PROJECT MANAGEMENT (LOOSELEAF)-W/ACCESS
7th Edition
ISBN: 9781260216011
Author: Larson
Publisher: MCG
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Textbook Question
Chapter 5, Problem 5.2.1C
Assume you are either Mike or Josh; how would you go about making a decision using project management methodology?
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Under what conditions would the top-down approach to estimating project times and costs be the best choice?
In accordance with the decision tree structure that you created, what are the three possible choices that might be used in a project setting? Which strategy, in your view, is the most effective when it comes to gathering data and evaluating options?
What would be the result if all project managers decided to withhold a management reserve? What criteria should be used for determining when a management reserve is necessary?
Chapter 5 Solutions
PROJECT MANAGEMENT (LOOSELEAF)-W/ACCESS
Ch. 5.1A - How many labor hours should the eighth satellite...Ch. 5.1A - How many labor hours for the whole project of...Ch. 5.1A - What price would you ask for the project? Why?Ch. 5.1A - Midway through the project your design and...Ch. 5.1A - Near the end of the project, Deutsch Telefon AG...Ch. 5 - Why are accurate estimates critical to effective...Ch. 5 - Prob. 2RQCh. 5 - Prob. 3RQCh. 5 - What are the major types of costs? Which costs are...Ch. 5 - Why is it difficult to estimate mega project...
Ch. 5 - Define what a white elephant is in project...Ch. 5 - Calculate the direct cost of labor tor a project...Ch. 5 - Mrs. Tolstoy and her husband, Serge, are planning...Ch. 5 - Exercise Figure 5.1 is a project WBS with cost...Ch. 5 - Firewall Project XT. Using the complexity...Ch. 5 - At this point, what would you do if you were the...Ch. 5 - Prob. 5.1.2CCh. 5 - What estimating techniques should be used for a...Ch. 5 - Assume you are either Mike or Josh; how would you...Ch. 5 - Prob. 5.2.2CCh. 5 - After cost, what other factors should be...
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- Why is Project Management's three limitations essential for evaluating success or failure of the project?arrow_forwardWhen choosing a project management approach, do you prefer the tried-and-true waterfall technique or the more flexible iterative waterfall approach? Do you think we can find a solution to this issue?arrow_forwardHow could story points be used in traditional project management or not?arrow_forward
- How should a project manager react when he finds inefficiency in the functional lines of a project team? Should executive management become involved? Why or why not? Explain your answers.arrow_forwardExplanation of the Spiral Model and the V Model for Project Management and How They Work.arrow_forwardDescribe how project management software may be used to help with project planning.Describe and clarify the situation, as asked.arrow_forward
- How could a project manager adjust the cost of capital (i.e., appropriate discount rate) to increase the likelihood of having his/her project accepted? Is this ethical or financially sound?arrow_forwardHow is project management used to govern the scope, time, and cost of a project?arrow_forwardWhat is project analysis, and why is it a critical phase in project management? How does it contribute to project success?arrow_forward
- Appreciate the importance of managing project resources, and their effect on project duration. What are the resources and effects?arrow_forwardAssuming you are appointed as a Project Manager, explain how you would employ a Gantt Chart to communicate on your key project deliverables to your Management.arrow_forwardWhat are three distinct choices that may be made about how a project will be carried out, taking into account the structure of a decision tree? Your points of view serve as the basis for the procedure through which you gather data and carry out the analysis that you have devised.arrow_forward
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