Project Management

(Please Show calculations and Graphs)

Part a A project manager is considering 4 possible economic scenarios for the coming year and has developed a probability distribution showing the percent return (in 1000\$) for investing in large capital stock fund and for investing in a long-term government bond fund. The probability distributions are shown in the following Table 1. Table 1 As a Project Manager of an upcoming project, the decision of investment is important because this could be the main source of finance for the future project. Using the information provided in the Table 1, which option is better to invest in? Show your analysis using a decision tree approach. A project was awarded to you by one of your clients related to design and host a web portal for online buying and selling of pets. This platform will act as a marketplace for sellers and buyers where both the parties can negotiate regarding selling and purchasing of pets and their accessories. The payment options were both online secure payment and cash on delivery (COD). This project required you to plan some meetings with your client and visits to pets' buying and selling markets for information gathering and analysis. Keeping in mind that it was the time when outbreak of Corona pandemic was in place. Your client was asking you to complete this portal in a month's time. To complete this project, you need to have the services of marketing specialist and for the same you had requested the functional manager of marketing department. Develop work breakdown structure and Gantt chart showing cost planning and scheduling with at least five main activities of the project. Assume (any) time values and cost values as you deem okay. Scope Creep and Gold Plating are of considerable concern in many projects, especially in many IT projects as it has the potential to lead to less than satisfactory project outcomes. Most IT project managers are keenly aware of the need to manage scope creep well and employ a range of techniques to this end. Describe what is meant by Scope Creep and explain how it can lead to unsatisfactory outcomes on an IT project. Use an example to support your answer. Part a A project manager is considering 4 possible economic scenarios for the coming year and has developed a probability distribution showing the percent return (in 1000\$) for investing in large capital stock fund and for investing in a long-term government bond fund. The probability distributions are shown in the following Table 1. Table 1 As a Project Manager of an upcoming project, the decision of investment is important because this could be the main source of finance for the future project. Using the information provided in the Table 1, which option is better to invest in? Show your analysis using a decision tree approach. A project was awarded to you by one of your clients related to design and host a web portal for online buying and selling of pets. This platform will act as a marketplace for sellers and buyers where both the parties can negotiate regarding selling and purchasing of pets and their accessories. The payment options were both online secure payment and cash on delivery (COD). This project required you to plan some meetings with your client and visits to pets' buying and selling markets for information gathering and analysis. Keeping in mind that it was the time when outbreak of Corona pandemic was in place. Your client was asking you to complete this portal in a month's time. To complete this project, you need to have the services of marketing specialist and for the same you had requested the functional manager of marketing department. Develop work breakdown structure and Gantt chart showing cost planning and scheduling with at least five main activities of the project. Assume (any) time values and cost values as you deem okay. Scope Creep and Gold Plating are of considerable concern in many projects, especially in many IT projects as it has the potential to lead to less than satisfactory project outcomes. Most IT project managers are keenly aware of the need to manage scope creep well and employ a range of techniques to this end. Describe what is meant by Scope Creep and explain how it can lead to unsatisfactory outcomes on an IT project. Use an example to support your