You are the project manager of a project for developing new software for renting cars. The...
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You are the project manager of a project for developing new software for renting cars. The project consists of 5 main activities, which are research, brainstorming, design, implementation, and iteration. PROJECT DESCRIPTION Research takes 6 days, Brainstorming takes 11 days, Design takes 16 days, Implementation takes 20 days, and Iteration takes 16 days. Only after completion of research, brainstorming and iteration can start. Only after completion of brainstorming, design and iteration can start. Implementation can start only after completion of design and iteration. Using PERT analysis, the total planned cost for the project was estimated, where the optimistic cost was estimated as EGP750,000, the pessimistic cost was estimated as one million, while the most likely cost was estimated as EGP850,000. In day 17, the actual cost was EGP400,000, when only 20% of the project had been finished. The project contract was held according to a fixed price (Estimated using PERT) with incentive fees of 20% to the seller and 80% to the buyer, as well as a price ceiling of one million. The final fees represent 25% of the planned cost for the project, while the actual cost at the end of the project was found to be EGP 1,100,000. The following risks are identified for your project. Risk A B D Probability 0.3 0.5 0.8 0.35 Impact (S) 8000 5300 4200 7200 1. Draw the AON diagram for the current project. 2. Investigate the project critical path(s) and the project duration. 3. Evaluate the project progress. Justify your answer according to cost and schedule. 4. Compute the project's final price and final fee. 5. Identify the value of the risk you have in your project and compute which risk you might focus on. You are the project manager of a project for developing new software for renting cars. The project consists of 5 main activities, which are research, brainstorming, design, implementation, and iteration. PROJECT DESCRIPTION Research takes 6 days, Brainstorming takes 11 days, Design takes 16 days, Implementation takes 20 days, and Iteration takes 16 days. Only after completion of research, brainstorming and iteration can start. Only after completion of brainstorming, design and iteration can start. Implementation can start only after completion of design and iteration. Using PERT analysis, the total planned cost for the project was estimated, where the optimistic cost was estimated as EGP750,000, the pessimistic cost was estimated as one million, while the most likely cost was estimated as EGP850,000. In day 17, the actual cost was EGP400,000, when only 20% of the project had been finished. The project contract was held according to a fixed price (Estimated using PERT) with incentive fees of 20% to the seller and 80% to the buyer, as well as a price ceiling of one million. The final fees represent 25% of the planned cost for the project, while the actual cost at the end of the project was found to be EGP 1,100,000. The following risks are identified for your project. Risk A B D Probability 0.3 0.5 0.8 0.35 Impact (S) 8000 5300 4200 7200 1. Draw the AON diagram for the current project. 2. Investigate the project critical path(s) and the project duration. 3. Evaluate the project progress. Justify your answer according to cost and schedule. 4. Compute the project's final price and final fee. 5. Identify the value of the risk you have in your project and compute which risk you might focus on.
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Related Book For
Project Management in Practice
ISBN: 978-0470533017
4th edition
Authors: Samuel J. Mantel Jr., Jack R. Meredith, Sco
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