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PROJ 592 Final Exam (Set 2) (Devry)
http://www.fres-courses.com/product/proj-592-final-exam-set-2-devry |
PROJ 592 Final Exam (Set 2) (Devry) 1. (TCO B) Estimating Procedures (b) In addition to price fluctuations, you are also uncertain of how much of the material will be required for the project. Scope changes and site conditions will affect the amount of material actually needed. The most likely amount required is 36 tons. However, as little as 28 tons or as much as 56 tons might be required. (c) Using the estimates from (a) & (b) what is the expected cost for the material over the life of the project using the COMPLEX method? (Points : 30) 2. (TCO B) Contingency Allowance: You are a project manager for the development of Motorola’s new 4G, HD, Touch Screen Cell Phone which is supposed to take the cell phone industry by storm. Listed below are the initial cost estimates for the materials and labor for one of the phones: (a) What contingency cost budget do you recommend for the product? (b) The target retail price for the new telephone is $165.00 per unit. The markup demanded by retailers is 50%. Based on cost factors, write a brief rationale for acceptance or rejection of the project, including any recommendations you have regarding the cost estimates. 3. (TCO C) Work Breakdown Structure WBS Speedy Computer, Inc. (SCI) is going to introduce its first laptop computer. Although SCI recognizes that it is a late entry into the market, it believes that there is room for an inexpensive product at the low end of the market. Its design process will start with a conceptual design performed concurrently with the disassembly and analysis of a select group of the competitor’s products. The best components consistent with the conceptual design will then be used as the basis for the working design.A prototype will then be developed with a focus on using components that are readily available in the marketplace. The prototype will be tested for technical performance and ease of use, and a cost estimate will be prepared to determine if the product could be profitably manufactured. If the prototype shows promise, work will begin on a marketing program and operations services, which include the development of user manuals and service programs. Manufacturing will be performed by subcontractors to the greatest extent possible to reduce risk. Final assembly and testing will be performed at SCI’s existing facilities. Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two level task and sub-task hierarchy. Provide columns showing the WBS code and activities. Number and indent the WBS codes so that the level of each activity is clearly identified. (Points : 30) 4. (TCO A) Budgeting processes and techniques A company modifies production automobiles to create custom hybrid vehicles for the high-end auto enthusiast market. They develop and build these custom designs as a single unit or at times in multiples of as many as 20 for larger orders. The orders are generated by the marketing department with help from the owners who participate in the management of the company. Each new order is assigned to a project team, which starts by making an estimate to the customer before a contract is signed. The project teams have a great deal of experience in these projects. As would be expected, the owners are hands-on and have opinions on the estimates. The marketing folks also provide suggestions on what the customer is willing to pay. What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work. 1. (TCO C) Schedule Crashing Using the network below and the additional information provided, find: (a) The crash cost per day per activity. 2. (TCO E) Responsibility Allocation Matrix Projects often cross many functional boundaries with team members reporting to different functional managers. This cross functional aspect can create problems with roles and responsibilities. You decide to use a Responsibility Assignment Matrix (RAM) to help with this situation. Your manager is wondering why you are spending your time on this tool when you already have resources assigned to tasks in your schedule. (a) Why is the RAM such an effective tool for Project Managers? 3. (TCO E) Resource Allocation/Leveling The following data were obtained from a project to design a new software package: The software manufacturer has only the above personnel available for the project. Additional personnel can be hired from an agency at an 80% cost premium if needed. (a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the personnel in conflict, and the number of people involved. (b) Note that operations can be split if required: what is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred? (Points : 30) 1. (TCO G) Estimate At Completion forecast (EAC) A project has been estimated to take eight weeks and cost $65,000. The critical path is A – D. Cost and earned value data are provided below: (i) Calculate the Estimate At Completion (EAC) considering future performance will be back on schedule and budget. (ii) Calculate EAC considering that the project will continue to perform as it has to date. (iii) Using either of these two numbers discuss the status of the project and if the project manager needs to take corrective actions. Justify your comments. (Points : 30) 2. (TCO D) PMIS and cost accounting We have discussed extensively over the past eight weeks the benefits, tools, and methodologies to project monitoring and control. Effective project monitoring requires access to projects data, and therefore a Project Cost Accounting System (PCAS) is essential. (a) What are the primary types of data collected by such a system? 3. (TCO F) Earned Value The following data were obtained from a project to design a new software package: (a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E. (b) Write a brief analysis of the status of the project at this time, including task level, project level, and critical path.
