All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
construction project management

Questions and Answers of Construction Project Management

Frank Wesley, project manager for the LOGON project, is concerned about the development time for the robotic transporter. Although the subcontractor, Creative Robotics, has promised a delivery time
Iron Butterfl y Company submits proposals in response to RFPs and faces three possible outcomes: N1, Iron Butterfl y gets a full contract; N2, it gets a partial contract (job is shared with other
Corecast Contractors has been requested by a municipality to submit a proposal bid for a parking garage contract. In the past, the cost of preparing bids has been about 2 percent of the cost of the
Softside Systems has a $100,000 fi xed price contract for installation of a new application system. The project is expected to take 5 weeks and cost $50,000.Experience with similar projects suggests
Because of its geographical location, the Largesse Hydro project is threatened with weather-associated delays and costs. The likelihood of bad weather is estimated at 0.30 with a potential impact of
Figure 10.8 is the network for the Largesse Hydro Project:The table gives the baseline cost and time estimates (BCE and BTE), the cost and time estimates to correct for failure, and the likelihood of
Where would criteria such as maximax, maximin, and minimax regret be used during the project life cycle to manage project risk?
How and where are risk time and risk cost considerations used in project planning?
Can risk be eliminated from projects? Should management try to eliminate it?
Risk management includes being prepared for the unexpected. Explain.
How does risk planning serve to increase risk-taking behavior?
List and review the principles of risk management.
A 3 percent design margin is applied to the system and the subsystems.Note, because the power requirement is stated as minimum output, the target output will be 3 percent above the requirement.a.
One requirement of a power-generating system states that it must provide 500 kWh minimum output. The system has three power-generating subsystems, X, Y, and Z. Constraints on physical size indicate
What is a design margin? How does its application reduce risk?
Think of a project you are familiar with and problems it encountered. List some ways the problems could have been avoided, and explain each of them.
Discuss briefl y each of the following ways to handle risk: transfer risk, avoid risk, reduce risk, contingency plan, and accept risk.
Do equations (10.1), (10.2), and (10.3) present good ways for rating the overall likelihood, impact, and consequences of risk? Discuss pros and cons of using these equations.
Tables 10.3 and 10.4 are for illustration purposes. Discuss the general applicability of these tables to rating risks in projects. Would you use these tables to assess the risk likelihood and impact
What is an infl uence diagram? How is it used to identify and analyze risk sources, and to assign priorities to those sources?
A project involves developing a system with state-of-the-art hardware and software, both complex, and where system performance depends on another, external system that is being developed
Describe a cause-and-effect diagram. Pick a problem (effect) of your own choice, and use a cause-and-effect diagram for illustration.
Briefl y describe the following risk identifi cation techniques: analogy, checklists, WBS analysis, process fl owcharts, and brainstorming.
Describe each of the following sources of technical risk: maturity, complexity, quality, and concurrency or dependency.
Discuss the difference between internal risk and external risk. List sources of risk in each of these categories.
What factors make a project high risk?
What is meant by risk of failure?
How does a person’s risk tolerance affect whether he rates a risk high, medium, or low?
Should risks that have low likelihood be ignored? Explain.
Compile a list of “lessons learned,” and indicate how these lessons could contribute to more successful future projects.
Draw a CE diagram, a causal loop diagram, a CRT, and a Pareto diagram to illustrate a project management problem that you have experienced in your study project.
Identify project budget items that aim to reduce the cost of external failures.
Discuss how the quality plan is integrated with the schedule, budget, and risk management plan, and, if applicable, with the procurement plan.
Develop a quality plan for your project to form part of an integrated project management plan. Include quality management policies, standards, and specifi cations to meet metrics for meeting specifi
In which ways would you be able to uncover client expectations that have not been articulated explicitly?
Why does it make sense to construct a Pareto diagram before constructing a CRT?
Describe the pros and cons of CE diagrams, causal loop diagrams, and CRT.
How does the information on the x-axis of a Pareto diagram in project control differ from the information on the x-axis of a Pareto diagram constructed to analyze defects in a mass production
How would you expect the bars of a Pareto diagram to change as the result of an improvement program?
How do client tests for acceptance differ from tests to obtain design information?
Perform an FMEA analysis on an electric kettle with cord and plug.
Describe how FMEA resembles the risk management approach described in Chapter 10.
Discuss the relationship between project risk management and project quality management.
Explain how classifi cation of defects differs from classifi cation of characteristics.
Explain how a narrow tolerance on a manufacturing drawing differs from the characteristic being classifi ed as critical or major.
Discuss how design reviews contribute to the approach of concurrent engineering.
