PM 343: Advanced Concepts: Project Planning and Control.

IN THIS EXAMINATION, YOU MAY HAVE NEED OF SOME FORMULAE. HERE ARE SOME. FOLLOWING THEM IS QUESTION NO. 1 CONTROL CHARTS: Table of constants n D3 D4 A2 4 0.000 2.282 0.729 5 0.000 2.114 0.577 6 0.000 2.004 0.483 7 0.076 1.924 0.419 8 0.136 1.864 0.373 9 0.184 1.816 0.337 10 0.223 1.777 0.308 Range: UCLR = D4R LCLR = D3R Means: UCLx = x + A2R LCLx = x - A2R EARNED VALUE: SV = EV - PV; SPI = EV/PV CV = EV - AC; CPI = EV/AC CR = SPI x CPI EAC = BAC/CPI VAC = BAC - EAC ETC = EAC - AC PROFITABILITY MODELS: NPV = Ao + Sum from t=0 to t=n of Ft /(1+R)t NOW FOR QUESTION 1. "The ideal project manager would probably have doctorates in engineering, business, and psychology, and experience with ten different companies in a variety of project ofice positions, and would be about twenty-five years old." This sentence is certainly an exaggeration, but there are definitely a number of skills in which project managers require proficiency. Ten, for example, are listed in the text. Name any four. Answer:

2. The Marin Manufacturing Company (MMC) produces O-rings for high-end baby strollers. It is important for the company to maintain the high standards that so distinguish MMC from that of its competitors. The quality inspector randomly selects O-rings from the ring machine and measures the outside diameter of the ring, a critical quality dimension that determines whether the O-ring will fit properly. The dimensions (in.) from the last six samples are: O-ring Dimensions (in.) Sample 1 2 3 4 1 0.597 0.612 0.588 0.600 2 0.620 0.601 0.607 0.603 3 0.640 0.570 0.585 0.592 4 0.581 0.605 0.595 0.588 5 0.585 0.614 0.608 0.604 6 0.690 0.583 0.617 0.579 Assume that only these six samples are sufficient and use the data to determine control limits for an R-chart and an x-chart. You need not draw the chart here on the test, just come up with the answers to these questions: (1) What are the Upper Control Limits and Lower Control Limits for the R chart? Show work. (2) What are the Upper Control Limits and Lower Control Limits for the x chart? Show work. (3) Is the process under control? Why?

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3. Choosing the right type of contract is necessary for effective procurement management. There are several different contract formats available, and it's important to understand which party (contractor or owner) bears the risk in each. (a) Who has the predominant risk in a Cost Plus Fixed Fee (CPFF) contract? (b) Who has the predominant risk in a Fixed Price (or Lump Sum) contract? (c) Name a contract type in which the risks and savings are shared

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4. Six Sigma is a major paradigm for quality management. It seeks improvement through a five phase process, usually defined by the acronym of the first letters of each word in the process. What is that process called, and what words do the letters stand for?

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5. The Project ________________________________ is a documented economic feasibility study for which the project sponsor is generally accountable. The ________________________________ is the documented explanation defining the processes for creating, maximizing and sustaining the benefits provided by the project.

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