What is the project duration?
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- A project that you are managing is into six months of its accomplishment andthe planned duration is also six months. You are now reviewing the projectstatus. The actual cost of Activity A and B are RM 200,000 and RM 100,000respectively. The planned value for Activity A and B are RM 180,000 and RM80,000 respectively. The Activity A is 100% complete whereas Activity B isonly 75% complete. (a) Formulate the problem to determine whether the project is on-time and on-budget after six months using the Earned Value Analysis (EVA) method. (b) Generate the expected “cost at complete” and “time at complete” to finishthe project at this pace. (c) Present two initiatives to be undertaken by the project manager to improvethe situation based on Q4(b).An IT company must complete a project with the following tasks listed A to G. ACTIVITY NORMAL DURATION (DAYS) CRASHED DURATION (DAYS) NORMAL COST ($) CRASHED COST ($) A 7 5 500 900 B 4 2 400 600 C 5 5 500 500 D 6 4 800 1000 E 7 4 700 1000 F 5 2 800 1400 G 6 4 800 1600 The following are all the paths in the project from start to end and the durations of each: A-B-E-G : 24 days A-C-E-G : 25 days A-C-F-G : 23 days A-D-F-G : 24 days Develop a crashing schedule to show which activities should be crashed to crash the project by 4 days and the lowest cost of doing so.A project is scheduled to complete in six months duration. There are two activities in the project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 is SAR 200,000. The planned value of these activities is SAR 280,000 and 150,000 respectively. On reviewing, the current project status is Activity 1 is 100% completed and Activity 2 is only 75% completed. (i) Perform the earned value calculations of the above project scenario and fill the given table. Activity Month 1 Earned Value Planned Value Actual Cost Cost Variance Scheduled Variance Cost performance Index Schedule performance Index (ii) What do you infer about the project schedule and cost based on your calculations?
- The North Carolina Department of Transportation is undertaking a construction project to widen a large section of interstate highway near Charlotte, NC, which includes the construction of a number of new bridges, interchanges, and overpasses. The first step in the project is the appointment of a project manager and the development of a project team, some of which will be departmental employees and others will be private consultants and operatives. The team of a project of this size also requires a large support staff with varying technical skills. Once the team is selected and the staff is in place the first task is to select a primary contractor to manage and oversee the actual construction. The following table gives the standard activities required for the planning and scheduling of this process. Activity Description Predecessor Time (weeks) Optimistic a Most Likely m Pessimistic b a b c d e f g h i j k L M Select project manager Develop a team recruitment…A project consists of Six activities: A,B,C,D, E, F. A and B have no preceding activities, but activity C requires that activity B must be completed before C can begin. Activity D cannot start until both activities A and B are complete. Activity F can start any time. Activity E requires activities A and C to be completed before it can start. If the activity times are A: 10 days; B: 4 days; C: 8 days; D: 3 days, E = 2 days, and F: 1 day, * Find out the minimum time possible to complete this project. * Are there any critical path activities? Which one are those?Consider the project network pictured. Assume that the timesattached to each node are the means and the variances of the project completion times, respectively.a. Identify all paths from nodes 1 to 6.b. Which path is critical based on the expected completion times?c. Determine the probability that the project is completed within 20 weeksassuming that the path identified in part (b) is critical.d. Using independence of paths A–C–E and B–F–G only, recompute the answer to part (c).e. Recompute the answer to part (c) assuming independence of the paths identified in part (a).f. Which answer, (c), (d), or (e), is probably the most accurate?
- In making a forward pass through a network, three activities are immediate predecessors for activity T and one following activity. What is the late start time for activity T? Group of answer choices: - the LS of the following activity plus the activity time of T - the smallest EF for the three activities that are immediate predecessors for activity T - the LF of the following activity minus the activity time of T - the LS of the following activity minus the activity time of T - the largest EF for the three activities that are immediate predecessors for activity TBruno has a capital investment project that could start immediately. The project will require a machine costing $2.4 million. The total discounted value now of the cash inflows from the project will be either $2.6 million or $1.9 million with equal probability. The risk-free rate is 3%. Instead of starting immediately, the project could be delayed until one year from now to gain more market information. Its total discounted cash inflows at that time will be known as either $2.6 million or $1.9 million, with certainty. a) What is the present value of the option to delay? b) The supplier of the machine has offered to deliver it (if required) in one year's time at a price of only $2 million if Bruno pays a non-refundable deposit now. What is the maximum the firm should pay as a deposit now? What type of real option does this represent for Bruno? Identify the specific components of the option contract.The key objectives of a project can be summarized in the form of a The key objectives of a project can be summarized in the form of a multiple choice line. triangle. square. hexagon.
- The project manager is tasked with the responsibility of balancing project constraints to increase the probability of project success, and ensure that the project meets its objectives. Identify and explain at least five (5) project constraints, and explain the working of the triple constraint model of project management.Constraints in project management are some important factors that everyone must work within to achieve the project goals and unfortunately, these are unavoidable. As a Project Manager, being aware of the limitations is essential in directing project path and ultimately reaching success. That is why, by knowing project constraints is such an important task to be performed at the planning stage. There are 6 Project Constraints that we need to know. Explain the following constraints in your own words and make sure to identify 2 applications / connections / linkages of such constraint with your WBS. Write your answer on the space provided below.For this assignment, you will design a risk management plan for a project titled “prolonged waiting times for patients in a large outpatient hospital” that will include the following elements: Risk Register/Matrix (list of at least 5 (five) risks along with the associated impact and probability scores along with risk score) Contingency plan (list of any risks you will plan for in advance along with what triggers the contingency). Be sure to include any information useful to stakeholders on the rationale for the creation of these elements as well as any outside references supporting the risk management plan.