Project Management Assignment: Answers

PROJECT MANAGEMENT

Table of Contents
Question 1.................................................................................................................................1
Question 2.................................................................................................................................4
Question 3.................................................................................................................................6
References.................................................................................................................................7

Question 1
In this question, create an activity based schedule for Crosby Manufacturing
Corporation which is demonstrated below (Haniff & Salama, 2016).
WBS Task Name Duration Start Finish
1 Crosby Manufacturing
Corporation 2373 days Mon 03-02-20 Wed 07-03-29
1.1 Gather the MCCS reporting
Procedures 2 days Mon 03-02-20 Tue 04-02-20
1.2 Create feasibility Study 15 days Wed 05-02-20 Tue 25-02-20
1.3 Objective of feasibility study 20 days Wed 26-02-20 Tue 24-03-20
1.4 Identify the Computer or Manual
based solution 20 days Wed 25-03-20 Tue 21-04-20
1.5 Determine the System objectives 25 days Wed 22-04-20 Tue 26-05-20
1.6 Determine Input requirements 35 days Wed 27-05-20 Tue 14-07-20
1.7 Determine Output requirements 40 days Wed 15-07-20 Tue 08-09-20
1.8 Determine Processing
requirements 40 days Wed 09-09-20 Tue 03-11-20
1.9 Description of Preliminary
systems 50 days Wed 04-11-20 Tue 12-01-21
1.10 Team Meetings 5 days Wed 13-01-21 Tue 19-01-21
1.11 Cost and Benefit Specification 490 days Wed 20-01-21 Tue 06-12-22
1.11.1 Determine Input and output
demands Cost 60 days Wed 20-01-21 Tue 13-04-21
1.11.2 Determine the Processing cost 60 days Wed 14-04-21 Tue 06-07-21
1.11.3 Determine Storage capacity cost 50 days Wed 07-07-21 Tue 14-09-21
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1.11.4 Determine Rental, lease and
purchase of a system cost 40 days Wed 15-09-21 Tue 09-11-21
1.11.5 Determine Non recurring
expenditures costs 60 days Wed 10-11-21 Tue 01-02-22
1.11.6 Determine Recurring
expenditure cost 50 days Wed 02-02-22 Tue 12-04-22
1.11.7 Identify Supplies costs 40 days Wed 13-04-22 Tue 07-06-22
1.11.8 Identify Facility requirements 60 days Wed 08-06-22 Tue 30-08-22
1.11.9 Identify the Training
requirements 50 days Wed 31-08-22 Tue 08-11-22
1.11.10 Feasibility Study Completed 15 days Wed 09-11-22 Tue 29-11-22
1.11.11 Design review meetings 5 days Wed 30-11-22 Tue 06-12-22
1.12 Evaluation of bids from vendors 960 days Wed 07-12-22 Tue 11-08-26
1.12.1 Evaluate the Release of
preliminary system specification 6 month Wed 07-12-22 Tue 23-05-23
1.12.2 Receipt of Bids on specification 60 days Wed 24-05-23 Tue 15-08-23
1.12.3 Order hardware and systems
software 150 days Wed 16-08-23 Tue 12-03-24
1.12.4 Create flow charts 60 days Wed 13-03-24 Tue 04-06-24
1.12.5 Install applications programs 150 days Wed 05-06-24 Tue 31-12-24
1.12.6 Collect receipt for purchased
hard and software’s 60 days Wed 01-01-25 Tue 25-03-25
1.12.7 Testing and debugging 150 days Wed 26-03-25 Tue 21-10-25
1.12.8 Changeover 200 days Wed 22-10-25 Tue 28-07-26
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1.12.9 design review meetings 10 days Wed 29-07-26 Tue 11-08-26
1.12.10 Completion of Evaluation of
Bids from Vendors 0 days Tue 11-08-26 Tue 11-08-26
1.13 VENDOR SUPPORT
EVALUATION FACTORS 580 days Wed 12-08-26 Tue 31-10-28
1.13.1 Check availability of software
and hardware packages 50 days Wed 12-08-26 Tue 20-10-26
1.13.2 Check hardware performance,
and delivery 60 days Wed 21-10-26 Tue 12-01-27
1.13.3 Emergency backup procedure 60 days Wed 13-01-27 Tue 06-04-27
1.13.4 Check availability of
applications programs 60 days Wed 07-04-27 Tue 29-06-27
1.13.5 Check capacity for expansion 50 days Wed 30-06-27 Tue 07-09-27
1.13.6
Check Availability of
consultants for systems
programming
60 days Wed 08-09-27 Tue 30-11-27
1.13.7 Identify the risk of obsolescence 60 days Wed 01-12-27 Tue 22-02-28
1.13.8 Completion of Vendor Support
Evaluation Factors 60 days Wed 23-02-28 Tue 16-05-28
