{"id":124494,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/project-management-questions"},"modified":"2017-08-16T05:58:45","modified_gmt":"2017-08-16T05:58:45","slug":"project-management-questions","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/project-management-questions\/","title":{"rendered":"Project management questions"},"content":{"rendered":"
\n

 <\/p>\n

    \n
  1. Why is it important for a PM to understand financial terms? Define the following financial terms: profit, profit margin, life cycle costing and cash flow analysis<\/strong>.<\/li>\n<\/ol>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

      \n
    1. What are costs<\/strong>? What are benefits<\/strong>? What tangible cost <\/strong>and benefits<\/strong>? What are in intangible cost <\/strong>and benefits<\/strong>? What direct <\/strong>and indirect cost<\/strong>?<\/li>\n<\/ol>\n

       <\/p>\n

       <\/p>\n

       <\/p>\n

        \n
      1. What is earned value <\/strong>(EV)? Explain how earned value management <\/strong>can be used to control costs and measure project performance.<\/li>\n<\/ol>\n

         <\/p>\n

         <\/p>\n

          \n
        1. Given the following information for a one year (12 months) project:<\/li>\n<\/ol>\n

          PV = $23,000<\/p>\n

          EV = $20,000<\/p>\n

          AC = $25,000<\/p>\n

          BAC = $120,000<\/p>\n

          Answer the following questions:<\/p>\n

           <\/p>\n

            \n
          1. What is the cost variance (CV), schedule variance (SV), cost performance index (CPI) and schedule performance index (SPI) for the project<\/li>\n<\/ol>\n

             <\/p>\n

              \n
            1. How is the project doing? Is it ahead of schedule, on schedule or behind schedule? Is it under budget, on budget or over budget?<\/li>\n<\/ol>\n

               <\/p>\n

                \n
              1. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better than planned, as planned as or worse than planned?<\/li>\n<\/ol>\n

                 <\/p>\n

                  \n
                1. Use the SPI to estimate how long it will take to complete the project.<\/li>\n
                2. 5. Using the Excel template (attached below) create a Project Cost Estimate <\/strong>(like the sample below) for your Self-checkout project. Be sure to include the cost for each primary task<\/strong>. Provide summary task totals and percentage of total project cost<\/strong>.<\/li>\n<\/ol>\n

                  You must copy and paste the Project Cost Estimate worksheet into your word document <\/strong>(make sure it fits page and is readable) and answer the questions below: <\/strong><\/p>\n

                  Note below is a sample Cost Estimate. Yours should include your WBS items not what is on this sample.<\/p>\n

                  Be sure to include contingency\/reserve funds! <\/strong><\/p>\n

                  Sample project cost estimate<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

                    Why is it important for a PM to understand financial terms? Define the following financial terms: profit, profit margin, life cycle costing and cash flow analysis.       What are costs? What are benefits? What tangible cost and Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-124494","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/124494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=124494"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/124494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=124494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=124494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=124494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}