management project and need support to help me learn.
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Requirements: everything in file
College of Administrative and Financial Sciences
Assignment 2
Project Management (MGT 323)
Due Date: 18/02/2023 @ 23:59
For Instructors Use only
General Instructions PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted. Peer-Reviewed Journals are required as references.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Do not make any changes in the cover page.
Assignment Workload:
This Assignment comprise of a Case Study questions.
Assignment is to be submitted by each student individually.
Assignment Purposes/Learning Outcomes:
After completion of Assignment-2 students will able to understand the
Defining the concepts, theories and approaches of project management. (L.O-1.1)
Analyze to work effectively and efficiently as a team member for project related cases. (L.O-3.1)
Evaluate to monitor and control the project. (L.O-3.2)
Assignment-2: Case Study
Assignment Case study Question: (Marks 15)
Please read the Case-5.2 Post Graduation Adventure.? from Chapter 5 Estimating Project Times and Costs? given in your textbook Project Management: The Managerial Process 8th edition by Larson and Gray page no: 93 also refer to specific concepts you have learned from the chapter to support your answers. Answer the following questions.
Case study questions
Assume you are either Mike or Josh; how would you go about making a decision using project management methodology? Explain in 250 words (5 Marks).
Looking first at only cost, what decision would you make? Explain in 250 words (5 Marks).
After cost, what other factors should be considered before making a decision? Explain in 250 words (5 Marks)
Answers:
Commission a break-even study for the laser printer.Very little in the way of concrete savings was identified, although therewas consensus that time could be compressed to the market launch date, butat additional costs.Lauren met with the marketing (Connor), production (Kim), and design(Gage) managers, who yielded some ideas for cutting costs, but nothingsignificant enough to have a large impact. Gage remarked, I wouldnt wantto be the one to deliver the message to top management that their costestimate is $1,250,000 off! Good luck, Lauren.?1. At this point, what would you do if you were the project manager?2. Was top management acting correctly in developing an estimate?3. What estimating techniques should be used for a mission-critical projectsuch as this?Case 5.2Post-Graduation AdventureJosh and Mike met as roommates during freshman year at MacalesterCollege in St. Paul, Minnesota. Despite a rocky start they became bestfriends. They are planning a two-week adventure together to celebrate theirgraduation in June. Josh has never been to Europe and wants to visit Franceor Spain. Mike spent a semester abroad in Aarhus, Denmark, and traveledextensively in northern Europe. Even though Mike has never been to Franceor Spain, he wants to go to someplace more exotic, like South Africa orVietnam. For the past week they have been arguing over where they shouldgo. Josh argues that it will cost too much to fly to South Africa or Vietnam,while Mike counters that it will be much cheaper to travel in Vietnam orSouth Africa once they are there. They agree that they can spend no morethan $3,500 each on the trip and could be gone for only two weeks.
A5-1page 164One evening when they were arguing with each other over beers withfriends, Sara said, Why dont you use what you learned in your projectmanagement class to decide what to do?? Josh and Mike looked at eachother and agreed that made perfect sense.1. Assume you are either Mike or Josh; how would you go about making adecision using project management methodology?2. Looking first at only cost, what decision would you make?3. After cost, what other factors should be considered before making adecision?Appendix 5.1LEARNING OBJECTIVESAfter reading this chapter you should be able to:Use learning curves to improve task estimates.LO A5-1Use learning curves to improve task estimates.Learning Curves for EstimatingA forecast estimate of the time required to perform a work package or taskis a basic necessity for scheduling the project. In some cases the managersimply uses judgment and past experience to estimate work package time oruses historical records of similar tasks.