1. There are many criteria to measure project success: the objectives of the triple constraint (scope, cost, & schedule), project efficiency, impact on customer, impact on the organization, etc. Which of these project success criteria do you think is the most important, and why?
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- Use the information in this table to calculate the weighted score for project 2 Criteria Weight Project1 Project2 Project3 Project4 Supports of key business objectives 5% 90 90 50 20 Has strong internal sponsor 10% 70 90 50 20 Has strong customer support 5% 50 90 50 20 Realistic level of technology 10% 25 90 50 70 Can be implemented in one year or less 30% 20 20 50 90 Provides positive NPV 10% 50 70 50 50 Has low risk in meeting scope, time, and cost goals 30% 20 50 50 90Critically assess and comment on the success of the project from the followingviewpoints: a. Level or degree of alignment of end results and outcomes to the organization’sstrategic goals.b. Level of success in the management of the triple constraints of time, cost, andscope.1) List and explain the phases that mark the life of a project. 2) For each project phase identified in 1(a) above, describe at least four (4) projectactivities/processes performed in the phase. 3) With the use of a diagram, show (illustrate) the typical levels of uncertainty or projectrisks associated with each phase and throughout a project.
- Project Cost. 1. Discuss project cost relative to project planning. 2. In which phase is the cost completed in the project life cycle? 3. Explain the Determine Budget process.2. Evaluate project alternatives by applying engineering economic principles and methods and select the one that is economically efficient 3. Deal with risk and uncertainty in project outcomes by applying the basic economic decision-making concepts. In our Course Outcome 2 and 3, explain why do we have to evaluate project alternatives when it comes to selecting the best project or decision? How can we apply engineering economic principles in dealing with risk and uncertainty in our real life and in our future careers . Site one situation.1. List and explain the phases that mark the life of a project 2. For each project phase identified in 1(a) above, describe at least four (4) projectactivities/processes performed in the phase. 3. With the use of a diagram, show (illustrate) the typical levels of uncertainty or projectrisks associated with each phase and throughout a project. 4. With the use of a diagram, show (illustrate) the typical levels of project staffingrelated to each phase and throughout a project 5. For each project phase identified in 1(a) above, identify and describe at least one (1)major deliverable (output) of the phase. please answer number 4 and 5
- 1) List and explain the phases that mark the life of a project. 2) For each project phase identified in 1(a) above, describe at least four (4) projectactivities/processes performed in the phase. 3) With the use of a diagram, show (illustrate) the typical levels of uncertainty or projectrisks associated with each phase and throughout a project. 4) With the use of a diagram, show (illustrate) the typical levels of project staffingrelated to each phase and throughout a project. 5) For each project phase identified in 1(a) above, identify and describe at least one (1)major deliverable (output) of the phase. Please to answer questions 2 and 33. What is project management? Briefly describe the project management framework, providing examples of stakeholders, knowledge areas, tools and techniques, and project success factors. 4. What is a program? What is a project portfolio? Discuss the relationship between projects, programs, and portfolio management and the contributions that each makes to enterprise success.Illustrate with example the following Project Selection Methods:- 1 - Numeric Method - Benefit Measurement Model ; Mathematical Model - Include All types 2 - Non Numeric Method - Sacred Cow; Operating Necessity ; Murder Board ; Competitive Necessity 3 - Pay Back Period ; Benefit Cost Ratio ; Present Value ; Net Present Value ; IRR ; ROI ; Score Model Weight
- The importance of creating a plan is to ensure that the project goals are defined and met. Also, it is crucial to understand that projects are living activities—circumstances change, risks that previously identified become a reality, and obstacles that were not previously identified come to light. Those are only a few reasons why project plans need to adapt to changes in the project environment. Describe a time when you participated in a project and how it was or could have been affected by cost and schedule.Briefly explain the goal of the project then discuss the importance of the following in a Project Proposal, providing two examples for each element: A. Expected benefits. B. Risksusing examples, distinguisg between: 1. Direct aand indirect project costs. 2. Recurring and nonrecurring project costs. 3. Fixed and Variable project costs. 4. Normal and expedited project costs.