A Project Manager Ascertained That Five Different Resources Are Needed

question 11

Essay

A project manager ascertained that five different resources are needed to complete a project that has been estimated to last 37 days.Just to be on the safe side,the project manager told the client that the project would definitely be delivered in 40 days and 40 nights and arranged to rent the resources for that period of time.The project manager goes to the local rental center at the start of day 1 of the project,signs a 40-day lease agreement for all five resources,and brings them to the site to begin the project.Analyze the Gantt chart and resource list (activity durations are in parenthesis)and determine how much money is being wasted with this rental plan.If each resource could be rented for just the time it takes to complete each activity,what would the charge to the project be?

Understand the strategic options available to firms in the context of new investments and project management.

Categorize the different types of costs and their relevance in pricing and financial decision-making.

Comprehend the process and utility of break-even analysis in evaluating project viability.

Appreciate the role of managerial options in project analysis and decision-making.

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Definitions:

Shaping

A procedure for teaching complex behaviors that at first reinforces approximations of the target behavior.

Behavioral Goal

A behavioral goal is an objective designed to modify an individual's actions or responses to achieve a desired outcome.

Progressive Steps

A series or sequence of steps taken toward achieving a particular goal, emphasizing gradual advancement or improvement.

Operant Conditioning

A method of learning in which the intensity of a behavior is altered through rewards or penalties.