You are the project manager of the NHQ project. Your project has a budget of $1,258,456,
and is scheduled to last for three years. Your project is currently forty percent complete though it should be forty-five percent complete. In order to reach this point of the project,
you have spent $525,000. Management needs a performance report regarding the NHQ
project. Management is concerned that this project will be over budget upon completion.
Management would like to create a report telling them how much more the project will need
to complete. What value should you tell management?
You are the project manager of the AHQ project. This project is scheduled to last for six
months and will require $345,000 to complete. If the project completes earlier than
scheduled, your organization will receive a bonus of $5,000 per day of early completion.
Management has asked you to develop an aggressive schedule to realize as much of the
bonus as possible, but management does not want you to increase the costs of the project
beyond $1,000 per day of the bonus realization. Which of the following approaches will
likely add costs to the project?
You work as a project manager for BlueWell Inc. Your project requires the project team to
paint 1,500 hotel rooms. Your project team reports that it will take them approximately 4
hours to paint each hotel room. You reason, then, that it will take 6,000 hours to paint all of
the hotel rooms. What type of an estimate are you creating in this scenario?
Mary is the project manager for her organization. She is working with the project team to
define the project activities. She is concerned about some of the dependencies of the
project work, which may affect the project schedule. Which one of the following is the best
example of a project constraint that will likely affect the project's ability to finish by a given
deadline?
You are the project manager for your organization. Maagement has asked you for this
current project. You use the critical chain method to create the project network diagram
rather than the more traditional critical path method. What is the critical chain method?