Project Management Assignment
Problem 1: Total Estimated Cost Calculation
Estimated Costs:
• Personnel: $120,000
• Hardware: $30,000
• Software Licenses: $15,000
• Miscellaneous Expenses: $5,000
Answer:
The total estimated cost of the project is $170,000.
Problem 2: Earliest Completion Date Calculation
Task Durations:
• Task A: 5 days
• Task B: 3 days
• Task C: 7 days
• Task D: 4 days
Dependencies:
• Tasks A and B must be completed before Task C can start.
• Task D can start only after Task C is completed.
Critical Path Calculation:
1. Tasks A and B can run concurrently:
o Max(A, B) = 5 days
2. Task C starts after Tasks A and B are complete:
o Total = 5 (A and B) + 7 (C) = 12 days
3. Task D starts after Task C:
o Total = 12 + 4 (D) = 16 days
Convert Days to Weeks:
The calculation assumes 5-day workweek.
Week = Total Days / Days Per Week => 16/5 => 3.2
The earliest possible completion duration is approximately 3 weeks and 2 days.
Problem 3: Performance Indices
Given Data:
• Planned Value (PV): $60,000
• Earned Value (EV): $50,000
• Actual Cost (AC): $70,000
1. Cost Performance Index (CPI):
CPI = EV / AC
CPI = 50000 / 70000
CPI = 0.7
2. Schedule Performance Index (SPI):
SPI = EV / PV
SPI = 50000 / 60000
SPI = 0.8
3. Analysis:
• Budget: CPI < 1 indicates the project is over budget.
• Schedule: SPI < 1 indicates the project is behind schedule.
According to my calculations, the project is over budget and behind schedule.
Problem 4: Online Retail Application Development
Background: You are part of a team responsible for developing an online retail application
for a local business. The project has been initiated due to increasing demand for online
shopping options.
Scenario: During the development phase, you encounter several challenges:
1. Frequent changes in requirements from stakeholders.
2. Delays in feedback from the UI/UX team.
3. Technical difficulties with integrating payment gateways.
Challenges Analysis:
1. Frequent Changes in Requirements:
o Impact: Increased development time, rework, and scope creep.
o Mitigation: Implement a formal change management process, prioritize requirements,
and conduct regular stakeholder meetings.
2. Delays in Feedback from UI/UX Team:
o Impact: Bottlenecks in development and testing phases.
o Mitigation: Set clear deadlines for feedback, increase collaboration using agile sprints,
and assign a liaison to coordinate with the UI/UX team.
3. Technical Difficulties with Payment Gateway Integration:
o Impact: Delayed implementation and potential project derailment.
o Mitigation: Engage payment gateway technical support, allocate a dedicated developer
to resolve integration issues, and explore alternative payment gateway options if needed.
Proposed Strategies:
• Agile Methodology: Regular sprints with deliverables to manage changes and track
progress.
• Communication Plan: Weekly stand-ups to address delays and ensure team alignment.
• Risk Management: Maintain a risk log and pre-emptively address potential delays.
Problem 5: Logical Questions
1. Logical Reasoning:
Developer Work Rates:
• Developer A: 1 module in 10 days
• Developer B: 1 module in 15 days
• Developer C: 1 module in 20 days
Combined Work Rate:
The combined work rate refers to how much work a group of individuals can complete
together in a unit of time, given their individual work rates.
Work Rate Formula:
If A, B, and C represent the times taken by individuals to complete a single task, their
combined work rate is calculated as:
Combined Work Rate= 1 / A + 1 / B + 1 / C
Combined Work Rate = (1/10)+ (1/15)+ (1/20) => 13/60 => 0.216
Time to Complete Module:
Time Formula: 1 / Combined Work Rate => 1 / 0.216 => 4.62
It will take approximately 4.62 days for all three developers to complete the module
together.
2. Decision Making:
Factors to Consider:
• Current Vendor:
o Historical performance data.
o Potential for improvement with additional support or resources.
• New Vendor:
o Credibility and recommendations.
o Risk of untested performance.
Decision Process:
1. Conduct a cost-benefit analysis.
2. Assess the potential impact on project timelines.
3. Evaluate the risk tolerance of stakeholders.
4. If switching vendors, ensure clear documentation and contingency plans.
The decision should weigh the current vendor's performance against the risk and potential
benefits of the new vendor. Prioritize minimizing disruptions to the project timeline.
