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PROJ 592 Final Exam (Set 2) (Devry)
http://www.fres-courses.com/product/proj-592-final-exam-set-2-devry-1 |
PROJ 592 Final Exam (Set 2) (Devry) 1. (TCO B) Estimating Procedures What is the expected price of the material? (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, and as much as 56 tons might be required. What is the expected amount of the material needed for the project? (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? 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? 3. (TCO C) Work Breakdown Structure WBS Eurocash has decided to develop a mutual fund comprised almost entirely of East European companies with a high growth potential. The process of developing a new mutual fund begins with concept development, which includes establishing a clear definition of the project’s objectives that is agreed upon by senior management and developing a marketing strategy. · A business analysis is then performed that includes assessments of market feasibility, internal feasibility (budgetary resource requirements), and regulatory feasibility. · If the proposed fund passes the business analysis, the fund design is developed. · The design process consists of product design, service design, internal review and authorization, and SEC registration (assuming a U.S. market). · As the design process nears completion, generally recognized as a positive preliminary review by the SEC, employee training is performed. · After completion of the employee training and final regulatory approval, the product is launched, and post-launch reviews are conducted at predetermined intervals. 4. (TCO A) Budgeting processes and techniques A company builds custom yachts for the high-end boating market. They develop and build these custom designs as a single individualized unit. The orders are generated by the marketing and sales 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. (Points : 30) 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) Page 3 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. (Points : 30) 2. (TCO D) PMIS and cost accounting An Earned Value system can be a very effective way to monitor projects. However, Earned Value Analysis requires a Project Cost Accounting System (PCAS). (a) What are some of the benefits of PCAS? (Points : 30) 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-1 |
PROJ 592 Final Exam (Set 2) (Devry) 1. (TCO B) Estimating Procedures What is the expected price of the material? (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, and as much as 56 tons might be required. What is the expected amount of the material needed for the project? (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? 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? 3. (TCO C) Work Breakdown Structure WBS Eurocash has decided to develop a mutual fund comprised almost entirely of East European companies with a high growth potential. The process of developing a new mutual fund begins with concept development, which includes establishing a clear definition of the project’s objectives that is agreed upon by senior management and developing a marketing strategy. · A business analysis is then performed that includes assessments of market feasibility, internal feasibility (budgetary resource requirements), and regulatory feasibility. · If the proposed fund passes the business analysis, the fund design is developed. · The design process consists of product design, service design, internal review and authorization, and SEC registration (assuming a U.S. market). · As the design process nears completion, generally recognized as a positive preliminary review by the SEC, employee training is performed. · After completion of the employee training and final regulatory approval, the product is launched, and post-launch reviews are conducted at predetermined intervals. 4. (TCO A) Budgeting processes and techniques A company builds custom yachts for the high-end boating market. They develop and build these custom designs as a single individualized unit. The orders are generated by the marketing and sales 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. (Points : 30) 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) Page 3 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. (Points : 30) 2. (TCO D) PMIS and cost accounting An Earned Value system can be a very effective way to monitor projects. However, Earned Value Analysis requires a Project Cost Accounting System (PCAS). (a) What are some of the benefits of PCAS? (Points : 30) 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-1 |
PROJ 592 Final Exam (Set 2) (Devry) 1. (TCO B) Estimating Procedures What is the expected price of the material? (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, and as much as 56 tons might be required. What is the expected amount of the material needed for the project? (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? 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? 3. (TCO C) Work Breakdown Structure WBS Eurocash has decided to develop a mutual fund comprised almost entirely of East European companies with a high growth potential. The process of developing a new mutual fund begins with concept development, which includes establishing a clear definition of the project’s objectives that is agreed upon by senior management and developing a marketing strategy. · A business analysis is then performed that includes assessments of market feasibility, internal feasibility (budgetary resource requirements), and regulatory feasibility. · If the proposed fund passes the business analysis, the fund design is developed. · The design process consists of product design, service design, internal review and authorization, and SEC registration (assuming a U.S. market). · As the design process nears completion, generally recognized as a positive preliminary review by the SEC, employee training is performed. · After completion of the employee training and final regulatory approval, the product is launched, and post-launch reviews are conducted at predetermined intervals. 4. (TCO A) Budgeting processes and techniques A company builds custom yachts for the high-end boating market. They develop and build these custom designs as a single individualized unit. The orders are generated by the marketing and sales 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. (Points : 30) 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) Page 3 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. (Points : 30) 2. (TCO D) PMIS and cost accounting An Earned Value system can be a very effective way to monitor projects. However, Earned Value Analysis requires a Project Cost Accounting System (PCAS). (a) What are some of the benefits of PCAS? (Points : 30) 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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