What is X? Note: Do not round intermediate calculations. Round your answer to the nearest whole number X
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- The following precedence diagram reflects three time estimates for each activity. Determine: Use Table B1 and Table B2. 9-10-12 3 8 5-7-10 8-10-14 11-12-13 6 11 14-18-26 10.5-13-15.5 10 8-8-8 1 5-6-7 2 4 13-13-13 7 7-10-12 a. The expected completion time for each path and its variance. (Round intermediate calculations to 4 decimal places and final answers to 2 decimal places.) Path Mean Var. Std. Dev. 1-2-3-8-11 37.33 1-2-4-6-11 43.00 5.11 1-2-4-7-11 0.81 1-2-5-9-10-11 46.83 1.25 9-9-9 10-11-12 10-12-14If you are working on the project for Company ‘B’, then please write at least 6 major Risk factors, you can foresee, that may arise during the execution of the project. You are also required to recommend the risk mitigation (risk control) steps against each risk.MODELLING AND SIMULATION 1. What is the best way to plan a simulation project? Why? 2. Does project management help you to simulate a model? In what way/s? 3. Car dealers have realized how profitable it can be to sell automobiles by using the Web. Pretend that you work for a local car dealership that is part of a large chain of car industry. Create a project management process (include the sub-processes) that you will implement in developing such web-based system.
- 2. Compute the followings: (a) The probability that the project will finish by the end of day 50 (b) The probability that the project will finish at day 52 (c) The probability that the project will finish before the start of day 49. (d) The completion date with at least a 95% confidence levelMODELLING AND SIMULATION 1. Do we need to criticize someone’s ideas during a brainstorming session? Support your opinion. 2. Is it possible to conduct all the orientation activities in a single visit? Why? 3. How do project parameters affect the simulation?A project manager discovers that a project problem has occurred. Theproblem was never discussed during risk planning activities or added tothe risk register, and it will now cost the project money. What is the BESTresponse? A. Don’t take any action, just accept that there’s a problem that the team did not planforB. Use the management reserve to cover the costs of the problemC. Stop all project activity and approach senior management for adviceD. Add the risk to the risk register and gather information about its probability andimpact
- Sanjay Bhatia, (age 30 years) works with a pharmaceutical company and has not yetstarted to invest for his retirement. Sanjay is married to Preeti (age 28 years) and they have one son aged 2 years. Sanjay wants you to prepare a plan for him to retire latestby age 55. (You can make any assumptions to further build up your case.)whixh of the following least denotes the control of risks: a) They are normally associated with project management b) They are extremely difficult to quantify c) They are associated with know and logical events d) Are associated with unkown and unexpected eventsb) As a Project Engineer, cost control is one of the areas that is pertinent to project budget. When project cost is over-run against project budget, what will be the challenges as an engineer that you will be to be concerned? Please list down 3 concerns and elaborate on your answers. (CO1, C4)
- Bobby is an employee of a publicly traded corporation, and holds stock and stock options. As a member of the product development team, he has been working on the design of a new product at the company. For its part, the company has been pinning most of its future economic hopes on thesuccess of the release of the product. However, the development of the product has not gone public yet. The company is keeping the entire project a complete secret until it releases it publicly. The company has been so secretive about the new product that no one but Bobby knows the releasedate yet. When Bobby realizes this, he decides to use this information to profit heavily by purchasing as much stock as he can afford in the company right before the product goes public. Then, when the stock prices rise after the successful release of the product, he plans to sell it all. What kinds of information are considered "material information" when discussing insider trading? Would the information Bobby used to…Evaluate the below statement according to the project management terminologies and choose the correct answer: It is the process of making a forecast or precise approximation Choose... of time and cost associated with a work package or activity. Graphically describes a project consisting of well-defined Choose.. activities, the completion of which marks its end. One of the Perform Quantitative Risk Analysis process has a Choose.. Tools and Techniques. Useful for building accountability through assigning specific Choose.. tasks to team members. It is the standard format each path through the network must be continuous with no gaps, discontinuities, or dangling Choose... activities. Organizational Assets, Project Scope Statement, Cost Management Plan and Schedule Management Plan are inputs Choose.. of: Choose... Work Breakdown Structure Expert Judgment Bar chart Estimating A horizontal diagram format Plan Risk Managementusing examples, distinguisg between: 1. Direct aand indirect project costs. 2. Recurring and nonrecurring project costs. 3. Fixed and Variable project costs. 4. Normal and expedited project costs.