Question: Question 2 (a) State the THREE (3) forms of project organization that use the matrix project management structure. (3 marks) (b) Describe the role of

Question 2 (a) State the THREE (3) forms of

Question 2 (a) State the THREE (3) forms of

Question 2 (a) State the THREE (3) forms of project organization that use the matrix project management structure. (3 marks) (b) Describe the role of a project manager in a weak matrix structure and a strong matrix structure. Name at least THREE (3) per matrix structure. (12 marks) (c) Define responsibility matrix. How can the responsibility matrix be used in project management? (4 marks) (d) Discuss any FOUR (4) benefits of using a responsibility matrix. (8 marks) (e) Define Scope Creep. Explain why scope creep is usually undesirable in a project. (3 marks) Question 3 (a) Illustrate the FOUR (4) steps in the risk management process. (8 marks) (b) What is the difference between mitigating a risk and having a contingency plan? Demonstrate your understanding by providing real-life examples that illustrate the difference(s). (8 marks) C) . . Select a real-life example for each of the following risk response: Risk mitigation Risk avoidance Risk transference Risk acceptance (4 marks) Question 4 (a) Control is the process of comparing actual performance against plan to identify deviations, evaluate possible alternative courses of action and take the relevant appropriate actions. Review the FOUR (4) steps of Project Monitoring and Control (12 marks) (b) Assume that you are a project manager tasked to build a square garden of four sides around a piece of land, as in the figure below. You are given a budget of $500 to build each side, and you have a schedule of completing one side of the hedge each day. Hence, you are expected to finish the project in four days at a cost of $2,000. However, as with many projects, there are some unforeseen circumstances, resulting in the following: Day 1: ONE wall completed within budget Day 2: Work was completed and there was an additional spending of $50 beyond budget Day 3: Work was completed but only with a total spending of $250 At day 3, you decided to evaluate the progress of the project. Apply project management techniques to calculate / determine the following: (i) What is the planned Value? (3 marks) What is the Earned Value? (3 marks) (iii) What is the Actual Cost? (3 marks) (iv) What is the Cost Variance? Based on this, is the project over or under budget? (3 marks) (v) What is the Schedule Variance? Based on this, is the project ahead or behind schedule? (3 marks) (vi) What is the Cost Performance Index or CPI? How many cents are you getting from every dollar spent

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!