PROJECT MANAGEMENT (LOOSELEAF)-W/ACCESS
7th Edition
ISBN: 9781260216011
Author: Larson
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 5, Problem 5RQ
Why is it difficult to estimate mega project (e.g., airports, stadiums, etc.) costs and benefits?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A large multinational Coffee House giant “Tim Hortons” wants to open a Coffee House in the vicinity of Federal B. Area of Karachi. It will be a six month’s project. The Company has hired you as a Project Manager for this PKR 30 Million Project. Your scope of work includes Identification of area/location, Leasing of place and Construction of the Coffee House with state-of-the-art Interior Designing.
Perform SWOT analysis on this particular case and suggest whether to open the Coffee House in this area or not.
A leading artist is working with a specialist metalworking firm to produce an ambitious piece of public art that will stand in the main square of a city. The project is controversial – many citizens feel the artwork will clash with the traditional architecture of surrounding buildings. However, the mayor is firmly behind the project.
A large share of the cost of the artwork is being met by a donation from a successful local entrepreneur. They have made it clear that they will stop the funding at any time if they feel the project is not being properly managed and there is a risk that the artwork will have the kind of construction and public safety problems that similar artworks have had elsewhere.
Suggest four ways you think would keep this person supporting the project as the work proceeds.
For each of these ways, state who would be responsible for it. How, when and where would each way be done?
Why is it important to conduct transportation project evaluation using life-cycle cost analysis approach?
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...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- What is the difference between project feasibility study done by those under private sector and thos under government sector?arrow_forwardIdentify some projects that are currently underway in yourcommunity. Is there a new hospital being built, a new retail storebeing opened, highway construction being done? For at least oneproject, try to identify the major activitiesarrow_forwardHow are potential projects identified?arrow_forward
- What factors do you think are important to take into account when considering the feasibility of a particular project for planningarrow_forwardHow can you determine the appropriate SPI approach for your business and project? What are its pros and cons?arrow_forwardTop administrators in a hospital have approved a project to improve the efficiency of pharmaceutical services department by the end of the fiscal year to satisfy new state regulations for the coming year. However, they are concerned about four potential threats (1) the cost to implement the changes may be excessive (2) the pharmacists may resist changes (3) the project may run much longer than expected and not be ready for coming fiscal year, (4) The changes might reduce the quality of drug care in the hospital. The likelihood and negative impact of each threat have been solicited from the managers and are as follows, based on a seven-point scale where seven is the most likely and most negative impact. Threat Probability Impact 1 5 3 2 6 5 3 3 4 4 4 7 Construct a risk matrix and identify what you would consider to be critical, monitor and ignore threats. Explain your reasoning.arrow_forward
- The Town of Broomville, along with local arts and athletic groups, decided to erect a new community centre for sports, music, and theatre. The total estimated cost was $18,000,000 in April. Jane Borkus, president and CEO of the largest local industry. Autotech, promised to match every dollar raised through other donors, up to $9,000,000. Both she and the delighted town mayor, Geoff Johns, made the announcement over the local television station and in a joint statement in the town's newspaper. Borkus said the deadline would be 12 months. The following January, the campaign was proceeding extremely well; other donors had pledges $5,500,000 and Borkus presented a cheque for $4,000,000 as Autotech's "down payment and pledge of good will." Unfortunately, in March, Autotech lost its major contract to supply car parts to one of the big three auto manufacturers. Anticipating a large loss at year's end, Borkus withdrew the pledge and asked for the return of the down payment. Broomville will…arrow_forwardWhat is the role of project co-ordinator and engineer on energy generation projects ,and what is the risks if they are not part of the team?arrow_forwardGive an example of a project which is a failure in cost estimation and give suggestions for making it appropriate.arrow_forward
- Please original work Software project decision point Determine an interest rate to use—select an interest rate and why you think this number should be used. Use it in your calculations below in question. Given the information below on options 1 and 2, carry out three forms of analysis: breakeven, ROI, and NPV. Make a recommendation on which way to proceed, based on the TCO for each option. Option 1: Purchase the FunSoft package: Cost $200,000 for software and $85,000 for hardware in year one; with $50,000 to customize it and a $40,000 annual licensing fee for the life of the contract. There will be an annual saving of $61,000 due to the layoff of a clerk. • Option 2: Purchase the SoftComm package, which will operate on the vendor’s hardware: Cost $250,000 for a five-year license, payable half up front and half during the first year of implementation. The maintenance contract, at $75,000 a year, includes all currently identified modifications to the software for the first three…arrow_forwardAs an IT Project Manager what are two issues or project challenges unique to the IT industry that may affect the management of a vaccine rollout project.arrow_forwardWhat is the primary purpose of conducting a feasibility study in project management?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill Education
Management (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSON
Business Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSON
Fundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON
Inventory Management | Concepts, Examples and Solved Problems; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=2n9NLZTIlz8;License: Standard YouTube License, CC-BY