Identify all potential causes which could explain why the problem occurred. Test each potential cause against the problem description and data. Identify alternative corrective actions to eliminate root cause. Verify Corrective Actions. Confirm that the selected corrective actions will resolve the problem for the customer and will not cause undesirable side effects.
(b) Given the owner's stipulation regarding project continuity, and the need to minimize project duration, how can this conflict be resolved? What will be the effect on the project duration? Question 4 (TCO F) The following data were obtained from an Information Systems project to upgrade and expand a Local Area Network: (a) Calculate the Cost and Schedule Variances and Indexes for tasks A, B, C, D, and E. (b) As project manager, write a brief summary of the
Weight the criteria The decision-maker weights the previously identified criteria in order to give them correct priority in the decision. Generate alternatives The decision maker generates possible alternatives that could succeed in resolving the problem. No attempt is made in this step to appraise these alternatives, only to list them. Rate each alternative on each criterion The decision maker must critically analyze and evaluate each one. The strengths and weakness of each alternative become evident as they compared with the criteria and weights established in second and third steps.
The principal goal of project management is achieving desired results within a set timeline and budget (Haynes, 2010). This means that project implementation has to be effective in time management, resource use, and communication for it to achieve the desired results. A project manager should identify, and implement the most appropriate control systems throughout the lifespan of a project. Good control over a project is essential for success, as poor control due to ineffective strategies will result to unpleasant outcomes. Poor implementation of project control measures applied as the principal reason for the failure of Gary Allison in the management of Orion Shield Project (University of Maryland, 2003).
Phase estimating is considered a hybrid method because it encompasses characteristics from both macro and micro estimating methodologies. Phase estimate uses a two estimate approach to account for the uncertainty surrounding a project. This type of estimate will provide the best results for FTI considering the lack of work with the current vendor, the radical project selection method of the CEO, and the importance of the project. Phase estimating begins with a macro estimate of the project but as the project progresses, the estimate is refined. As the project moves forward, a detailed (micro) estimate for the current phase of the project is developed and the macro estimate is refined for the remainder of the project.
(Cooper, Grey, Raymond and Walker, 2005 pg.152) This process breaks down each step and the risks involved with the steps as well as document these steps. This will be a vital document that will assist the team repeatedly throughout the process and can be used to assist in the planning of future similar projects. See graph on page 155 of the text for the likelihood assessment. Which phase does a better job at quantifying risk? Phase II does a better job at quantifying risk for this project.
Information used to control future functioning of the system is called feedback. What would you consider the usefulness and limitations of survey feedback? How can “framing” provide inconclusive and misleading survey results? Please provide at least one real-life survey which has been “framed” How would you rephrase the question? “Survey feedback is the process of collecting and feeding back the data from an organization or department through the use of questionnaire or survey.” In this process, the data are analyzed, fed back to the employees and the data are used to diagnose the organization and develop interventions to improve the current condition of the organization or to resolve the issue facing the company.
Results given here will essentially give us a rough estimate on the budget of our initial concepts. So while we know what consumers feel are the most essential features, this provides the information that will let us know how far we can take those essential features and apply them to our product without going above our target markets price range. Question 3 - Would you be willing to pay more to get extra features such as a stand, visor or extra storage? We can gather more than one piece of information from this particular question. Firstly, if we see a strong response to a particular function or feature we will know that including said function or feature will be considered a necessity due to a high demand.
Assessment activity 1: Review organisational processes, procedures and requirements for undertaking risk management 1. Create your own definitions for the following terms: a) Risk: A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action. b) Risk management: The identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. c) Risk appetite: The amount a business is willing to place at risk in the pursuit of its objectives d) Risk capacity: The amount a business is capable of loosing before it endangers its own sustainability 2. Comment on the following saying in relation to the risk management policies and practices of an organisation: “ Organisations that fail to plan, plan to fail” If an organization does not have a risk plan is likely that any risk occurring with negative consequences occur organization.
We then review the literature on various causes of this misallocation. We go on to calibrate a simple model which explicitly introduces the possibility of misallocation into an otherwise standard growth model . We show that, in order to match the data, it is not enough to have misallocated factors: there also needs to be important fixed costs in production. We conclude by outlining the contour of a possible non-aggregate growth theory, and review the existing attempts to take such a model to the data. JEL numbers O0, O10, O11, O12, O14, O15, O16, O40 Keywords: Non-aggregative growth theory; aggregate production function; factor allocation; non-convexities.