1 M02 Assignment Part 1

The purpose of this assignment is to check your understandings of the module readings. This assignment will focus on the different methodologies that can be used in managing a project. The project manager must understand what change can do to a project, documentation, and its value. Identifying the Net Present Value (NPV) and the Return on Investment (ROI) for multiple-year projects will show if the ROI is as expected.

Your responses will be graded on the content, grammar, and citations.Refer to the grading rubric for further explanation. Make sure you are not copying information straight from the book to respond to the questions. All references used in your answers should be appropriately APA cited to credit those who wrote the information.

Assignment Part 1 The purpose of this assignment is to check your understandings of the readings from (Schwalbe). You will use this knowledge gained in the readings to display your understanding of Project Management Project Methodologies. Your responses will be graded on the content, grammar, and citations. Refer to the grading rubric for further explanation. Make sure you read each question thoroughly because there may be multiple responses needed for the question.

Question 1: (points 5) Describe how the PMBOK relates to the development of an organization's project management methodology.

Question 2: (points 5) How does the PRINCE2 project management methodologies differ from the PMBOK project management methodologies?

Question 3: (points 5) Describe the focus of Six Sigma methodologies. Would it be a methodology that would be used for managing a technology project?

Question 4: (points 5) Describe the Rational Unified Process (RUP) framework.

Question 5: (points 5) Adaptive product life cycle, Agile methods, is often used to describe a variety of methods. What are those methodologies and what are the deliverable characteristics?

Question 6: (points 5) Describe the differences in creep from requirements and what are the potential impacts to the cost of the project?

Question 7: (points 5) Describe how organizational process assets are used in managing the project.

Question 8: (points 5) Describe the purpose of the project charter. Is the project charter ever updated after the initial draft and approval?

Question 9: (points 5) Compute net present value (NPV), return on investment, and payback analysis. Assume that the projected costs and benefits for this project are spread over four years as follows: Estimated costs are $300,000 in Year 1 and $40,000 in Years 2, 3, and 4. Estimated benefits are $0 in Year 1 and $120,000 in Years 2, 3, and 4. Use a 7% discount rate and round the discount factors to two decimals. Calculate the NPV, ROI, and clearly indicate the year in which the payback occurs.

Question 10: (points 5) Describe the three main objectives of an integrated change request.