how many weeks to complete the project? There is an 80 percent chance the project below can be completed in x weeks or less.MOSTACTIVITY OPTIMISTIC2BABCDEX4786DMOSTLIKELY1281EMOSTPESSIMISTIC10491111What is x? (Do not round intermediate calculations. Round your answer to the nearest whole number.)

A network diagram related to the project shows the sequence of the task that is performed to…

Answered: What is x? (Do not round intermediate…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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With respect to project cost performance, if the Cost Variance (CV) is positive: CPI will be 1 CV will be 0 both above neither of the above
MODELLING AND SIMULATION 1. Do we need to criticize someone’s ideas during a brainstorming session? Support your opinion. 2. Is it possible to conduct all the orientation activities in a single visit? Why? 3. How do project parameters affect the simulation?
Project managers always try their best to conform to all the elements and avoid uncertainty in project management with the hope to ensure success in their undertaking. However, nobody can predict the future and project managers are not spared by the fact that anytime, there will be challenges that may get in the way and cause some fear and uncertainties during the project development. We can never be certain of the future but project managers overcome these challenges by planning ahead of time. They can start the project early so that they can address any problem that gets in the way and resolve it the soonest time possible. As the saying goes, without a plan, you are planning to fail. However, not all plans work which is why they say, if plan A fails, be ready for plan B. At other times, proficient and experienced managers use decision milestones. With this strategy, they can anticipate possible risks and use risk management in preventing disasters from happening. However, even if…
You are managing a project with a total budget of $450,000. According to theschedule, your team should have completed 45% of the work by now. But atthe latest status meeting, the team only reported that 40% of the work hasactually been completed. The team has spent $165,000 so far on the project.How would you BEST describe this project?A. The project is behind schedule and within its budgetB. The project is ahead of schedule and within its budgetC. The project is ahead of schedule and over its budgetD. The project is behind schedule and over its budget Which of the following is the correct order of the Monitoring & Controllingprocesses for Scope Management?A. First Scope Verification, then Scope ControlB. There is not enough information to decideC. First Scope Control, then Scope VerificationD. Both happen simultaneously
Since the project that is referred to in Question 1 involve innovative technology andinherent uniqueness, managing uncertainty and risks on the project is of utmostimportance. How will you plan risk management and identify risks on the project?What possible risk response strategies can you use for negative risks.
Assume all cash flows occur at the end of each period. a. What is the net present value (discounted at 8%) of this project? Consider all costs and expected revenues. (Enter your answer in thousands of dollars. Perform all calculations using Excel. Do not round any intermediate calculations. Round your answer to the nearest thousand.)
Estimating project costs seems to be the main problem for Project 14321. You are to advise a reward mechanism for TSC management that will help with improving project cost estimation
Project planning requires four main elements to be estimated i) mentione those elments ii) ndicate your answer with an example to explain how to estimate thise four mail elements
2. Compute the followings: (a) The probability that the project will finish by the end of day 50 (b) The probability that the project will finish at day 52 (c) The probability that the project will finish before the start of day 49. (d) The completion date with at least a 95% confidence level
Read the article and answer the questions. Should this project be terminated? Why/why not? Richard Branson is worth $5 billion. How does he measure the "value" of this project?
Explain the importance of taking time to review lessons learned at every project’s end. Select two project closure agenda items below and explain how the lessons learned from each item can be applied to future projects. Challenges: This agenda item will cover the project’s major challenges and whether or not they were properly managed. Budget: This agenda item will cover whether or not the budget was managed effectively. The discussion will cover the tools, processes, and procedures used for budget management. Scope: This agenda item will cover project scope management and the change control process during the project. Risks: This agenda item will cover whether risks were tracked and managed, and whether ways to manage risks were effectively identified. Communication: This agenda item will cover the project communication’s effectiveness through reports, team meetings, ad hoc meetings, etc.
Results may enhance project scope or provide new features. Please provide examples to help us distinguish the two concepts. What do you believe causes these two issues? What would happen if these two unfavorable events occurred simultaneously, making this endeavor the worst-case scenario?

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