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Procurement involves acquiring products and services externally to meet the project's goals and objectives. A documentation of the procurement process for a project that involved installing, integrating, and configuring computing infrastructure in a furniture store's core distribution warehouse.
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Dreams Technologies (DT) is a technology company based in Maryland, US. Founded in May 1998, Dreams Technologies focused on hardware installations and configurations for businesses and organizations within the state. Through this hypothetical organization, create a project cost monitoring and control sample proposal.
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What is conflict management? What are the main conflict management styles and how do they influence decision-making?
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Identifying and avoiding ethical challenges in project procurement management. Use cases provided.
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A negative result from a Cost Variance (CV) calculation means which of the following: A. AC is higher than EV. B. PV = 1. C. EV is higher than AC. D. EV is higher than PV.
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In modern-day project management, successfully navigating the intricate interplay between scope, schedule, and budget is a paramount challenge. In this learning area, we underscore the critical importance of addressing the project risks associated with the scope, schedule, and budget of a project. The article explores the role of stakeholders in managing project risks and the processes of risk management.
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A manufacturing firm has set up a project for developing a new machine for one of its production lines. The most likely estimated cost of the project itself is $1 million, but the most optimistic estimate is $900,000 while the pessimists predict a project cost of $1,200,000. The real problem is that even if the project costs are within those limits, if the project itself plus its implementation cost exceed 1,425,000, the project will not meet the firmís NPV hurdle....
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Your firm designs training materials for computer training classes, and you have just received a request to bid on a contract to produce a complete set of training manuals for an 8-session class. From previous experience, you know that your firm follows an 85% learning rate. For this contract, it appears that the effort will be substantial, running 50 hours for the first session....
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Suppose that you are the estimator who is assigning costs to a major project to be undertaken this year by your firm, Acme Software Developers. One particular software development process involves many labor-hours, but the work is highly redundant. You anticipate a total of 100,000 labor-hours to complete the first iteration of the software development process and a learning curve rate of 80%...
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Definition of the learning curve theory (LCT) and how it applies to Project Management. How would one apply the principles of the learning curve theory to a real project?
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What are the challenges of virtual teams in the areas of 1) communication, 2) conflict management, and 3) team organization? How might your team meet these challenges, and what could you do to enhance the performance of your virtual team during a project?
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1) List 5 Advantages and 5 Disadvantages of Matrix Project Organization. 2) Discuss how your management style might differ in a matrixed organization from the management style you might use in a project-oriented organization.
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Stoneworth Paving Company specializes in highway paving jobs for state of Virginia. When the State first awarded Stoneworth the contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock, the project coordinator for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to be completed in the next two weeks was behind schedule. ...
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The following project is at the end of its 6th week. Find the cost and schedule variances. Also find the CPI and SPI. Then find the critical ratio of the project using earned value calculations. Finally, calculate the EAC for the project by at least two different methods.
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A project has just completed its 87th item in the project plan. It was scheduled to have spent $300,000 at this point in the plan, but has actually spent only $250,000. The project manager estimates that the value of the work actually finished is nearly $200,000. What are the spending and schedule variances for the project? What are the SPI and CPI? What is the Critical Ratio?
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A project in its 26th week has an actual cost of $300,000. It was scheduled to have completed $325,000 worth of work at that point in the project. For the work performed to date, the budgeted value is $350,000. The project has a total budget of $500,000. What are the cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule and cost variances will affect the remaining work, what is the EAC?
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The goal of this project is to demonstrate, through the project, your understanding of nursing informatics. Track your project to make sure the implementation is going as planned. Activities to track with application of tools: Is the project staying within scope? (Scope) Were all of the gaps identified? (Gap Analysis) ...
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You are involved in an international IT project. As a project manager, what are the key considerations for performing quantitative risk analysis during the Covid pandemic? Explain the role of quantitative analysis in assessing overall project risk and decision-making. Discuss the required components, tools, and techniques for conducting quantitative risk analysis, and provide examples of how decision trees and multiple inputs contribute to the process. Finally, describe the potential outputs and benefits that can be derived from a comprehensive quantitative risk analysis for this project.
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The Comprehensive Risk Management Plan offers a standardized framework for identifying, managing, and analyzing project risks in uncertain environments. It provides a systematic approach that enables project teams to proactively assess potential threats and opportunities, ensuring effective risk mitigation and enhancing project success.