There are two projects for the organization to choose between: Project A with an NPV of US $45,000 and Project B with an NPV of US $85,000. What is the opportunity cost of selecting project B?
You have a project with the following activities: Activity 1 can start immediately and has an estimated duration of 4. Activity 2 can start after activity 1 is completed and has an estimated duration of 8. Activity 3 can start after activity 2 is completed and has an estimated duration of 5. Activity 4 can start after activity 1 is completed and has an estimated duration of 8. Activity 5 has an estimated duration of 3 and must take place concurrently with activity 3. It can start after activities 4 and 2. What is the duration of the critical path of this project?
You are assigned to a project that senior management has already decided to outsource. As a project manager, you need to work with the contracts department to select the seller and then oversee the seller through project completion. Company policy requires a project of this size to go through a formal procurement process. A vice president in your company tells you his friend owns one of the companies that might submit a proposal and the company would be an excellent choice as a seller. This vice president has a reputation for making or breaking careers. What is generally the best course of action?
You are a project manager for a small construction project. Your project was budgeted for US $72,000 over a six-week period. As of today, you've spent US $22,000 of your budget to complete work that you originally expected would cost US $24,000. According to your schedule, you should have spent US $30,000 by this point. Based on these circumstances, your project could be best described as:
The project manager of a highly visible project is new to project management. He has carefully followed the steps to create a project management plan. During a status meeting, two of the team members argue over what needs to happen next. Whose responsibility is it to correct the problem?
Team members are investigating quality standards that other companies are using, in order to help determine what quality standards to use on the project. What part of quality management is the team involved in?