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Q1) Since the hospital's project budgeting approach is under the microscope due to several large, public budget overruns, Walter is asking you for very concrete three-point/range estimates and budget numbers. You are able to get good "most-likely" estimates from your team for the work they are doing, but the largest numbers (and most unknown right now) are the vendor estimates. You could develop some estimates based on your vendor experiences from the private hospital, but you know those numbers are on the high end of the cost range. You and Walter discussed this during your last face-to-face status meeting. He was not comfortable using just those numbers (although that would make the project appear to come in under budget) and wanted to have numbers that are more likely. He asked you to follow up with him via e-mail detailing the approach you will take. You suspect that he will enhance the e-mail and send it to the CFO in response to the CFO's concerns.
Using your knowledge of the case study, prepare the e-mail you will send Walter that describes your approach to defining the project budget. Be sure to clearly define your approach for obtaining estimates for the 10 vendors that may be used on the project. Remember that you have not selected the vendors yet, but you do have a list of 50 possibilities.
Separate tasks into sub-tasks, and a work package with stated durations and order of precedence. Manage project scope throughout the project life cycle.
What are some benefits of dealing with a national labor market? What are some risks? Should a business ever avoid dealing with a national labor market? What would be an example?
Different countries may have different laws and maybe some of their safety standards may be lower than ours.
Explain the rationale behind time and cost estimation methods and why you would chose one method over another.
Correlation of the project cash flows with cash flows from currently existing projects. Cash flows are not correlated with the cash flows from existing projects.
To develop a schedule for a project, we will use the concept of a project network, which shows work activities taken from the work breakdown structure.
Ensure that project goals support corporate strategies.
Both machines are in the 4 year MACRS class, with depreciation amounts of 15%, 45%, 33% and 7%. What are the Operating Cash Flows in the first year (Year 1) with the new machine?
Depreciation is based on the asset cost plus all of the following except:
Include also into discussion the phenomenon of supply vs. demand in US health care, resource allocation (human and financial resources), and the associated ethical dilemmas.
Given the goal of increasing capacity for passengers and cargo in the Hong Kong area, what options were available?
Criticism of traditional measures of performance
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