21. Recently, you were assigned to manage a project to remodel the seminar room for yourcompany. You have constructed a network diagram depicting the various activities in theproject (Figure 7.130). In addition, you have asked your team to estimate the amount oftime that they would expect each of the activities to take. Their responses are shown in thefollowing table.ActivityABсDEOptimisticStart54524Figure 7.13 Network Diagram for Problem 21BDTIME ESTIMATES (DAYS)Most Likely88647FinishPessimistic11117610a. What is the expected completion time of the project?b. What is the probability of completing the project in 21 days or less?c. What is the probability of completing the project in 17 days or less?

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

Answered: a. What is the expected completion time…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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

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A) What is the variance activity B? 2 decimal places B) What is the variance of activity F? 2 decimal places C) what is the probability the project can be completed? 4 decimals places only D) what is the probability the project will be 3 weeks late from the expected completion time ? 4 decimal places only.
A project manager reports a project with a CPI of 1.08 and a SPI of .98. What do these metrics tell you about their project?
You are conducting a small IT project. The duration of this project is 30 days, and you have allocated $60,000 for it. Your manager asked you to check how the project is doing financially at the end of day 25. You have spent $40,000 and completed 95% of the work. Calculate the following values for the project so far. The cost variance (CV). The cost performance index (CPI). How is the project doing, is it under budget or over budget? Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
Why is it important for the project manager to be accurate in the submission of pay applications? What is lost if the amount requested is low? What is the risk if the amount requested is more than earned?
You are conducting a small IT project. The duration of this project is 30 days, and you have allocated $60,000 for it. Your manager asked you to check how the project is doing financially at the end of day 25. You have spent $40,000 and completed 95% of the work. Calculate the following values for the project so far. The cost variance (CV). The cost performance index (CPI). How is the project doing, is it under budget or over budget? Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
#9
Total Cost of Ownership (TCO) is the cost of ONLY the project implementation a. True b. False
What are the requirements for the better project management? and What is the need of certification in the project software?
Which 10 risks are related to IT project management?
What are the two common approaches in considering the risk elements in a project evaluation?
Based on the Mt. Kumar Road project in Grenada, critically assess in paragraph format whether or not the project was successful from the following viewpoints: a. Were the client(s) and/or users satisfied with the final project outcome(s)?b. Was the project completed on time, within scope, and on budget?c. Was the desired value or benefit realized for the organization?d. Did the project leadership demonstrate a broad commitment to financial, social, and environmental impacts of the projects?
Can you detect the risk management of the project “Organising a Fan Convention at Birkbeck. This could be to organise an event/concert that could connect students/staff with a celebrity of their liking. Identify – minimum 15 different risks • Analyse Use the probability/impact matrix and place all risks there For 5 risks, from different boxes, explain in detail why you think they have that level of probability and impact on the project. (use 1-2 slides) • Response strategies and specific response actions• Use the simplified risk register provided in the lecture and seminar• For 5 risks, propose a response strategy AND specific response actions for each of these. • At least one of these 5 risks should be a positive risk

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a. What is the expected completion time of the project? b. What is the probability of completing the project in 21 days or less? c. What is the probability of completing the project in 17 days or less?