Information Technology Project Management
9th Edition
ISBN: 9781337101356
Author: Kathy Schwalbe
Publisher: Cengage Learning
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1. Discuss why many IT professionals may disregard project cost management and how this may impact their ability to finish projects on time and on budget.
Explain what happens during the budgeting process for the project.
2. What exactly is a sunk cost?
Give instances of typical sunk costs for an IT project, as well as personal ones.
Why is it so tough to ignore them when they should?
Explain why many IT professionals may overlook project expenditure management and the effect this may have on project completion. Explain the budgeting method for the project. What are sunk costs? Provide examples of both typical IT sunk costs and individual sunk costs. Why is it so difficult to disregard them?
How does requirement analysis help in reducing project risks and costs?
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- Justify the reasons why many IT professionals could ignore project expenditure management and how that can affect project completion. Provide an example of the budgeting process that will be used for this project. Second, define "sunk cost." Please provide some examples of both general sunk costs in IT and your own unique sunk costs. The difficulty of ignoring them begs the question: why?arrow_forwardAccording to the Project Management Institute (PMI), project managers must coordinate ________ areas of expertise. a. three b. five c. seven d. ninearrow_forwardWrite a paper summarizing key information available on the Project Management Institutes website (www.pmi.org). Also read and summarize two recent reports from PMI, including Pulse of the Professions: The High Cost of Low Performance (2014). Note: Instructors can break this into two exercises by specifying the second report.arrow_forward
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