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- 1. The key to effective cost control is to analyse cost performance on a regular and timely basis.In light of the statement above, discuss the involvement of cost control in managing a budget in a project.1. Why is necessary to identify and include stakeholders in a project? List several methods that you could use to identify stakeholders in a project? 2. What is risk management? 3. What are some ways which you could use to collect system requirements?How can stakeholders' involvement in requirement analysis help ensure project success, and what challenges may arise in this process?
- 5. If the employer "A company" has employed a consultant team to prepare a full set of drawings and specification for his new office building. Which type of contractual arrangement do you recommend to AA company for the project? Justify your suggestion.Explain the steps to be taken in order to effectively control procurements for a projectYou are to be the Contract Administrator on a project for a new facility of a five story Girne American University dormitory that houses 850 students. The engineer suggests that in the case of cost-plus contract 18, 10, 3 and 10 percent should be added to the actual labor, Renewing the roof coverings, materials, and Internal alterations costs respectively. In the case of the cost plus fixed fee contract, the fixed fee should be £40,000. In the case of the cost-plus sliding fee contract, the fee should be 14%, 12%, 10% for resulting total cost in the ranges of £300,000 to £350,000; £350,000 to £375,000 and £375,000 to £425,000 respectively. For the cost plus guaranteed ceiling price contract, the fee should be £50,000 less 35% of any actual cost above the target cost £350,000. The expected cost for superstructure and the installation of new equipment is £192,000. a) Calculate the expected total cost of the project. b) Which of the above negotiated contract to you recommend…
- Activity 1. Directions: Identify the parts of a brief proposal below. Twin Cities Gas Corporation (1) 346 Main Street Fort Worth, Texas 75051 January 25, 2019 (2) Reverend Kenneth Majors (3) Maplevale Church Grandview, Texas 75428 Dear Reverend Majors: (4) It was my pleasure to talk to you last week regarding the planned renovation of your church’s heating system. I am writing to give you the estimated savings you will realize if you select a natural gas heating system. (5) In order to supply gas to the church, a main line extension of approximately 1,000 feet will be required. Since the nearest gas line is located on North Main Street, the cost of extending this line to the church would be approximately $10,000. We at Twin Cities believe we can offer your congregation a substantial energy savings. I’ll call you early next week to see if will need any further information. In the meantime, if you have any questions, please contact me at 214-886-5412, ext. 45. Yours, (6)…You have decided to enter into a time and materials contract with a supplier for your project. The project will require two different types of labor categories, the first which charges $200 per hour and the second which charges $175 per hour. The project requires 50 hours of the first labor category and 40 of the second. You will also purchase $5,000 of tools and equipment with no fee and $25,000 of materials with a 2% fee added on. What will you owe on this contract? $47,000 $47,500 $41,750 $47.600Question #4. What is wrong with using the cost of the specific capital used to finance a project asthe discount rate in relation to that project?
- V what is feasibility Report ?Define when and why we need it And also define who prepare this document.How to Plan, direct and coordinate IT projects to ensure effectiveproject control including scope changes and project risks?urgent 1. At the conclusion of Internal Projects, an agreement with the client should be reviewed to ensure that deliverables meet—and preferably exceed—expectations, which may generate additional business. True or False