Essay on Week 3 Quiz

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Question 1. Question : (TCO B) Good project cost estimations are critical to a successful project. With that in mind, compare and contrast parametric estimating and vendor bid analysis as cost estimation techniques on a project. Please provide an example of each. Instructor Explanation: Both are project estimating tools. Parametric estimating looks at a cost per some metric, such as cost per square foot. Vendor bid analysis evaluates responses to RFP bids to determine the cost estimations for the project. This technique is typically used on projects in which the buyer does not have the time or expertise to determine cost and duration estimates on the project. Students must provide an estimate of each. Question 2.…show more content…
Instructor Explanation: WBS Code / Activity 0.0 Environmental clean-up project 1.0 or 1.1 Design 1.1 or 1.1.1 Alternative evaluation 1.2 or 1.1.2 Conceptual design 1.3 or 1.1.3 Pilot test 1.4 or 1.1.4 Final design 2.0 or 1.2 Subcontracting 2.1 or 1.2.1 Specifications 2.3 or 1.2.3 Contractor selection 2.4 or 1.2.4 Contract execution 3.0 or 1.3 Installation 3.1 or 1.3.1 Recovery well 3.2 or 1.3.2 Piping 3.3 or 1.3.3 Treatment equipment 3.4 or 1.3.4 Start-up 4.0 or 1.4 Performance monitoring 4.1 or 1.4.1 Discharge sampling 4.2 or 1.4.2 Monitoring well sampling WBS numbering on the left is traditional. Numbering the right is MS Project WBS numbering. The students can use either system. Question 3. Question : (TCO E) You are assisting on a project for your organization. An RACI has been created for your project. Your project manager has asked you to interpret the below RACI. Project Name: New marketing campaign RACI Activity PM IT Market Test Group Marketing Sponsor Account Manager 1.1.1 Create new layout A R R C 2.1.1 Design campaign A R 3.1.1 Test market R A 4.1.1 Roll out campaign R I A Instructor Explanation: For activity 1.1.1: Marketing and IT are to do the work, and the PM is accountable for the results. The account manager is to be consulted. For activity 2.1.1: Marketing is to do the work and the PM is

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