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Exam Code of Conduct 1. This is a closed book exam . No unauthorized study aids are permitted. 7. When estimating a project budget, the PM may be required to identify The George Brown College Student Code of Academic Conduct expressly prohibits academic reserve funds to address known and unknown risks. List the 2 types of dishonesty resulting from: . using materials or aids that have not been approved by the instructor reserve funds and describe the purpose for each. (6 marks) accessing course content from any unauthorized source copying another person's answer(s) or allowing your answer(s) to be copied B. For the following questions, utilize the project data below. Assume all tasks sharing answers or consulting with another person through any means start on the same day. (6 marks) submitting an answer to a test/exam question that was completed, in whole or in part, outside of the exam room (unless permitted by the exam format) TASKS AB takes 7 days having someone take a test for you or taking a test for someone else TASK C takes 9 days TASKS DEF takes 8 days Academic dishonesty will result in a grade of zero for the entire course and a record in the TASKS DGH takes 10 days student's academic performance. a) What is the critical path for this project? (1 mark) SHORT ANSWERS - Total of 50 Marks . Define the difference between "Monitoring" and "Controlling" a project (4 b) Define Slack Time? (Le. Explain what it is) (2 mark) marks) c) What is the slack time for C? (1 mark) I d) What is the slack time for A? (1 mark) 2. What is a Project Milestone? List 2 characteristics of an effective project milestone (6 marks) e) What is the slack time for G? (1 mark) LONG ANSWERS - Total of 50 Marks 1. You are in a job interview and your stellar smarts, charm and sense of style 3. You have been asked to evaluate 2 projects using only profitability models. are all contributing towards it going extremely well. They see that you have Show the formula and calculate Average Rate of Return (ARR) and Payback taken a college Project Management course and are very interested in how Period (PP) for the following projects. (8 marks). you can apply all your learning to their projects. a) If you were making a decision based purely on Average Rate of Return, which project would you select? (1 mark) They ask you for a list of the major stages, steps, tools and activities that you b) If you were making a decision based purely on Payback Period, which ypically would go through in managing ANY project from start to finish. project would you select? (1 mark) List out what your answer to this question will be. You can use bullet points to Project Apple Project Orange $90,000 highlight 8 high level steps (in order) that you would go through in your Fixed Investment = Fixed Investment = $400,000 Avg. Annual Profit = $ 9,000 Avg. Annual Profit = $ 10,000 approach when managing any project from start to finish. (16 marks) Annual Cash Inflow = $30,000 Annual Cash Inflow = $ 40,000 (* Note the answer to this question is not taken from any 1 slide in your study packages but rather how you would bring all the elements that you studied in this course together and be able to apply to a real project) 4. What are 3 headings that you would find on an effective Project Status Report? (6 marks) You have been hired to the Project Management team in charge of building, marketing and opening George Browns new residence. In managing this project you have been asked to construct a risk assessment the 4 most important headings that appear on this form and complete the risk assessment. (4 marks X 4 rows - 16 marks) 5. a) What is Scope Creep? (2 marks) b) Give 2 common reasons why scope creep occurs? (2 marks) 3. You have been hired to Project Manage the 2022 Student Business Awards ) Give 2 examples of what PM's can do to control Scope Creep. (2 marks) Ceremony. This is an event where award winning students are recognized by industry partners and professors. The evening itinerary typically includes award presentations, photographs, invited family & friends and food/drink 6. You have been hired to the Project Management team responsible for reception. delivering a new residence facility for George Brown College. List 3 stakeholder categories, a potential stakeholder (title or function) that would Create a first draft of the project schedule for this event. Be sure to include a belong to each, and one primary requirement for each. (6 marks) WBS and all the important elements that you typically would find on a Stakeholder Stakeholder Microsoft Project type of gantt chart. This is a first draft so 4 work packages Category will be sufficient, and "Level 2" details should share 3-4 activities for each work package. Feel free to make assumptions where necessary. Use the space below to create the WBS and the chart on the next page to create the schedule. (18 marks)