management writing question and need the explanation and answer to help me learn.
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The Assignment must be (WORD format only)
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Use the attached file .. it is the case study.. plus at least 3 other references as APA style.
This Assignment comprise of a Case Study and discussion questions.
Assignment Purposes/Learning Outcomes:
After completion of Assignment-2 students will be able to understand the
1.Recognize the steps of planning process in the project management. (L.O-1.2)
2.Estimate the project budget and cost control. (L.O-2.2)
3.Analyze to work effectively and efficiently as a team member for project related cases. (L.O-3.1)
Assignment Case Study: (Marks-6)
Please read the Case-5.2 “Post-Graduation Adventure.” from Chapter 5 “Estimating Project Times and Costs” given in the attached file in the book: Project Management: The Managerial Process 8th edition by Larson and Gray page no: 164
Also refer to specific concepts you have learned from the chapter to support your answers.
Answer the questions asked in case study as deliverables where you should consider the milestones and technical requirements.
1.Assume you are either Mike or Josh; how would you go about making a decision using project management methodology? (Explain in 250 – 255 words) (2 Marks).
2.Looking first at only cost, what decision would you make? (Explain in 250 – 255 words) (2 Marks).
3.After cost, what other factors should be considered before making a decision? (Explain in 250 – 255 words) (2 Marks)
Discussion Questions (4 Marks)
4.Discuss top-down and bottom-up estimating and different approaches used. (Explain in 250 – 255 words) (2 Marks)
5.Discuss different project management structures. (Explain in 250 – 255 words) (2 Marks)
Requirements: each answer should be 250 – 255 words
Commission a break-even study for the laser printer.Very little in the way of concrete savings was identified, although therewas consensus that time could be compressed to the market launch date, butat additional costs.Lauren met with the marketing (Connor), production (Kim), and design(Gage) managers, who yielded some ideas for cutting costs, but nothingsignificant enough to have a large impact. Gage remarked, “I wouldn’t wantto be the one to deliver the message to top management that their costestimate is $1,250,000 off! Good luck, Lauren.”1. At this point, what would you do if you were the project manager?2. Was top management acting correctly in developing an estimate?3. What estimating techniques should be used for a mission-critical projectsuch as this?Case 5.2Post-Graduation AdventureJosh and Mike met as roommates during freshman year at MacalesterCollege in St. Paul, Minnesota. Despite a rocky start they became bestfriends. They are planning a two-week adventure together to celebrate theirgraduation in June. Josh has never been to Europe and wants to visit Franceor Spain. Mike spent a semester abroad in Aarhus, Denmark, and traveledextensively in northern Europe. Even though Mike has never been to Franceor Spain, he wants to go to someplace more exotic, like South Africa orVietnam. For the past week they have been arguing over where they shouldgo. Josh argues that it will cost too much to fly to South Africa or Vietnam,while Mike counters that it will be much cheaper to travel in Vietnam orSouth Africa once they are there. They agree that they can spend no morethan $3,500 each on the trip and could be gone for only two weeks.
A5-1page 164One evening when they were arguing with each other over beers withfriends, Sara said, “Why don’t you use what you learned in your projectmanagement class to decide what to do?” Josh and Mike looked at eachother and agreed that made perfect sense.1. Assume you are either Mike or Josh; how would you go about making adecision using project management methodology?2. Looking first at only cost, what decision would you make?3. After cost, what other factors should be considered before making adecision?Appendix 5.1LEARNING OBJECTIVESAfter reading this chapter you should be able to:Use learning curves to improve task estimates.LO A5-1Use learning curves to improve task estimates.Learning Curves for EstimatingA forecast estimate of the time required to perform a work package or taskis a basic necessity for scheduling the project. In some cases the managersimply uses judgment and past experience to estimate work package time oruses historical records of similar tasks.
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