The goal of the time-cost trade-off methodology is: to cause the daily use of project resources to be smoother or more level to reduce the project to its shortest possible duration with the least increase in cost to keep the daily use of project resources within some specific limitation to reduce the project costs as much as possible within a given project duration

In the realm of project management, the efficient allocation of resources and the timely completion…

Answered: The goal of the time-cost trade-off…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

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

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The project manager's job is to make sure that project is properly planned, implemented and complete. Sometimes they are chosen prior to project selection also.
Incorporating project management techniques into the production process What is Project Management What are the 5 Phases of Project Management Process What are the Reasons for Project Failure Roles and Responsibilities of a Project Manager What are the Project Management Knowledge Areas the Project Management describes a structured approach to managing time, projects, resources, schedules, risks and other business aspects. It includes the following five stages: Initiating – assessing and defining the scope and goals of the Planning – developing a workflow, establishing a more detailed scope, allocating resources and building Executing – managing teams, monitoring timelines and resources, balancing stakeholder involvement. Controlling – tracking, reviewing and regulating the Closing – assessing project results, key strengths and weaknesses
Create an essay based on describe what happens in each of the five project management process groups (initiating, planning, executing, monitoring and controlling, and closing). What types of activities occur before initiating a project? The essay should have two or three pages of content
Describe the several factors that must be considered when deciding how to fund a certain project.It is vital to investigate the usage of project management software in order to reduce the total cost of the project.
At times, in order to monitor the project planning, a project manager can resort to the development of a project planning by starting at the end of the project and back to the beginning. Which allows the project manager and try to identify and measure the length of the tasks that will potentially require up to the period of time the project is scheduled to take. Although this might seem to be a rational solution to preparing a project plan, the use of this tactic may significantly decrease the likelihood that the project meets its deadline. If you think that this strategy is right to build a project schedule? Talk about the rationale behind your reply. Discuss that this plan will significantly reduce the likelihood that the project would reach its deadline
Total Cost of Ownership (TCO) is the cost of ONLY the project implementation a. True b. False
All of the following represent the purpose of the project schedule BEFORE the project starts, EXCEPT: (multiple answers can be picked) To create 'what-if' scenarios to analyze alternatives To force detailed thinking To identify the critical path To identify the needed resources To identify who needs to do what and when To keep track of the budget for the project To show the project status To establish the timeframe and organize activities 0000000
List and describe at least five key constraints of a project
suggest the best project methodology to be implemented and justify the answer
Project crashing is when you shorten the duration of a project by reducing the time of one or more tasks. Crashing is done by increasing the resources to the project, which helps make tasks take less time than what they were planned for. Of course, this also adds to the cost of the overall project. Therefore, the primary objective of project crashing is to shorten the project while also keeping costs at a minimum. What are the different options for crashing an activity when resources are not constrained ?
The entire process of project time management can be enhanced considerably by scheduling periodic meetings. What is the objective of such a meeting, and who should participate?
What are the benefits and downsides of SPI techniques, and how can one determine whether or not a certain method is suitable for a given project and business setting?

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		to cause the daily use of project resources to be smoother or more level
		to reduce the project to its shortest possible duration with the least increase in cost
		to keep the daily use of project resources within some specific limitation
		to reduce the project costs as much as possible within a given project duration