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- The cost component of a project must be carefully planned and managed throughout the life of a project. First, establish the budget for the project. The selection of vendors involves a careful process of considering reputation, scope, and time required to complete. Furthermore, risks and uncertainty should be included in the plan. As the project progresses, costs need to be monitored and controlled. Due to the COVID-19 pandemic, in general, project costs have increased. What are some of the considerations that should be included in the budget?How do you manage project problem crises during controlling phase?Two weeks after New Orleans was devastated by Hurricane Katrina, you made the decision to postpone the conference and select a different city to hold the conference Based on your initial objectives and a survey you took of the registered attendees, you created the following consequence table based on the information available ALTERNATIVES Cancel conference for this yearâschedule for next year Keep in New Orleans, but schedule for a later date (when the hotels re-open) Keep same dates, but move to another city Move to another city and schedule for a later date OBJECTIVES Maximize attendance Does not meet objectiveSenior management stated that cancelling is not an option Does not meet objectiveUncertainty on when New Orleans will be back in business is too far off Does not meet objectiveCost and logistics of finding a new location and getting attendees to change flights with such short notice is cost prohibitive Meets objectiveIn a survey…
- Project Managers are often required to report on the conduct of their projects. The reporting is usually done at regular intervals, such as weekly status reports to the project Sponsor, monthly reports to the executive team on some sort of dashboard, and perhaps to the project team at major milestones. Create a table that displays the requirements and advantages of status reporting for each of the following roles: ⢠Board of directors ⢠Executive sponsor ⢠Business partner ⢠Project manager ⢠Team leads ⢠Project management Trainer ⢠Key vendor ⢠Stockholder. APA referencesAt times, in order to monitor the project planning, a project manager can resort to the development of a project planning by starting at the end of the project and back to the beginning. Which allows the project manager and try to identify and measure the length of the tasks that will potentially require up to the period of time the project is scheduled to take. Although this might seem to be a rational solution to preparing a project plan, the use of this tactic may significantly decrease the likelihood that the project meets its deadline. If you think that this strategy is right to build a project schedule? Talk about the rationale behind your reply. Discuss that this plan will significantly reduce the likelihood that the project would reach its deadlineGloria and Lakeisha are co-workers who are assigned to work on a project together. Lakeisha is very organized and wants them to do really well on this project. To help them get started, Lakeisha took some initiative and prepared a list of to-do items along with due dates. She even color-coded the list to indicate which partner will do each item and sends an email to Gloria with the to-do list. Lakeisha wants her partner to know that she’s serious about their success. Gloria is happy her teammate has shown initiative but is surprised by Lakeisha’s to-do list and feels a bit uncomfortable because she feels like Lakeisha is micromanaging her. Gloria wants to do her part on the project but is feeling anxious because she doesn’t know where she fits in, and it is making her worried about working on this project. She wonders how she can succeed on this project if Lakeisha is already the leader. When working for a previous employer, Gloria felt anxious about her ability to successfully…
- There is no need to profile the target beneficiary when planning for a program or project True FalseDuring the risk identification method, you listed those threats. Any of the main players of the project were also active in identifying danger incidents. In addition, you and the partners require many records to record known risk incidents. Which of the above helps to track and convey perceived threats inside the project? Select the correct announcement. A. B Register of Risks Estimates of activity costs C. Stakeholder Registry D. Forecasts of activity periodJoe and Noël have just gotten engaged. Seeing as they are both business students, they thought that they’d try to plan out their wedding preparation as a project. Here’s the WBS they’ve determined is necessary for a simple but elegant wedding. Assume all durations are deterministic. Although perhaps not realistic to real wedding planning, use the standard calendar in ProjectLibre (use default working days in software). Based on the project you created, answer the following questions. Please note that each question is independent and not built upon each other. a) If Joe and Noël start wedding planning on January 1, 2023, when is the wedding day? b) What is the critical path? List all critical tasks in chronological order. c) Will the critical path change if Noël decides she needs two extra weeks for the Bridal Diet? If yes, what is the new critical path and when should the wedding be held? d) Assume that band auditions take twice as long as expected. Does this affect the…
- Although project costs are generally estimated on the initial assumption that there will be no modifications in design that would necessitate changes in the physical work or relative changes in domestic or international prices, sound project planning requires that provisions called contingency allowances be made in advance for possible adverse changes in physical conditions or prices that would add to the baseline costs. Discus the two categories of contingency allowances provided for in project planning.Project Mini-Case - Enterprise PMO Business Case Executive SummaryMini-Case 1 develops a preliminary Enterprise Project Management Office (PMO) Business. Development of a preliminary business case utilizing a PMO. Include all required sections: Clarify and fully explain the recommendations and why. Demonstrate a synthesis of concepts of the PMBOK guidebook. Tailor the Enterprise PMO Business Case Executive Summary to the case scenario and the recommended PMO type. Please include at least one chart, table, or diagram and explain the information contained in the body of the business case (refer to the chart, table, or graph in the body of the business case where it is relevant). At a minimum, the Enterprise PMO Business Case must include (not necessarily in this order):• Business Needo What are the problems to resolve?o What opportunities may the PMO aid in seizing?o What are the goals of the PMO?o Why should executives fund and approve this project? • Benefitso What are the…A company was replacing the single-use plastic bags with cloth bags. However, the selected fabric is on backorder and will not be in stock for three weeks. The vendor suggested using another fabric that is in stock, but it is less sturdy than the original choice.If the company decides to wait until the original fabric is available, this will change the __________ of the project. a.) cost b.) scope c.) quality d.) timeline