Please complete the following work from the chapters listed below in your textbook. Show detailed work in your submittal and create this in Microsoft Word, Excel, or Project (Time New Roman or Arial, font 11 or 12) document(s) as required; draw any diagrams and/or cut-and-paste screen captures into ONE Microsoft Word document Use your textbook, lecture notes, Powerpoints and chat discussions from the appropriate Unit/Chapter to complete this assignment:
- Read, list and discuss:
- The stages of group development
- Types of conflicts
- Types of negotiation
1. 1.Do you agree with the following statement: “With proper planning it is possible to eliminate most/all risks from a project.” Why or why not?
- Assessing Risk and Benefits. Suppose you are a member of a project team that is evaluating the bids of potential contractors for developing some sub-assemblies for your project. Your boss makes it clear that any successful bid must demonstrate a balance between risk and price. Explain how this is so; specifically, why are price and risk seen as equally important but opposite issues in determining the winner of the contract? Is a low price/high risk bid acceptable? Is a high price/low risk bid acceptable? Why or why not?
Discussion Questions (DQ):
- Why is cost estimation such an important component of project planning? Discuss how it links together with the Work Breakdown Structure and project schedule?
- Think of an example of parametric estimating in your personal experience, such as the use of a cost multiplier based on a similar, past cost. Did parametric estimating work or not. Discuss the reasons why.
- Would you prefer the use of bottom-up or top-down budgeting for project cost control? What are the advantages and disadvantages with each approach?
- Calculate the direct cost of labor for a project team member using the following data:
Hourly rate: $35/hr.
Hours needed: 150
Overhead rate: 55%
2. Assume that overhead is charged on a flat rate basis.Each member of the project is assigned an overhead charge of $150/week.What would the direct cost of labor be for an employee, given that she is assigned to the project for 200 hours at $10.50/hour?
3. It took MegaTech, Inc. 100,000 labor-hours to produce the first of several oil drilling rigs for Antarctic exploration.Your company, Natural Resources, Inc. has agreed to purchase the fifth oil drilling rig from their manufacturing yard. Assume that MegaTech experiences a learning rate of 80%.At a labor rate of $35 per hour, what should you, as the purchasing agent expect to pay for the fifth unit?Remember, the simplified formula for calculating learning rate time is given as:
TN = T1C
Where TN = Time needed to produce the Nth unit
T1 = Time needed to produce the first unit
C = Learning curve coefficient