Evaluate the below statement according to the project management terminologies and choosethe correct answer:It is the process of making a forecast or precise approximationChoose...of time and cost associated with a work package or activity.Graphically describes a project consisting of well-definedChoose..activities, the completion of which marks its end.One of the Perform Quantitative Risk Analysis process has aChoose..Tools and Techniques.Useful for building accountability through assigning specificChoose..tasks to team members.It is the standard format each path through the network mustbe continuous with no gaps, discontinuities, or danglingChoose...activities.Organizational Assets, Project Scope Statement, CostManagement Plan and Schedule Management Plan are inputsChoose..of:Choose...Work Breakdown StructureExpert JudgmentBar chartEstimatingA horizontal diagram formatPlan Risk Management

Project management is - the process of conducting the task of a team to accomplish all project…

Answered: Evaluate the below statement according…

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 company was replacing the single-use plastic bags with cloth bags. However, the selected fabric is on backorder and will not be in stock for three weeks. The vendor suggested using another fabric that is in stock, but it is less sturdy than the original choice.If the company decides to wait until the original fabric is available, this will change the __________ of the project. a.) cost b.) scope c.) quality d.) timeline
hi can you help me finding a positive risks other than increased attendance for Organising a fan convention at a university. This could be to organise an event/concert that could connect students/staff with a celebrity of their liking. 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. • 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 I just need one positive risks Thanks in advance
Identify any 10 risks related with the management of IT projects.Define project risk management and outline the essential steps that must be taken?
Analyze the characteristics of a project that calls for a predictive approach to the SDLC, and the one that calls for adaptive approach.
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?
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?
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Why is EVM not used more? Explain how it can manage budgets and evaluate project performance. How do you evaluate cost variation, schedule variance, cost performance index, and schedule performance index figures?
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The following information relates to a project (task times are in weeks). Use the information to solve for the critical path and then to determine the probability that the project could be completed within 36 weeks. Task A B C D E F Preceding Tasks to 4 4 2 None A B D, E tm 6 7 7 8 13 9 8 0 W CON 6 tp 8 10 12 18 15 10 Click the icon to view the table of standard normal probabilities. The probability that the project is completed within 36 weeks is. (Enter your response rounded to four decimal places.)
What are the two common approaches in considering the risk elements in a project evaluation?
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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