3 4 . [3 points] List the factors that determines the basis of project control: . [1 point] Which of the following affects performance in project control? a} Time-consuming technical problems b) Increased use of expediting c) High labor costs d) Change in statement of work . [1 point] Which of the following does not affect cost in project control? a] Ination b) Time-consuming technical problems c} High labor costs (1) Poor timing of ca sh ows . [5 points] Match the following control steps in order. Control Steps Steps {1 to 10) Identify unacceptable variance from expectation. S ep Set performance standards. Standards maybe based on industry practice. prevailing S ep project agreements. work analysis. forecasting. and so on. Deteimine the criterion for control. This means that the specic aspects that will be S ep measured should be specied. Investigate the source of poor performance. S ep Ensure that poor perfomiance does not occur elsewhere in the project. S ep Measure actual perfonnance. S ep Determine the expected impact of the variance on overall project performance. Step Compare actual perfomiance with the specified performance standard. S ep Determine the appropriate control actions needed to overcome (nullify) the variance S ep obsen'ed. Implement the control actions with total dedication. Step 5. [1 point] Tiue or False: Formal control has disadvantages and thus it will not be effective for some types of projects. 6. [3 point] A certain task is expected to take 24 days. The employee in charge worked diligently 011 the task for 24 days. but he or she accomplished only three-quarters of what is required to be done. The entire project was planned to be completed in 120 days. i. Calculate the task 1-ver'ghr for this task. ii. The actual % completion for this task. iii. The actual relative % completion for this task. \"I. [3 points] What is continuous perfor111ance unproyement, and, in your opinion. what is its most important benet? Q8 & Q9 are from Chapter 7. 8. [2 points] State four advantages of mathematical scheduling in modeling for project optimization. 9. [1 point] In a project environment. which of the following are objective mctions? a) Maximize net present worth. b) Minimize net present worth. c) Maximize the project duration. (1) Minimize the number of late jobs. 10. [10 Points] What types of data would you reconunend to be collected for a project involving the construction of a new commtmity park (for jogging-\"snaking. basketball court. picnic boots. and children playground} in a small conunlmity? [Similar to Exercise 6.13 in Chapter 6] 11. [20 Points] (Based on Chapter 2') An objective mciion is a mathematical representation of the goal of an organization. It is stated in terms of maximizing or minimizing some quantity of interest. List six quantities that could be involved in objective function for minimizing or maximizing in a project enviromnent. You must specify if the quantity is to be minimized or maximized. 12. [20 Points] (Based on Chapter 8). (a) State the major differences between simple payback period and discounted payback period. (b) State the differences between xed interest rate and variable interest rate. (c) How much must be deposited into a project account today if the project costs for each of the rst 5 years are 812.000 and this amount increases by 10% per year for the following 10 years if the account pays 2.5% per year. compounded yearly? [Exercise 8.4 in Chapter 8] 13. [25 Points] (Based on Chapter 9). (a) State the requirements of intrinsic forecasting. (b) List three purposes for which a vaiidated regression model can be used for. (c) The 10-year historical demand data for a part is presented in the following table. Year I 2 3 al 5 (- 7' 8 9 10 Demand 2150 won 21m) 185!) 2050 19\"\" 22H\" 19\"\" Elm) 185i] Determine the forecast for year 11 using the following forecasting approaches: i. Simple average. ii. Weighted 4-period moving average with: (11 = 0.4. (12 = 0.3. (13 = 0.2. on = 0.1. [Parts of Exercise 9.9 in Chapter 9] 14. [25 Points] Consider that the City of Baltimore in Malyland issued an almotmcement for a cooperative agreement grant..-'contract to develop a new community park for joggmgfwalking. basketball com't. picnic boots. and children playgrotmd. The maximum budget is 324 million over a 3-year period. (a) Write a 2-page limit proposal white paper. (b) Create a detailed budget estimate. [No page limit] (c) Write a budget justification that justies every line item in your budget. [No page limit]