.
B. Entertainment: Due to electrical code changes, all the equipment that bands bring to the stage will need to be checked by fire marshals. It's very probably that several of the entertainers won't have the proper, up-to-code equipment. Add activities that will resolve this issue prior to the event.
Some changes to your program. Discuss and begin to prepare plans among your group members how you will go about making modifications you should make to keep your sub-project on track. Modify the integrated project plan as a result of a team meeting to incorporate the changes to the plan as provided by the CBDF. The trickiest
Milton Manufacturing has four categories of overhead. Cost Allocation. Determine the amount of overhead that would be applied to the proposed project if activity-based costing is used.
Milton Manufacturing has four categories of overhead. The four categories and expected overhead costs for each category for next year are as follows: Maintenance $70,000 Materials handling 30,000 Setups 25,000 Inspection
Once your budget is planned and allocated across your work packages, it is critical to monitor and control your project's cost. Why is monitoring and controlling the project cost important for the success of the project? What are some key components to monitor the health of the project, as it relates to earned value? How is earn
Cost planning starts with the proposal for the project, at which time project costs are estimated. And for budgeting purposes, it is best to keep the work packages or activities small in terms of scope and duration. What are some of the ways that a project manager can take these budgeting plans and track and compare them to actu
Using the following project information Activity Optimistic Time Most Likely Time Pessimistic Time Immediate Predecessor(s) Variance Expected Time A 3 6 9 none 1.000 6.00 B
You have a great deal of freedom with this project, so be creative and choose a topic that you will enjoy researching. Also, you may want to think about a topic that is pertinent to your current and/or future career goals. *Note: Every student in the course must have a unique and individual topic Brainstorm Possibilities
Your company plans to produce a product for two more years and then to shut down production. You are considering replacing an old machine used in production with a new machine. The Old machine originally cost $552 and was bought Three (3) years ago (i.e. it has depreciated for three years). It could be sold today for $330 or sol
Discuss the role of the project manager in the in-house development of a customized application. In what situations might both Information System managers and business managers serve as co-leaders of a project?
Given the following project to landscape a new building site. Activity Immediate Predecessor Activity duration(days) Resources used A: Get Plants - 2 X,Y B: Get flowers A 2 X C: Obtain soil A 3 X D: Obtain Fertilizer B,C 4 X,Y E: Select Labor D 3 W,X F: Set date D 1 W,X,Y
Assignment - Risk Paper #1 Write a paper regarding a project, either real or fictitious, where one is able to discuss how risks were identified, ranked, and monitored. The student is also welcome to write about a major purchase or major decision in one's life, such as buying a new car, buying a new home, or even the decision
Workplace Security Describe five types of risk and discuss management techniques for eliminating, reducing, or mitigating each type of risk type. For each risk type describe the process for analyzing needs identified through a risk assessment. They are Pure Risk, Dynamic Risk, Speculative Risk, Static Risk, and Inherent Ri
One of the measurements of leadership is the EQ (Emotional Intelligence) score. Anthony Mersino attempts to show the place of EQ with the project manager and states Emotional Intelligence is vital to Project Managers. Persons with high EQ seem to be more successful and effective at work. There are five dimensions of EQ. 1
All projects are constrained by three factors time, cost and scope and for a project to be successful all these three constraints must be in equilibrium and, without any doubt, if any one of the three is out balance the project is heading for delay/failure. Then what is the difference between IT project managers and traditio
Please develop a Project Charter based on the initial analysis provided. Use the template that is provided following the case study as a basis for your work. If the case study does not provide enough information for a particular section, you may "embellish" the case study with additional information sufficient to allow you to co
Given the following information for a one-year project, answer the following questions: Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV = $23,000; EV = $20,000; AC = $25,000; BAC - $120,000 What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? How is the project doing? Is it ahead of schedule or behind schedule? 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? Use the schedule performance index (SPI) to estimate how long it will take to finish this project.
Given the following information for a one-year project, answer the following questions: Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV = $23,000; EV = $20,000; AC = $25,000; BAC - $120,000 What is the cost variance, schedule variance, cost performan
Consider the network in the attachment. 1. Compute the earliest start time (ES) of activity G using a forward pass. 2. Compute the project completion time. 3. Compute the latest finish time (LF) of activity B using a backward pass.
If a person has been certified by a Project Management certification body such as PMI, IPMA, AIPM, APM but has never been on an IT project team, would you even consider hiring that person to manage an IT project? Justify your answer.
What are some factors (patterns of behavior) that project a company's culture? List several examples of organizations you work in.
Select any project (preferably IT) that you have participated in. Describe how well the project budget and schedule were controlled, and evaluate why you think this outcome occurred.
Discuss a performance improvement project you have been involved in or had knowledge of. What process was used to identify the need for an improvement and what steps were taken to work through the process to achieve the improvement? What challenges did you face along the way?