PROJ 592 Final Exam 1

PROJ 592 Final Exam 1 $15 only (Instant Download)

1. (TCO B) Estimating Procedures
(a) You are the project manager for a new high-rise office building. You are working on estimating the exterior landscaping for the new development. The landscaping requires the use of a special landscape stone. Based on recent experience the most likely price for the material is $120.00/ton. However, the price for this stone is volatile, and the price fluctuates over time based on market conditions and material availability. The most optimistic price estimate is $60.00/ton, and the most pessimistic estimate is $160.00/ton. What is the expected price of the material?
(b) In addition to price fluctuations, you are also uncertain of how much of the material will be required for the project. Scope changes and site conditions will affect the amount of material actually needed. The most likely amount required is 36 tons. However, as little as 28 tons or as much as 56 tons might be required. What is the expected amount of the material needed for the project?
(c) Using the estimates from (a) & (b) what is the expected cost for the material over the life of the project using the COMPLEX method?

2. (TCO B) Contingency Allowance:
You are a project manager for the development of Motorola’s new 4G, HD, Touch Screen Cell Phone which is supposed to take the cell phone industry by storm. Listed below are the initial cost estimates for the materials and labor for one of the phones:

The estimating department currently defines estimate accuracy as follows:
(a) What contingency cost budget do you recommend for the product?
(b) The target retail price for the new telephone is $165.00 per unit. The markup demanded by retailers is 50%. Based on cost factors, write a brief rationale for acceptance or rejection of the project, including any recommendations you have regarding the cost estimates.

3. (TCO C) Work Breakdown Structure WBS
Speedy Computer, Inc. (SCI) is going to introduce its first laptop computer. Although SCI recognizes that it is a late entry into the market, it believes that there is room for an inexpensive product at the low end of the market. Its design process will start with a conceptual design performed concurrently with the disassembly and analysis of a select group of the competitor’s products. The best components consistent with the conceptual design will then be used as the basis for the working design.

Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two level task and sub-task hierarchy. Provide columns showing the WBS code and activities. Number and indent the WBS codes so that the level of each activity is clearly identified.

4. (TCO A) Budgeting processes and techniques
A company modifies production automobiles to create custom hybrid vehicles for the high-end auto enthusiast market. They develop and build these custom designs as a single unit or at times in multiples of as many as 20 for larger orders. The orders are generated by the marketing department with help from the owners who participate in the management of the company.
What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work.

1. (TCO C) Schedule Crashing
Using the network below and the additional information provided, find:
(a) The crash cost per day per activity. (b) Which activities should be crashed to meet a project deadline of 13 days at minimum cost? State the number of days you will crash each activity.
(c) What is the additional cost to crash the project?

2. (TCO E) Responsibility Allocation Matrix
Projects often cross many functional boundaries with team members reporting to different functional managers. This cross functional aspect can create problems with roles and responsibilities. You decide to use a Responsibility Assignment Matrix (RAM) to help with this situation. Your manager is wondering why you are spending your time on this tool when you already have resources assigned to tasks in your schedule.
(a) Why is the RAM such an effective tool for Project Managers?
(b) What are some of the typical responsibilities assigned on a RAM?

3. (TCO E) Resource Allocation/Leveling
The following data were obtained from a project to design a new software package: The software manufacturer has only the above personnel available for the project. Additional personnel can be hired from an agency at an 80% cost premium if needed.
(a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the personnel in conflict, and the number of people involved.

(b) Note that operations can be split if required: what is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred?

1. (TCO G) Estimate At Completion forecast (EAC)
A project has been estimated to take eight weeks and cost $65,000. The critical path is A – D. Cost and earned value data are provided below: (i) Calculate the Estimate at Completion (EAC) considering future performance will be back on schedule and budget. (ii) Calculate EAC considering that the project will continue to perform as it has to date. (iii) Using either of these two numbers discuss the status of the project and if the project manager needs to take corrective actions. Justify your comments.

2. (TCO D) PMIS and cost accounting
Effective project monitoring requires access to projects data, and therefore a Project Cost Accounting System (PCAS) is essential.
(a) What are the primary types of data collected by such a system?
(b) What are some of the benefits of PCAS?

3. (TCO F) Earned Value
The following data were obtained from a project to design a new software package:

(a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E.

b) Write a brief analysis of the status of the project at this time, including task level, project level, and critical path.

Sample Answer for quesiton number 3 (b) (TCO) Earned Value

It is necessary that this task is managed well and completed so that it does not impact the project as a whole. Task B also seems to be behind with SPI of 0.50 and CPI of 0.92 and needs to be better managed as well. The project critical path is A-C-D-F.

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