Ben Franklin Comparing Two Project Life Cycle Phases From PMI Model Research Paper

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Ben Franklin Career Center

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Answer the following questions

1. Go online and search for project life cycle models. Identify at least two that are different from the PMI model, and compare and contrast the phases. Be sure to cite your sources.

2. Software project decision point.

  1. You need to determine an interest rate to use—select an interest rate and explain why you think this number should be used. Use it in your calculations in item 1.2.
  2. Given the information below on options 1 and 2, carry out three forms of analysis: breakeven, ROI, and NPV.
  3. Make a recommendation on which way to proceed, based on the TCO for each option.
  • Option 1: Purchase the FunSoft package: Cost $200,000 for software and $85,000 for hardware in year one; with $50,000 to customize it and a $40,000 annual licensing fee for the life of the contract. There will be an annual saving of $61,000 due to the layoff of a clerk.
  • Option 2: Purchase the SoftComm package, which will operate on the vendor’s hardware: Cost $250,000 for a five-year license, payable half up front and half during the first year of implementation. The maintenance contract, at $75,000 a year, includes all currently identified modifications to the software for the first three years. The clerk’s hours will be cut by half, for a saving of $25,000 a year.

In both cases, sales are expected to increase from the current $1 million a year, by 10% per year each year (over each year’s previous year’s sales) after full implementation.

Assume a five-year life for the software.

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Explanation & Answer

Attached.

1. Comparison and contrasting two project life cycle phases different from PMI model.
Project life cycle of the PMI model consists of the first stage which is the initiation stage,
followed by the second stage known as planning stage, third stage known as execution or
implementation stand and finally the last stage known as the closing stage. The staged delivery
and the pure water fall model are the two life cycle of the project that differ with the PMI model.
the stages in pure waterfall model includes the first phase is concept, the second phase is
requirements, third phase is design (architectural), the fourth phase is design (detailed), the fifth
phase is coding and development, last phase is testing and implementation. On the other hand
stage delivery model gives opportunity for the deliverable of the product at every stage. Stage
delivery model has four phases which includes...

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