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updated 5 months ago
Category: Business
What would be the result if all project managers decided to withhold a management reserve? What criteria should be used for determining when a management reserve is necessary?
Editor November 1, 2023
If all project managers within an organization decided to withhold a management reserve, it could have several implications and consequences: Increased Risk: Without a management reserve, project managers may face (View full solution)
updated 5 months ago
Category: Business
ABC Corporation has recently given out a nine-month contract to a construction subcontractor. At the end of the first month, it becomes obvious that the subcontractor is not reporting costs according to an appropriate WBS level. ABC Corporation asks the subcontractor to change its cost reporting pro...
Editor November 1, 2023
ABC Corporation can take several steps to address the issue of a subcontractor not reporting costs according to an appropriate Work Breakdown Structure (WBS) level without incurring additional funding. Here (View full solution)
updated 5 months ago
Category: Business
Alpha Company has implemented a plan whereby functional managers will be held totally responsible for all cost overruns against their (the functional managers’) original estimates. Furthermore, all cost overruns must come out of the functional managers’ budgets, whether they be overhead or otherwise...
Editor November 1, 2023
Holding functional managers totally responsible for all cost overruns against their original estimates and requiring them to cover the cost overruns from their budgets, rather than the project budget, has (View full solution)
updated 5 months ago
Category: Business
What impact would there be on BCWS, BCWP, ACWP, and cost and schedule variances as a result of the:a. Early start of an activity on a PERT chart?b. Late start of an activity on a PERT chart?
Editor November 1, 2023
The impact on BCWS (Budgeted Cost of Work Scheduled), BCWP (Budgeted Cost of Work Performed), ACWP (Actual Cost of Work Performed), and cost and schedule variances due to the early (View full solution)
updated 5 months ago
Category: Business
Below are several factors that can result in project delays and cost overruns. Explain how these problems can be overcome.a. Poorly defined milestonesb. Poor estimating techniquesc. A missing PERT/CPM chartd. Functional managers not having a clear understanding of what has to be donee. Poor programm...
Editor November 1, 2023
To overcome project delays and cost overruns caused by the factors mentioned, the following strategies and solutions can be implemented: a. Poorly defined milestones: Solution: Clearly define project milestones during (View full solution)