estimating project times and costs, business and finance homework help

Anonymous

Question Description

Question: Read the case "Post-Graduation Adventure" on page 154 in the course book. Answer the following questions applying the concepts you have learned thus far in the course:

  • Assume you are either Mike or Josh, how would you go about making a decision using project management methodology?
  • Looking first at only cost, what decision would you make?
  • After cost, what other factors should be considered before making a decision?
  • Use search engines such as Expedia, Kayak, etc. to come up with cost and figures accordingly in an effort to make an informed decision on which location to visit.

BELOW IS THE CASE FROM THE BOOK

"Post Graduation Adventure"

Josh and Mike met each other as roommates during freshmen year at MacAlister College in St. Paul, Minnesota. Despite a rocky start they became best friends. They are planning on going on a two week adventure together to celebrate their graduation in June. Josh has never been to Europe and wants to visit France or Spain. Mike spent a semester abroad in Aarhus, Denmark, and traveled extensively in Northern Europe. Even though he never went to France or Spain, Mike wants to go to some place more exotic like South Africa or Vietnam. For the past week they have been arguing back and forth over where they should go. 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 or South Africa once they are there. Each of them agreed that they can spend no more than $3,500 each on the trip and could be gone for only two weeks.

One evening when they were arguing with each other over beers with friends, Sara said, “Why don't you use what you learned in your project management class to decide what to do?” Josh and Mike looked at each other and agreed that made perfect sense.


Reference: Larson, E. W., & Clifford, G. F. (2014). Chapter Five/Estimating Project Times and Costs. In Project Management: The Managerial Process (6th ed., pp. 123-154). McGraw-Hill.

Tutor Answer

Raphael_M54
School: UC Berkeley

Hello! here is the final answer. If you need any revisions or changes done, just let me know.

Running Head: PROJECT TIMES AND COSTS

Project Times and Costs
Name
Institutional Affiliation
Date

1

PROJECT TIMES AND COSTS
Introduction
Assuming that I am mike for this case study, my aim is to choose a cheaper travel
destination. Josh’s choice is to travel to France or Spain with the prices ranging from $513 to
$714 for France and $703 to $1395 for Spain (Kayak, 2017). On the other hand, I would like to
travel to either Vietnam or South Africa with the prices ranging from $879 to $1963 for South
Africa and $766 to $ 1347 to travel to Vietnam (Kayak, 2017). In bot...

flag Report DMCA
Review

Anonymous
The tutor was pretty knowledgeable, efficient and polite. Great service!

Anonymous
Heard about Studypool for a while and finally tried it. Glad I did caus this was really helpful.

Anonymous
Just what I needed… fantastic!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4
Similar Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors