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Project management short answer
1. Three main reasons that there are changes to a budget (and hence, changes to the overall budget) are: (1) errors the cost estimator made about how to achieve the tasks identified in the project plan; (2) An increased knowledge about the project's goal and deliverables causes changes to the way of thinking, leading to wholesale changes in the project; and (3) a new law, standard, or mandate occurs leading to a change in the way the project is carried out. Can you think of any other reasons why the baseline of the budget might need to be changed midstream of a project?
2. Explain the fundamental trade-offs made when deciding whether or not to crash a project. What trade-offs are made to resources if you decide to a crash a project? Can all three project factors - cost, schedule, and resources - be reduced when you crash a project? Why or why not?
Use an example to demonstrate the planning steps that should precede total program scheduling? What steps are necessary?
You are the project manager of a leading textile engineering company. The company opened its door in year 2000. Today, after 13 years of existence, it is being challenged with a loss in profitability approximating a 65% loss in net revenue
What was Salem's expected net present value for this project?
Are project audits conducted in your organization? Why or why not?
Create a description of the project's scope only as it relates to the sales and marketing activities and explain the deliverables the team will produce, what type of information it will contain, and the level of detail expected.
Determine the total cost of the proposed job. Determine the company's bid if the bid is based upon full manufacturing cost plus 30 percent.
What does this riddle have to do with project management?
Explain how does risk identification help with project contingency planning and give an example of a specific contingency plan
Different countries may have different laws and maybe some of their safety standards may be lower than ours.
How does the Work Breakdown Structure differ from the Project Network (Diagram)?
Prepare a paper presenting the overall project and how to establish the foundational areas for growth potential in data and user capability.
How sensitive is Operating Cash Flow (OCF)to changes in quantity sold? State your answer in terms of a dollar amount change (increase or decrease) in OCF for every additional unit sold.
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