Which of the following is an example of information that a project manager should include when documenting lessons learned during a project? More than one answer may be selected. Check All That Apply Twenty percent of the supplies purchased from Vendor ABC broke during the production process Even though the supplies were less expensive per unit, it ended up costing more when factoring in the replacement units and production time The offshore partners in Russia were able to meet deadlines and submit work that was deemed to be as well done as work submitted by onshore partners Most stakeholders attended meetings via Zoom rather than in person An inclement weather event occurred during the project, forcing the plant to close for threee days, causing the project to mes es completion deadline by two days

Which of the following is an example of information that a project manager should include when documenting lessons learned during a project? More than one answer may be selected. Check All That Apply Twenty percent of the supplies purchased from Vendor ABC broke during the production process Even though the supplies were less expensive per unit, it ended up costing more when factoring in the replacement units and production time The offshore partners in Russia were able to meet deadlines and submit work that was deemed to be as well done as work submitted by onshore partners Most stakeholders attended meetings via Zoom rather than in person An inclement weather event occurred during the project, forcing the plant to close for threee days, causing the project to mes es completion deadline by two days

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter6: Statistical Inference

Section: Chapter Questions

Problem 26P: Because of high production-changeover time and costs, a director of manufacturing must convince...

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Scenario You are the project manager working on a Market Mailing project. The client informed your project team during the project planning phase that the project must be completed on time in order to sync with the launch of the new product. Also, the client informed you and the team that there is no cash reserve for the project so the project has to be completed within budget. Below is the status update that two project team members (Jennifer and Ben) put together. Based on the project's performance to date, complete the Rating Project Risk exercise on the next page. Task| Budgeted Actual Percent works Estimate Planned Planned Actual Projected| Planned to Actual Resource Resource Utilization Utilization works end date work complete complete date start start date end cost cost date to date 60 hours I $600 50 hours I $500 June 15 March June 15 120 hours / $1200 120 hours / $1200 A 30% 90 hours March 25% 30% I $900 15 30 May 15 April 8 B 30% April 1 May 30 30% 60 hours I $600 50% Rating…
Setting materials, labor, and overhead standards is challenging. If standards are set too low, companies might purchase inferior products and employees might not work to their full potential. If standards are set too high, companies could be unable to offer a quality product at a profitable price and employees could be overworked. The ethical challenge is to set a high but reasonable standard. Assume that as a manager you are asked to set the standard materials price and quantity for the new 1,000 CKB Mega-Max chip, a technically advanced product. To properly set the price and quantity standards, you assemble a team of specialists to provide input. Required Identify four types of specialists that you would assemble to provide information to help set the materials price and quantity standards. Briefly explain why you chose each individual.
Mozaic Inc. has decided to introduce a new product, which can be manufactured by either a computer-assisted manufacturing system (CAM) or a labor-intensive production system (LIP). The manufacturing method will not affect the quality of the product. The estimated manufacturing costs by the two methods are as follows: CAM System LIP System Direct Material $5.00 $5.60 Direct Labor (DLH) 0.5 DLH x $12 $6.00 0.8 DLH x $9 $7.20 Variable Overhead 0.5 DLH x $6 $3.00 0.8 DLH x $6 $4.80 Fixed Overhead* $2,440,000 $1,320,000 * These costs are directly traceable to the new product line. They would not be incurred if the new product were not produced. The company's marketing research department has recommended an introductory unit sales price of $30. Selling expenses are estimated to be $500,000 annually plus $2 for each unit sold. (Ignore income taxes.) Required: 1. Calculate the estimated break-even point in annual unit sales of the new product if the company uses the (a) computer-assisted…
The production department is proposing the purchase of an automatic insertion machine. It has identified three machines and has asked the accountant to analyze them to determine which one has the best average rate of return. Machine A Machine B Machine C $83,087.40 $73,001.40 322,364.00 276,958.00 486,676.00 Estimated average income $45,130.96 Average investment Oa. Machine B Ob. Machine C Oc. Machine A Od. Machines B and C have the same preferred average rate of return.
The production department is proposing the purchase of an automatic insertion machine. It has identified three machines and has asked the accountant to analyze them to determine which one has the best average rate of return. Machine A $43,529.50 $80,697.00 Machine B Machine C $64,675.95 310,925.00 268,990.00 431,173.00 Estimated average income Average investment Oa. Machine B Ob. Machine A Oc. Machine C Od. Machines B and C have the same preferred average rate of return.
PKPP Consultants is currently in the process of completing the systems implementation activities for converting RMCO Company’s old system to a new one. Because of unexpected Covid-19 virus and movement control order, Harry, the project manager, is concerned about finishing the project on time. The one remaining activity is testing the new computer system and subsequently eliminating the old one. Harry suggests that they can still meet their completion deadline if they use direct conversion rather than parallel conversion. Required: Assuming that you are the Chief Information System Officer (CIO) of RMCO company, how would you react to Harry’s suggestion? Discuss.
Kagle design engineers are in the process of developing a new “green” product, one that will significantly reduce impact on the environment and yet still provide the desired customer functionality. Currently, two designs are being considered. The manager of Kagle has told the engineers that the cost for the new product cannot exceed $550 per unit (target cost). In the past, the Cost Accounting Department has given estimated costs using a unit-based system. At the request of the Engineering Department, Cost Accounting is providing both unit- and activity-based accounting information (made possible by a recent pilot study producing the activity-based data). Unit-based system:Variable conversion activity rate: $100 per direct labor hourMaterial usage rate: $20 per partABC system:Labor usage: $15 per direct labor hourMaterial usage (direct materials): $20 per partMachining: $75 per machine hourPurchasing activity: $150 per purchase orderSetup activity: $3,000 per setup hourWarranty…
The production department is proposing the purchase of an automatic insertion machine. It has identified three machines and has asked the accountant to analyze them to determine which one has the best average rate of return. Machine A Machine B Machine C Estimated average income $43,866.76 $73,406.10 $62,231.25 Average investment 313,334.00 244,687.00 414,875.00
The production department is proposing the purchase of an automatic insertion machine. It has identified three machines and has asked the accountant to analyze them to determine which one has the best average rate of return. Line Item Description Machine A Machine B Machine C Estimated average income $47,060.44 $72,961.50 $73,785.60 Average investment 336,146.00 243,205.00 491,904.00 a. Machine C b. Machine A c. Machines B and C have the same preferred average rate of return. d. Machine B
The insufficient capacity of SHELLA Craft is due to the availability of manpower that the company is currently lacking. One of the supervisors in the production department, En Shauqi suggested another option to use the service of external agency to recruit and hire workers at a rate of RM30 per hour. The company also will have to pay for transportation allowance for external workers amounting RM15,000. Evaluate the above suggestion. Suggest THREE (3) qualitative factors that need to be considered if the company decided to use the service of external agency.
An operations manager is deciding on the level of automation for a new process. The fixed cost for automation includes the equipment purchase price, installation, and initial spare parts. The variable costs per unit for each level of automation are primarily labor related. Each unit can be sold for $81. As in many cases, you have the default alternative of doing nothing ($0 fixed cost, $0 variable costs). Hint: For these questions, also consider the “Do Nothing” option as a viable option when making your decision. Alternative Fixed Costs Variable Costs per Unit A $100,000 $54 B $272,000 $31 C $560,000 $20 Recommended: graph each alternative with units on the x-axis and $ on the y-axis. Also, include revenue on the chart. Identify the break-even points and points of indifference.