Project Management

 

Define the avoidance risk handling method and provide an example?

Define engineering and analogy estimating techniques and give an example of each?

Define quality assurance and quality control and explain the difference in the two?

What might cause a favorable CV but unfavorable SV?

What is the 50-50 rule and why is it used?

Provide an a ample of a cost-plus-fixed-fee contract and explain how it might benefit the seller or the buyer?

A project manager for US based company is managing a project in a foreign country. In the US monetary donations for favors is not acceptable practice. However, it is acceptable and even encouraged in the country where the Project Manager is working. Networking equipment at a critical site needs to be installed by June 1st in order to maintain the schedule. The subcontractor, which is based in the foreign country, can’t install the equipment until July 1st. As the project manager what should you do and why?
A US based organization has outsourced it’s entire engineering department to an engineering firm in a foreign country. Which method would be more effective in alleviating issues regarding dissimilarities in the two firms. Develop and implement a communication plan or require employees of both firms attend training on the cultural differences between the two countries. Explain why?

39. While preparing a monthly status report a project manager realizes a key activity had been missed in the execution phase. This is going to Daley a key milestone which is due the following week. As the project manager what action should you take and why?

40. A company is considering two projects. Due to resource limitation and availability they can only select one. Each project would take a year to implement and would cost $200,000.

The first project is a process optimization project and would result in cost saving of $100,000 per year. These saving would begin immediately after the successful completion of the project.

The second project is to develop a new product which will be marketed by the company, the following net profit are expected after the successful completion of the project.

Year 1 $30,000
Year 2 $120,000
Year 3 $150,000
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