Project Instructions Each year at the end of summer, Outdoor Recreation Unlimited puts on a major sales event that includes live music, displays of discounted outdoor clothing and gear, food vendors and fun outdoor activities in order to sell their remaining retail and have a great time in the process. This year, your boss has given you the task of being the project manager for this event. The event will take place in three months and you'll be managing a team of five interns to help plan the event. It is your first time in a project management role and you want to prove to him that you are knowledgeable and well-equipped to take on these type of duties. He prefers to not micromanage you, but would like he and his team of executives to be aware of your plans before you start the project. To do this, he has asked that you put together a 10-15-slide PowerPoint presentation for the company's board of directors that answers the following questions: What are your cost estimates for the project? (You have an unlimited budget, but in past years, costs for this event have not surpassed $30,000.) What major milestones and timeline will you adhere to? How will you ensure quality and prepare for risks along the way? How will you manage your team assigned to this project? How you will report the status of the project? How you will measure the success of the project at its close?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Project Instructions
Each year at the end of summer, Outdoor Recreation Unlimited puts on a major sales event that includes live music, displays of discounted outdoor clothing and gear, food vendors and fun outdoor activities in order to sell their remaining retail and have a great time in the process.
This year, your boss has given you the task of being the project manager for this event. The event will take place in three months and you'll be managing a team of five interns to help plan the event.
It is your first time in a project management role and you want to prove to him that you are knowledgeable and well-equipped to take on these type of duties. He prefers to not micromanage you, but would like he and his team of executives to be aware of your plans before you start the project.
To do this, he has asked that you put together a 10-15-slide PowerPoint presentation for the company's board of directors that answers the following questions:
- What are your cost estimates for the project? (You have an unlimited budget, but in past years, costs for this event have not surpassed $30,000.)
- What major milestones and timeline will you adhere to?
- How will you ensure quality and prepare for risks along the way?
- How will you manage your team assigned to this project?
- How you will report the status of the project?
- How you will measure the success of the project at its close?
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