Bus1040 Fall 2023 .doc

BUS1040: Introduction to Project Management Fall 2023 Mid-Term Exam Course Instructor: Costin Laurentiu The exam is 13 pages in length (including this cover), and is composed of: 1. 7 questions – total value 100 marks The exam is marked out of 100, and is worth 30% of your final mark. Available time is 180 minutes. Please answer all questions on the test sheet. **Remember that Cheating will result, at minimum, in a Grade of Zero** . Student Name: Y Dinh Thi Nhu Student ID: 101383821 Managing Trade-offs (8 marks) 1

a) If the Scope of a Project Decreases, it is reasonable to assume that the impact to: Time will be decrease d or Budget will be not changed b) If the Time of a project Increases, it is reasonable to assume that the impact to: Scope will be increase d or Budget will be not changed c) If the Budget of a project Increases, It is reasonable to assume that the impact to: Scope will be not changed or Time will be decreased d) If the Time of a project Decreases AND the Scope of a project Decreases… It is reasonable to assume that the impact to: budget will be decrease d 2

1. Profitability Models (6 marks) You are the Project Lead at a major Bank in Toronto. Your role is not only to oversee the implementation of new projects but also to assist with prioritizing projects to ensure they align with Corporate strategic objectives. Following are project concepts the Bank is considering for the following planning year. a. Based on the Payback Period, which project do you suggest the Bank undertakes and why? 1. Implement new software app for TD HR dept Payback Period = 5,000,000/ 75,000 = 6.67 years 2. Install online self-serve app for TD customers Payback Period = $750,000 / $100,000 = 7.5 years 3. Offer a promotion to TD small businesses Payback Period = 600,000/350,000 = 1.71 years It is recommended to choose the 3rd project of this series as its payback period is the lowest among all the undertakings b. Based on the average rate of return, which project would you suggest the Bank undertakes and why? 1. Implement new software app for TD HR dept Average rate of return = 25,000/ 500,000 x 100 = 5% 2. Install online self-serve app for TD customers Average rate of return =50,000/750,000 x 100 = 6.67% 3. Offer a promotion to TD small businesses Average rate of return = 100,000/600,000 x 100 = 16.67% I will suggest project 3 because this project has the highest profit margin. Investment Cash Flow Profit 1) Implement new software app for TD HR Dept $500,000 $75,000 $25,000 2) Install online self-serve app for TD customers $750,000 $100,000 $50,000 3) Offer a promotion to TD small businesses $600,000 $350,000 $100,000 3

4

2. Project Lifecycle (16 marks) To align with the rapid changes in the economy and business needs, The Centre for Business at GBC is looking to expand the number of programs offered to business students for the next school year. You have been assigned as the Project Manager on this project and the Project Sponsor has enlisted your help to develop the business case and walk her through the project management lifecycle and phases. What are the 4 typical phases (or stages) you would lead in the project lifecycle for the expansion of business programs? For each stage, explain 2 of the primary project management functions, activities or questions that you would need to complete as the project manager. The development of business plans will be carried out in four phases. These include the beginning, planning, implementation, and finalization. 1. The business case improvement stage aims to analyze the various expenses and possible advantages of the project. After gathering information about the project, the statement of work will be formulated to determine if the potential advantages exceed the expenses. The project's destination, degree, and expectations will then be reported as if they were part of the business agreement. 2. Planning of the project's distribution across various tasks and deadlines. The financial arrangement for the project must be made to determine the expected return on investment and boost its profit potential. The necessary external and internal assets for the task will also be acquired. The risk factors that can affect the project's performance and quality will be identified and mitigated for the executives. 3. The execution phase aims to transform the arrangement into a practical undertaking and evaluate its progress. Keep in touch with the collaborators and provide them with important updates and directions. Make sure that the project's schedule and quality coincide with the pre-defined objectives. Also, ensure that the utilization of resources is planned and carried out properly. 4. Carrying out a comprehensive analysis of the project's final results and developing a strategy to address the changes that will happen in the future. The project's performance is measured by the milestones that have been achieved. This includes whether the targets and objectives have been completed before the project's final delivery. A report summarizing the achievements is also generated for the collaborators. Every aspect of the project must be evaluated individually to align its schedule and work characteristics. 5

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help