Which one of the following statements best defines an estimate? The value of useful work done at any given point in a project to give a measure of progress. An approximation of project time and cost targets, refined throughout the project life cycle. O A situation that affects or influences the outcome of the project expressed in time or cost terms. A prediction of a future condition or event based on information or knowledge available now.
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- In the opening of this week's chapter, the author references a study reported in the Harvard Business Review which exposed the prominence of cost overruns in IT projects. Research an IT project that went over the estimated budget. In your post, report why the project incurred an overrun and what could have been done differently to avoid this overrun. At minimum, your post should be 150 words.Mary is a project manager at a consulting company. The company regularlybuilds teams to create products for clients. When the product is delivered,the team is dissolved and assigned to other projects. What kind oforganization is she working for?A. ProjectizedB. Weak matrixC. FunctionalD. Strong Matrix An important part of performing stakeholder analysis is documentingquantifiable expectations. Which of the following expectations isquantifiable?A. The project must improve customer satisfactionB. The project should be higher qualityC. The project must yield a 15% reduction in part costD. All stakeholders needs must be satisfiedDuring 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 period
- Actual Costs for a project so far are $50,000, and the Estimate to Complete is $50,000. If a project’s Budget at Completion was originally $120,000, what is the Variance at Completion? Selected Answer: $70,000 Answers: $50,000 $20,000 -$20,000 $70,000Joe 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…Every project has some level of risks, and a Project Manager must plan for these risks, whether known or unknown. As the project manager of OPS, explain to your sponsor what risks exist for the project and how you would plan for or respond to them. If the CRM software project is implemented it will help to keep and maintain customer data, report about project situations, and adapt the input data to develop the business in alignment with Grace’s strategic goals.
- To obtain reasonable assurance about the completion of the project within the timeline, the best method is which of the following? A. To interpolate the end date based on completed work and resource availability B. To obtain affirmation from the project manager about the project completion date C. To compare the estimated end date and estimated time for completion of the project D. To extrapolate the end date based on completed work and resource availability.What happens as you increase the number of people working on a project from three to six?a. The project will get done twice as quickly.b. The communication requirements for the project double.c. The project might or might not be accelerated.d. The communication requirements for the project increase by far more than 2x.e. The project will get done twice as quickly and the communication requirements for theproject double.f. The project might or might not be accelerated and the communication requirementsfor the project increase by far more than 2x.Which of the following BEST describes when you perform the Monitor andControl Project Work process?A. As soon as every deliverable is completedB. Continuously throughout the projectC. At scheduled milestones or intervals during the projectD. At the end of every project phase Which of the following is NOT an output of Monitor & Control ProjectWork?A. Requested changesB. Recommended defect repairC. Recommended preventive and corrective actionsD. Approved changes
- One of the main outputs of project cost management is cost estimate. Project managers normally prepare several types of cost estimates for most projects. Examine the situations where you would prepare rough order of magnitude (ROM), budgetary and definitive cost estimates for an information technology project. Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×Bobby is an employee of a publicly traded corporation, and holds stock and stock options. As a member of the product development team, he has been working on the design of a new product at the company. For its part, the company has been pinning most of its future economic hopes on thesuccess of the release of the product. However, the development of the product has not gone public yet. The company is keeping the entire project a complete secret until it releases it publicly. The company has been so secretive about the new product that no one but Bobby knows the releasedate yet. When Bobby realizes this, he decides to use this information to profit heavily by purchasing as much stock as he can afford in the company right before the product goes public. Then, when the stock prices rise after the successful release of the product, he plans to sell it all. What kinds of information are considered "material information" when discussing insider trading? Would the information Bobby used to…Which of the following statements is incorrect?(a) Economic decisions arc time-invariant.(b) Time and risk arc the most important factors in any investment evaluation.(c) For a large-seal!! engineering project. engineers must consider the impact of the project on the company·s financial statements.( d) One of the primary roles of engineers is to make capital expenditure decisions.