Please answer each question clearly. Management class
1) A certain project has the following tasks and F-S dependencies, along with PERT duration estimates: a) What is the likely project duration using the standard PERT formalism? b) Now use the Excel template "PERT with Monte Carlo" from Week 5, and generate a histogram describing the statistical likelihood of project durations if each task has an equal probability of having a duration somewhere between the minimum and maximum in the table above (uniform probability). Paste your answer here (note: since a random number generator is used, no two histograms will/should be identical!) c) If you were managing this task, what project duration would you commit to assuming you are comfortable with a 90% chance of success? 2) Do Problem 6.21 in PMiP (p232). This is an exercise in Project Crashing. You could do this by hand using the method discussed in class (described in the posted slides for Week 5), or you may use the posted Excel files. If you choose to use the "Project Crashing" Excel file that we used in the last class, please note that you will need to manually enter all the possible network paths and associated formulas for completion times in columns N \& O. The following questions relate to contracts \& procurements. This material is not covered in PMiP. Reference PMBOK Chap 12 or lecture slides: 3) The Sam Consultancy has a large internal project to be initiated. To staff this project, Sam Consultancy is working with People Consultancy to provide three resources for six months. The resources will be part of the team managed by Sam Consultancy for six months. Which contract type should the Sam Consultancy use? a. Purchase Order b. Cost Plus Fee c. Fixed cost d. Time and Material 4) Your company is getting 200 computers installed from a vendor. The vendor will be paid the cost involved and a 10% incentive. Which contract should be used in this case? a. CPPC b. CPIF c. CPFF d. Fixed Cost 5) UCSB is planning to buy ten flatscreen TVs for $1500 each from a local electronics store. Which type of contract should get signed in this case? a. Purchase Order b. Cost plus Fee c. Fixed cost d. Time and Material 6) You have replaced a prior project manager in a project. On reviewing the project management plan you are disturbed because a number of procurement contracts have been signed and they all turn out to be Cost plus fixed fee types of contracts - why are you worried? a. Seller is not motivated to control cost and in fact cost could spiral b. All the risk is now with the seller c. Contracts should always be T&M d. Contracts should always be Fixed Price 1) A certain project has the following tasks and F-S dependencies, along with PERT duration 2) Do Problem 6.21 in PMiP (p232). This is an exercise in Project Crashing. You could do this cstime e+n. by hand using the method discussed in class (described in the posted slides for Week 5), or you may use the posiled Excel tiles. If you choose to use the "Project Crashing" "Excel file that we used in the last class, please note that you will need to manually enter all the possible network paths and associated formulas for completion times in columns N \& O. The following questions relate to contracts \& procurements. This material is not covered in PMiP. Reference PMBOK Chap 12 or lecture slides: 3) The Sam Consultancy has a large internal project to be initiated. To staff this project, Sam Consultancy is working with People Consultancy to provide threc rcsources for six months. The resources will be part of the team managed by Sam Consultancy for six months. Which contract type should the Sam Consultancy use? a. Purchase Order b. Cost Plus Fee d. Time and Material a) What is the likely project duration using the standard PERT formalism? 4) Your company is getting 200 computers installed from a vendor. The vendor will be paid the cost involved and a 10% incentive. Which contract should be used in this case? a. CPPC b. CPIF c. CPFF d. Fixed Cost 5) UCSB is planning to buy ten flatscreen TVs for $1500 each from a local electronics store. Which type of contract should get signed in this case? a. Purchase Order b. Cost plus Fee c. Fixed cost d. Time and Material 6) You have replaced a prior project manager in a project. On reviewing the project management plan you are disturbed because a number of procurement contracts have been signed and they all turn out to be Cost plus fixed fee types of contracts - why are you worricd? a. Seller is not motivated to control cost and in fact cost could spiral c) If you werc managing this task, what projcct duration would you commit to assuming b. All the risk is now with the seller you are comfortable with a 90% chance of success? c. Contracts should always be T \& M d. Contracts