You’re managing a project with a schedule performance index (SPI) of 1.07 and a cost performance index (CPI) of 0.94. How would you BEST describe this project? A. The project is ahead of schedule and within its budget B. The project is behind schedule and within its budget C. The project is ahead of its schedule and over its budget D. The project is behind schedule and over its budget Which of the following is the BEST example of a reward system? A. Everyone will get a bonus of $500 if the project meets its quality goals, $500 if it meets its budget goals, and $600 if it comes in on time. B. The team member who works the hardest will receive $1000 C. The five team members who put in the most hours will get a trip to Disneyland D. The team will only get a bonus if the project comes in 50% under budget, schedule and quality metric goals. Even though the team leads know this goal is unrealistic, they agree that it will motivate the team to work harder”
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.
You’re managing a project with a
and a cost performance index (CPI) of 0.94. How would you BEST describe
this project?
A. The project is ahead of schedule and within its budget
B. The project is behind schedule and within its budget
C. The project is ahead of its schedule and over its budget
D. The project is behind schedule and over its budget
Which of the following is the BEST example of a reward system?
A. Everyone will get a bonus of $500 if the project meets its quality goals, $500 if it
meets its budget goals, and $600 if it comes in on time.
B. The team member who works the hardest will receive $1000
C. The five team members who put in the most hours will get a trip to Disneyland
D. The team will only get a bonus if the project comes in 50% under budget, schedule
and quality metric goals. Even though the team leads know this goal is unrealistic,
they agree that it will motivate the team to work harder”
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