Describe the differences between design reviews and audits.
Indicate for each of the following whether to apply for a modifi cation, a deviation, or a waiver:a. The supplier of oil fi lters to an automobile manufacturer says it plans to terminate production
How does the role of the quality manager (a functional manager) regarding quality planning differ from that of the project manager?
Explain the difference between quality and grade.
What is the difference between satisfying requirements and fi tness for purpose?Explain.
How does compliance to specifi cation differ from satisfying requirements?
A Rolls Royce is a high-quality vehicle. Is this always true? Consider different users and uses.
Describe your understanding of “quality.”
Did the PCAS produce time-phased cost schedules and forecasts? Show some examples. How were they used by the project manager?
What kinds of costs summaries were prepared? Who were they sent to? How were they used? Show some examples.
Was the project budget broken down into control accounts? If so:a. How were they related to the work packages and WBS, andb. How were they tied into the PCAS?
How were management and supervisory costs handled in the budget?
Describe the process of creating the project budget. Show a sample budget (or portion thereof).
What kind of project cost accounting system (PCAS) was used? Was it manual or computerized? Describe the system and its inputs and outputs. Who maintained the system? How was it used during the
How were estimates tallied to arrive at a total project cost estimate? Who did this?
How were overhead costs determined? What basis was used for establishing overhead cost rates?
How often and when were cost estimates revised during the project?
Was a life cycle cost analysis performed? If so, who did it, when, and using what methods? How did the analysis affect the design, development, and production of the project deliverables or main
What, if any, were the principle causes of cost escalation in the project?
When did estimating take place? How were estimates checked and accumulated?How were they related to the WBS?
How were project costs estimated? Who was involved? Describe the process.
Explain retention money and performance guarantee.
Using the data in problem 30, repeat Steps b and c using late start times. Then identify the feasible budget region using the cumulative curves.
Use the table below and the network in Figure 8.19 to answer questions about the ARGOT project:a. Compute the ESs and LSs for the project. Assume Ts is the same as the earliest project completion
Chapter 7 discussed the impact of crashing activities and the relationship of schedules to cost. The method assumes that as activity duration is decreased, the direct cost increases owing to the
The example in Table 8.2 shows three possible ways of apportioning total direct costs. Using the same example, suppose the direct non-labor (DNL) cost and G&A are broken down as follows:Assuming
The project manager Sean Shawn employed the analogy with adjustment method to estimate the cost of constructing a three-car garage. Specifi cally, he started with the cost of an average two-car
Refer to Case 5.1, the Barrage Construction Company, in Chapter
What might happen if top management submitted a bid for a project without consulting the business unit or department to be involved in the project?
What are the reasons for investigating the infl uence of schedules on project costs? What is the feasible budget region?
How are time-based forecasts prepared, and how are they used?
How are control accounts aggregated horizontally and vertically? Why are they aggregated like this?
What is a control account, and what kinds of information does it contain? How does a control account fi t into the structure of the PCAS?
How is the overhead rate determined?
What expenses are included under direct non-labor?
How are direct labor expenses determined?
What are six cost elements shared by most estimates and budgets?
Distinguish recurring costs from non-recurring costs.
What is a time-phased budget? What is the difference between a budget and a cost estimate?
Describe the PCAS. What is its purpose, and how is it used in project planning?
Describe the different kinds of contingency amounts, and the purposes each serves.
What is the role of the functional units and subcontractors in cost estimating?
Describe the process of using the WBS to develop cost estimates. How are these estimates aggregated into total project cost estimates?
For each of the following estimating methods, briefl y describe the method, when it is used, and the estimate accuracy it provides:a. Expert opinionb. Analogyc. Parametricd. Cost engineering.
Explain the difference between accuracy and precision. Give two examples that illustrate the difference.
Explain the difference between a cost estimate and a cost target. What are the problems in confusing the two—in using cost targets as cost estimates?
Explain what life cycle costs are, and how they are different from project costs.
What is the relationship between phases of the project life cycle and cost escalation?
How does the type of contractual agreement infl uence the potential for cost escalation?
How do changes in requirements cause cost escalation?
Describe what the term “phased (rolling wave) project planning” means.
What is the purpose of a contingency fund (management reserve)? How is the contingency fund used and controlled?
Defi ne cost escalation. What are major sources of cost escalation?
Why are accurate cost estimates so important, yet so diffi cult, in project planning?What are the implications and consequences of overestimating costs, and of underestimating costs?

Showing 300 - 400 of 2375

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved