Schedule Risk and Readdressing Scope
Anonymous

Question Description

"Schedule Risk and Readdressing Scope"

  1. Imagine you are working on a project where the project manager does not analyze the critical path.
  2. Select two (2) tool or techniques that you would use to analyze the critical path, and appraise the importance of your critical path analysis to both the project manager and the client.
  3. Imagine you are working on a project to establish WAN/LAN for about 50 workstations.
  4. Select two (2) tool or technique that you would use in order to address schedule risk.
  5. Provide a rationale to support your response.
  6. Use a min of two (2) reliable resources using APA format

"Establishing a Performance Measurement Baseline"

  1. Imagine that you are managing a project that involves the development of a new hotel in Washington, DC, near all of the major tourist ttractions. The hotel will have 250 rooms, which will generate room revenues of between $250-300 per night per room.
  2. You are required to submit a budget proposal for this project.
  3. Determine the top-three (3) important elements of your budget proposal, and specify the main reasons why each element you have determined are important.
  4. Using the same scenario from Part I of this discussion, determine the best way to establish a performance measurement baseline for your hotel project.
  5. Thoroughly Justify your response
  6. Use a min of two (2) reliable resources using APA format

"Collecting Cost and Schedule Performance Metrics"

  1. Watch the video titled “Cost Management Basics” (7m 59s). Video Source: SoftwareManiacLSM. (2012, Feb 6). [Video file]. Be prepared to discuss.
  2. Watch the video titled “What is Earned Value Management (EVM)?” (10m 8s). Video Source: Lynda.com Project Management Institute. (2014, Mar 18). [Video file].
  1. From the first and second videos, develop one (1) innovative way to track key project costs (e.g., labor hours) for a complex project that lasts for two (2) years and involves more than fifty (50) resources.
  2. Be as creative as you like, and provide two (2) example which shows the significant ways in which your innovation would work in a real-world situation.
  3. Using the hotel project above, determine the best practice for conducting an earned value analysis for the project in question.
  4. Provide a rationale for your determination and two (2) specific example which illustrates the significant ways in which the best practice in question would work in real life.
  5. Use a min of two (2) reliable resources using APA format

Final Answer

What's up? 😁 Nice to meet you! Anything I should know before I begin?
Attached.

Running head: PROJECT MANAGEMENT

1

Schedule Risk and Readdressing Scope
Name
Institutional Affiliation

PROJECT MANAGEMENT

2

Schedule Risk and Readdressing Scope
Project management is essential in enhancing the quality of the project. Projects require
monitoring to ensure that they meet the set requirements including design, time and cost. Many
firms fail to implement their projects for lack of project management strategies successfully.
Since projects are prone to risks, it is necessary for managers to schedule a risk management
technique that helps to mitigate risks associated with the project. Another important factor in
project implementation is the development of a performance measurement baseline that allows
organizations to assess the performance of the project. Development of a cost strategy helps to
establish costs and ensure that the scheme operates within the set budget. Successful execution of
projects, therefore, requires expert management to ensure that all processes are in line with the
set budget.
Tools or techniques to analyze critical path
The development of a critical path helps the project managers to understand set a time
frame within which the project must be completed. This helps to save on time and money that
would have been spent if the program did not have an outlined path to follow. A critical path,
therefore, refers to the sequence of stages that help to determine the longest amount of time
needed to complete the entire project (Salman, 2013). This ensures that the project budgets for
the slowest pace which means that the plan is more likely to be completed before the set time if
the workers are motivated. The period considered by the critical path is between the start and
finish dates including the associated tasks and the time taken to complete them. Various tools can
be used to analyze the critical path analysis of a project and MS Project is one of them. It assists
the project manager to develop a plan in which they assign tasks, monitor progress, ma...

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