The president of the company has asked you to lead a large new project that links to the company’s number-one strategic priority. Shortly after learning about this news, you receive a visit from a principal architect who notes that he will also be working on the project. The project has not formally kicked off yet. What has likely occurred?
You are in the midst of performing cost management activities. You discover there are two competing alternatives to decide between: you can hire a contractor to build one of the project’s deliverables, or you can buy the deliverable from an overseas supplier. Both options require acquisition, operating, and disposal costs that you compare between the two alternatives to make a decision. What technique are you using?
Your selection committee is considering two projects. They can choose only one or the other. Project A’s expected cash inflows are $14,000. It has a payback period of 14 months, and IRR equals 4 percent. Project B expects cash inflows of $5,000 per quarter for the first 16 months, and its IRR is 2. Which project should the selection committee choose and why?
As project manager, Jose facilitates a weekly project team meeting to review progress achieved to date. He begins each meeting by sharing the average number of story points completed over the past one-week iteration. This is referred to as:
The processes that make up the project management process groups often interact and overlap with one another and are often performed in what way?
Procurement statement of work, insurance and performance bonds, vendor pricing, and payment terms are all elements of what document?
David is a project manager working for a prominent book publishing company. As the most senior project manager within the organization, he often gets the most complex project assignments. As part of his current project, he oversees the inspection of deliverables, measuring them against documented requirements and acceptance criteria. What does he hope to achieve as part of carrying out these activities?
Your selection committee can choose only one of the following projects: Project A’s original investment is $1 million, and the payback period is 18 months. Project B’s original investment is $1.4 million, and the payback period is 18 months. Project C’s original investment is $1.8 million, and the payback period is 18 months. Which project should the committee choose?
You are a project manager for Wedding Planners, Inc. Since every wedding is unique, your organization believes in managing each one as a project. You’ve come up with a great idea for a new event that you’re certain customers will love and that will also profit the company. Your boss asks you to investigate alternative methods for implementing the new idea and come back with a recommendation. You discover that Alternative A could yield revenues of $21 million over the next two years, while Alternative B could yield revenues of $29 million over three years. The finance manager told you to use 5 percent as the cost of capital. Which project should you choose and why?
Your customer has decided that you cannot go forward with the project you’re managing without a change to the agreed-upon WBS. A contract amendment is agreed on and signed, the change control system processes are followed, and you modify the appropriate planning documents to reflect the change. As a result of the approved change, substantial updates to the project costs and the project schedule occur as well. Which of the following is not true regarding this situation?