QUESTION 3-PM SKILLS AND RISK [25 MARKS] Your Senior Project Manager at Super IT Pty. Ltd. is extremely satisfied with your project selection and your Project Scope. Your Senior Project Manager has then shared their experiences while developing their previous projects. These included past projects having delayed schedule problems. Therefore, he/she has suggested that you need to explore all such potential factors that may contribute to your chosen project and create action plans. On the top of this, your Senior Project Manager has asked you to further analyse whether you need to proceed with the prototype of your mobile application or not. The prototype will cost you $20,000, while there will be no extra cost if you do not develop a prototype. There is a 20% probability of failure for the prototype, and the cost impact for it will be $50,000. Nonetheless, the project will make $300,000 if it is a success. If you choose to not develop the prototype, there is an 80% chance of failure with the impact cost of $150,000. Keep in mind that the project will make $300,000 if it succeeds without a prototype. (5 marks] (5 marks] 3.1 List three important skills needed as a Project Manager in order to be able to execute the tasks from Question 2 and 3 and state the reasons. 3.2 Use the cause and effect diagram (fishbone diagram) to visualise all the potential problems which could contribute to the delayed schedule problem for your chosen project. 3.3 Develop two action plans to reduce the threats of delayed schedule problems for your chosen project. 3.4 Explain how you decide whether you will develop a prototype or not. A diagram and step by step calculation are required to answer this question. (5 marks) (10 marks) QUESTION 3-PM SKILLS AND RISK [25 MARKS] Your Senior Project Manager at Super IT Pty. Ltd. is extremely satisfied with your project selection and your Project Scope. Your Senior Project Manager has then shared their experiences while developing their previous projects. These included past projects having delayed schedule problems. Therefore, he/she has suggested that you need to explore all such potential factors that may contribute to your chosen project and create action plans. On the top of this, your Senior Project Manager has asked you to further analyse whether you need to proceed with the prototype of your mobile application or not. The prototype will cost you $20,000, while there will be no extra cost if you do not develop a prototype. There is a 20% probability of failure for the prototype, and the cost impact for it will be $50,000. Nonetheless, the project will make $300,000 if it is a success. If you choose to not develop the prototype, there is an 80% chance of failure with the impact cost of $150,000. Keep in mind that the project will make $300,000 if it succeeds without a prototype. (5 marks] (5 marks] 3.1 List three important skills needed as a Project Manager in order to be able to execute the tasks from Question 2 and 3 and state the reasons. 3.2 Use the cause and effect diagram (fishbone diagram) to visualise all the potential problems which could contribute to the delayed schedule problem for your chosen project. 3.3 Develop two action plans to reduce the threats of delayed schedule problems for your chosen project. 3.4 Explain how you decide whether you will develop a prototype or not. A diagram and step by step calculation are required to answer this question. (5 marks) (10 marks)