should always be Fixed Price 1) A certain project has the following tasks and F-S dependencies, along with PERT duration estimates: a) What is the likely project duration using the standard PERT formalism? b) Now use the Excel template "PERT with Monte Carlo" from Week 5, and generate a histogram describing the statistical likelihood of project durations if each task has an equal probability of having a duration somewhere between the minimum and maximum in the table above (uniform probability). Paste your answer here (note: since a random number generator is used, no two histograms will/should be identical!) c) If you were managing this task, what project duration would you commit to assuming you are comfortable with a 90% chance of success? 2) Do Problem 6.21 in PMiP (p232). This is an exercise in Project Crashing. You could do this by hand using the method discussed in class (described in the posted slides for Week 5), or you may use the posted Excel files. If you choose to use the "Project Crashing" Excel file that we used in the last class, please note that you will need to manually enter all the possible network paths and associated formulas for completion times in columns N \& O. The following questions relate to contracts \& procurements. This material is not covered in PMiP. Reference PMBOK Chap 12 or lecture slides: 3) The Sam Consultancy has a large internal project to be initiated. To staff this project, Sam Consultancy is working with People Consultancy to provide three resources for six months. The resources will be part of the team managed by Sam Consultancy for six months. Which contract type should the Sam Consultancy use? a. Purchase Order b. Cost Plus Fee c. Fixed cost d. Time and Material 4) Your company is getting 200 computers installed from a vendor. The vendor will be paid the cost involved and a 10% incentive. Which contract should be used in this case? a. CPPC b. CPIF c. CPFF d. Fixed Cost 5) UCSB is planning to buy ten flatscreen TVs for $1500 each from a local electronics store. Which type of contract should get signed in this case? a. Purchase Order b. Cost plus Fee c. Fixed cost d. Time and Material 6) You have replaced a prior project manager in a project. On reviewing the project management plan you are disturbed because a number of procurement contracts have been signed and they all turn out to be Cost plus fixed fee types of contracts - why are you worried? a. Seller is not motivated to control cost and in fact cost could spiral b. All the risk is now with the seller c. Contracts should always be T&M d. Contracts should always be Fixed Price 1) A certain project has the following tasks and F-S dependencies, along with PERT duration 2) Do Problem 6.21 in PMiP (p232). This is an exercise in Project Crashing. You could do this cstime e+n. by hand using the method discussed in class (described in the posted slides for Week 5), or you may use the posiled Excel tiles. If you choose to use the "Project Crashing" "Excel file that we used in the last class, please note that you will need to manually enter all the possible network paths and associated formulas for completion times in columns N \& O. The following questions relate to contracts \& procurements. This material is not covered in PMiP. Reference PMBOK Chap 12 or lecture slides: 3) The Sam Consultancy has a large internal project to be initiated. To staff this project, Sam Consultancy is working with People Consultancy to provide threc rcsources for six months. The resources will be part of the team managed by Sam Consultancy for six months. Which contract type should the Sam Consultancy use? a. Purchase Order b. Cost Plus Fee d. Time and Material a) What is the likely project duration using the standard PERT formalism? 4) Your company is getting 200 computers installed from a vendor. The vendor will be paid the cost involved and a 10% incentive. Which contract should be used in this case? a. CPPC b. CPIF c. CPFF d. Fixed Cost 5) UCSB is planning to buy ten flatscreen TVs for $1500 each from a local electronics store. Which type of contract should get signed in this case? a. Purchase Order b. Cost plus Fee c. Fixed cost d. Time and Material 6) You have replaced a prior project manager in a project. On reviewing the project management plan you are disturbed because a number of procurement contracts have been signed and they all turn out to be Cost plus fixed fee types of contracts - why are you worricd? a. Seller is not motivated to control cost and in fact cost could spiral c) If you werc managing this task, what projcct duration would you commit to assuming b. All the risk is now with the seller you are comfortable with a 90% chance of success? c. Contracts should always be T \& M d. Contracts should always be Fixed Price
