What is the tool used by a project manager to check whether the resources are allocated correctly and monitor the resource utilization? Explain the advantages and disadvantages of the tool with suitable example.

Q: Baseline project budgets are derived from The organization's overall budget Time-phasing the cost of…

A: A baseline budget is the initial estimate of project costs used at the outset of a project. When you…

Q: Developing the WBS in a plan, the Project could be broken down by:     Subcontractor or Trade…

A: A work breakdown structure is a visual, hierarchical, and deliverable-oriented deconstruction of a…

Q: What is the tool used by a project manager to check whether the resources are allocated correctly…

A: There are several tools available nowadays for resource management and overall every tool is similar…

Q: Explain why earned value management (EVM) is not widely used in cost control and project success…

A: Earned Value Management is a procedure with the support of which act, progress, & cost are…

Q: The many NASA space missions, large construction projects, ERP implementations, movie productions,…

A: Specialized knowledge, abilities and tools are used to create value for others in the form of a…

Q: b) Outline the possible sources of cost and time over-runs at different stages of a typical project.

A: Despite the extensive expertise of project management, delays and cost overruns are a common…

Q: What can the project manager do to enhance interaction with other organizational departments with…

A: Inter departmental interaction is sharing of information and data between different departments to…

Q: A measure of the cost efficiency with which the project is being performed is the:     cost…

A: Cost management is a crucial aspect in the project management as it pertains to keep a regular check…

Q: Is it possible to offer value to a customer's project idea by using two unique control structures?

A: Control structures would define the complete implementation phase of the project. It is necessary to…

Q: etermine the EAC.

A: EAC stands for the estimate at completion. It is calculated by dividing the budget at completion…

Q: n project management and software development, for example, what are some examples of how the two…

A: Small Introduction about Project Management A project is usually started in response to a perceived…

Q: After the first month of a project, the Actual Cost was $400 and the planned cost for the first…

A: Given, Actual cost, AC = $400 Planned cost, BAC = $500 Work complete = 50%   a) Cost performance…

Q: Why is it important for the project manager to be accurate in the submission of pay applications?…

A: Pay applications are a crucial component of construction projects because they give project managers…