E. All choices are15-John is putting together his budget for the project and as part of this process, he is actively discussing and soliciting estimatesfrom each member of the project team for the overall budget. He presents his budget to senior management and Susan rejects it.stating, "Team members are always going to pad their estimates. I will give you the figure I want you to shoot for." Susan isemploying what method for project cost budgeting?A. Bottom-upB. Top-downC. ParametricD. Comparative

Answered: E. All choices are 15-John is putting…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Your colleague Fatima has been staying late every night to finish an important report for your boss. You know that she has missed a lot of time with her family, but she is a hard worker. She is supposed to be working on the report with her colleague Paul. You know that Paul lets Fatima do all the work and he goes home early. At the end of the week, the report is handed in to the boss and the boss is thrilled. The boss gives a big thank you to Paul and Fatima, and offers to take them both out to lunch to celebrate. What should you do?
Why do IT professionals may overlook project cost management how this might affect their ability to complete projects within budget
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?
Joe 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…
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?
If hand written ...i'll rate....plz solve it fast... Hand written plz
During the planning phase, the team is fully engaged in the development of scope of work, design criteria, key deliverables, execution strategy, project timeline, cost estimates and resource planning, however often there are important areas that could be overlooked due to time constraints or lack of focus. What are the critical aspects to oversee?
Describe the ways in which planning may be made easier by using software designed for managing projects.Describe the situation and provide the needed details as soon as possible.
Which of the following happens during the starting phase of project management? Revise budget Assign tasks. Determine completion Solve problems. Establish team rules.
Describe how project management software may be used to help with project planning.Describe and clarify the situation, as asked.
must be measured regularly to identify variances from the plan. O A. Schedule progress O B. Project performance O C. Cost O D. Stakeholder requirements
You are managing a software development project. Only 35% of the work has so far been completed, while the planned schedule called for 50% completion by this date. Originally budgeted for $250,000, the team has already spent $150,000 on the project. What is the best way to describe the state of this project? Ahead of schedule, within budget Behind schedule, within budget Ahead of schedule, over budget Behind schedule, over budget

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