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PROJ 592 Final Exam (Set 2) (Devry)
http://www.fres-courses.com/product/proj-592-final-exam-set-2-devry |
PROJ 592 Final Exam (Set 2) (Devry) 1. (TCO B) Estimating Procedures (b) In addition to price fluctuations, you are also uncertain of how much of the material will be required for the project. Scope changes and site conditions will affect the amount of material actually needed. The most likely amount required is 36 tons. However, as little as 28 tons or as much as 56 tons might be required. (c) Using the estimates from (a) & (b) what is the expected cost for the material over the life of the project using the COMPLEX method? (Points : 30) 2. (TCO B) Contingency Allowance: You are a project manager for the development of Motorola’s new 4G, HD, Touch Screen Cell Phone which is supposed to take the cell phone industry by storm. Listed below are the initial cost estimates for the materials and labor for one of the phones: (a) What contingency cost budget do you recommend for the product? (b) The target retail price for the new telephone is $165.00 per unit. The markup demanded by retailers is 50%. Based on cost factors, write a brief rationale for acceptance or rejection of the project, including any recommendations you have regarding the cost estimates. 3. (TCO C) Work Breakdown Structure WBS Speedy Computer, Inc. (SCI) is going to introduce its first laptop computer. Although SCI recognizes that it is a late entry into the market, it believes that there is room for an inexpensive product at the low end of the market. Its design process will start with a conceptual design performed concurrently with the disassembly and analysis of a select group of the competitor’s products. The best components consistent with the conceptual design will then be used as the basis for the working design.A prototype will then be developed with a focus on using components that are readily available in the marketplace. The prototype will be tested for technical performance and ease of use, and a cost estimate will be prepared to determine if the product could be profitably manufactured. If the prototype shows promise, work will begin on a marketing program and operations services, which include the development of user manuals and service programs. Manufacturing will be performed by subcontractors to the greatest extent possible to reduce risk. Final assembly and testing will be performed at SCI’s existing facilities. Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two level task and sub-task hierarchy. Provide columns showing the WBS code and activities. Number and indent the WBS codes so that the level of each activity is clearly identified. (Points : 30) 4. (TCO A) Budgeting processes and techniques A company modifies production automobiles to create custom hybrid vehicles for the high-end auto enthusiast market. They develop and build these custom designs as a single unit or at times in multiples of as many as 20 for larger orders. The orders are generated by the marketing department with help from the owners who participate in the management of the company. Each new order is assigned to a project team, which starts by making an estimate to the customer before a contract is signed. The project teams have a great deal of experience in these projects. As would be expected, the owners are hands-on and have opinions on the estimates. The marketing folks also provide suggestions on what the customer is willing to pay. What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work. 1. (TCO C) Schedule Crashing Using the network below and the additional information provided, find: (a) The crash cost per day per activity. 2. (TCO E) Responsibility Allocation Matrix Projects often cross many functional boundaries with team members reporting to different functional managers. This cross functional aspect can create problems with roles and responsibilities. You decide to use a Responsibility Assignment Matrix (RAM) to help with this situation. Your manager is wondering why you are spending your time on this tool when you already have resources assigned to tasks in your schedule. (a) Why is the RAM such an effective tool for Project Managers? 3. (TCO E) Resource Allocation/Leveling The following data were obtained from a project to design a new software package: The software manufacturer has only the above personnel available for the project. Additional personnel can be hired from an agency at an 80% cost premium if needed. (a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the personnel in conflict, and the number of people involved. (b) Note that operations can be split if required: what is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred? (Points : 30) 1. (TCO G) Estimate At Completion forecast (EAC) A project has been estimated to take eight weeks and cost $65,000. The critical path is A – D. Cost and earned value data are provided below: (i) Calculate the Estimate At Completion (EAC) considering future performance will be back on schedule and budget. (ii) Calculate EAC considering that the project will continue to perform as it has to date. (iii) Using either of these two numbers discuss the status of the project and if the project manager needs to take corrective actions. Justify your comments. (Points : 30) 2. (TCO D) PMIS and cost accounting We have discussed extensively over the past eight weeks the benefits, tools, and methodologies to project monitoring and control. Effective project monitoring requires access to projects data, and therefore a Project Cost Accounting System (PCAS) is essential. (a) What are the primary types of data collected by such a system? 3. (TCO F) Earned Value The following data were obtained from a project to design a new software package: (a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E. (b) Write a brief analysis of the status of the project at this time, including task level, project level, and critical path.
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PROJ 592 Final Exam (Set 2) (Devry)
http://www.fres-courses.com/product/proj-592-final-exam-set-2-devry |
PROJ 592 Final Exam (Set 2) (Devry) 1. (TCO B) Estimating Procedures (b) In addition to price fluctuations, you are also uncertain of how much of the material will be required for the project. Scope changes and site conditions will affect the amount of material actually needed. The most likely amount required is 36 tons. However, as little as 28 tons or as much as 56 tons might be required. (c) Using the estimates from (a) & (b) what is the expected cost for the material over the life of the project using the COMPLEX method? (Points : 30) 2. (TCO B) Contingency Allowance: You are a project manager for the development of Motorola’s new 4G, HD, Touch Screen Cell Phone which is supposed to take the cell phone industry by storm. Listed below are the initial cost estimates for the materials and labor for one of the phones: (a) What contingency cost budget do you recommend for the product? (b) The target retail price for the new telephone is $165.00 per unit. The markup demanded by retailers is 50%. Based on cost factors, write a brief rationale for acceptance or rejection of the project, including any recommendations you have regarding the cost estimates. 3. (TCO C) Work Breakdown Structure WBS Speedy Computer, Inc. (SCI) is going to introduce its first laptop computer. Although SCI recognizes that it is a late entry into the market, it believes that there is room for an inexpensive product at the low end of the market. Its design process will start with a conceptual design performed concurrently with the disassembly and analysis of a select group of the competitor’s products. The best components consistent with the conceptual design will then be used as the basis for the working design.A prototype will then be developed with a focus on using components that are readily available in the marketplace. The prototype will be tested for technical performance and ease of use, and a cost estimate will be prepared to determine if the product could be profitably manufactured. If the prototype shows promise, work will begin on a marketing program and operations services, which include the development of user manuals and service programs. Manufacturing will be performed by subcontractors to the greatest extent possible to reduce risk. Final assembly and testing will be performed at SCI’s existing facilities. Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two level task and sub-task hierarchy. Provide columns showing the WBS code and activities. Number and indent the WBS codes so that the level of each activity is clearly identified. (Points : 30) 4. (TCO A) Budgeting processes and techniques A company modifies production automobiles to create custom hybrid vehicles for the high-end auto enthusiast market. They develop and build these custom designs as a single unit or at times in multiples of as many as 20 for larger orders. The orders are generated by the marketing department with help from the owners who participate in the management of the company. Each new order is assigned to a project team, which starts by making an estimate to the customer before a contract is signed. The project teams have a great deal of experience in these projects. As would be expected, the owners are hands-on and have opinions on the estimates. The marketing folks also provide suggestions on what the customer is willing to pay. What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work. 1. (TCO C) Schedule Crashing Using the network below and the additional information provided, find: (a) The crash cost per day per activity. 2. (TCO E) Responsibility Allocation Matrix Projects often cross many functional boundaries with team members reporting to different functional managers. This cross functional aspect can create problems with roles and responsibilities. You decide to use a Responsibility Assignment Matrix (RAM) to help with this situation. Your manager is wondering why you are spending your time on this tool when you already have resources assigned to tasks in your schedule. (a) Why is the RAM such an effective tool for Project Managers? 3. (TCO E) Resource Allocation/Leveling The following data were obtained from a project to design a new software package: The software manufacturer has only the above personnel available for the project. Additional personnel can be hired from an agency at an 80% cost premium if needed. (a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the personnel in conflict, and the number of people involved. (b) Note that operations can be split if required: what is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred? (Points : 30) 1. (TCO G) Estimate At Completion forecast (EAC) A project has been estimated to take eight weeks and cost $65,000. The critical path is A – D. Cost and earned value data are provided below: (i) Calculate the Estimate At Completion (EAC) considering future performance will be back on schedule and budget. (ii) Calculate EAC considering that the project will continue to perform as it has to date. (iii) Using either of these two numbers discuss the status of the project and if the project manager needs to take corrective actions. Justify your comments. (Points : 30) 2. (TCO D) PMIS and cost accounting We have discussed extensively over the past eight weeks the benefits, tools, and methodologies to project monitoring and control. Effective project monitoring requires access to projects data, and therefore a Project Cost Accounting System (PCAS) is essential. (a) What are the primary types of data collected by such a system? 3. (TCO F) Earned Value The following data were obtained from a project to design a new software package: (a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E. (b) Write a brief analysis of the status of the project at this time, including task level, project level, and critical path.
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