1.13.9 design review meetings 60 days Wed 17-05-28 Tue 08-08-28
1.13.10 Team Meetings 60 days Wed 09-08-28 Tue 31-10-28
1.14 Financial analysis 60 days Wed 01-11-28 Tue 23-01-29
1.15 Ease of use 10 days Wed 24-01-29 Tue 06-02-29
1.16 Final completion of the Project 20 days Wed 07-02-29 Tue 06-03-29
1.17 Team Meetings 1 day Wed 07-03-29 Wed 07-03-29
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Question 2
In this question, create a budget for this project over 18 months which is presented below.
1 2 3 4 1 2 3 4
$0.00
$5,000.00
$10,000.00
$15,000.00
$20,000.00
$25,000.00
$0.00
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
Cost Cumulative Cost
The transcript of the project is presented below (Heerkens, 2015).
Name Remaining
Cost
Actual
Cost
Cost Cost Variance
Crosby Manufacturing
Corporation
$494,360.00 $0.00 $494,360.00 $494,360.00
WBS Task Name Duration Cost
1 Crosby Manufacturing Corporation 2373 days $494,360.00
1.1 Gather the MCCS reporting Procedures 2 days $320.00
1.2 Create feasibility Study 15 days $1,800.00
1.3 Objective of feasibility study 20 days $2,400.00
1.4 Identify the Computer or Manual based solution 20 days $3,200.00
1.5 Determine the System objectives 25 days $3,000.00
1.6 Determine Input requirements 35 days $4,200.00
1.7 Determine Output requirements 40 days $8,000.00
1.8 Determine Processing requirements 40 days $3,200.00
1.9 Description of Preliminary systems 50 days $8,000.00
1.10 Team Meetings 5 days $800.00
1.11 Cost and Benefit Specification 490 days $151,000.00
1.11.1 Determine Input and output demands Cost 60 days $14,400.00
1.11.2 Determine the Processing cost 60 days $19,200.00
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1.11.3 Determine Storage capacity cost 50 days $16,000.00
1.11.4 Determine Rental, lease and purchase of a system
cost 40 days $12,800.00
1.11.5 Determine Non recurring expenditures costs 60 days $19,200.00
1.11.6 Determine Recurring expenditure cost 50 days $16,000.00
1.11.7 Identify Supplies costs 40 days $12,800.00
1.11.8 Identify Facility requirements 60 days $19,200.00
1.11.9 Identify the Training requirements 50 days $16,000.00
1.11.10 Feasibility Study Completed 15 days $3,600.00
1.11.11 Design review meetings 5 days $1,800.00
1.12 Evaluation of bids from vendors 960 days $226,400.00
1.12.1 Evaluate the Release of preliminary system
specification 6 month $19,200.00
1.12.2 Receipt of Bids on specification 60 days $9,600.00
1.12.3 Order hardware and systems software 150 days $48,000.00
1.12.4 Create flow charts 60 days $14,400.00
1.12.5 Install applications programs 150 days $48,000.00
1.12.6 Collect receipt for purchased hard and software’s 60 days $9,600.00
1.12.7 Testing and debugging 150 days $12,000.00
1.12.8 Changeover 200 days $64,000.00
1.12.9 design review meetings 10 days $1,600.00
1.12.10 Completion of Evaluation of Bids from Vendors 0 days $0.00
1.13 VENDOR SUPPORT EVALUATION
FACTORS 580 days $72,800.00
1.13.1 Check availability of software and hardware
packages 50 days $4,000.00
1.13.2 Check hardware performance, and delivery 60 days $4,800.00
1.13.3 Emergency backup procedure 60 days $4,800.00
1.13.4 Check availability of applications programs 60 days $4,800.00
1.13.5 Check capacity for expansion 50 days $4,000.00
1.13.6 Check Availability of consultants for systems
programming 60 days $4,800.00
1.13.7 Identify the risk of obsolescence 60 days $9,600.00
1.13.8 Completion of Vendor Support Evaluation
Factors 60 days $4,800.00
1.13.9 design review meetings 60 days $21,600.00
1.13.10 Team Meetings 60 days $9,600.00
1.14 Financial analysis 60 days $4,800.00
1.15 Ease of use 10 days $800.00
1.16 Final completion of the Project 20 days $3,200.00
1.17 Team Meetings 1 day $440.00
Question 3
Risk Register Plan
ID Description
of Risk
Likelihood
of the risk
Impact
if the
Severity Owner Mitigating
action
5

occurring risk
occurs
1. Lack of
computerized
customer
financial
reporting
requirements.
High High High Project
manager
Take steps to
increase the
computerized
customer
financial
reporting
requirement.
2. Financial
risks
High High High Project
manager,
stakeholder
Take help of
the
stakeholders
and sponsors.
3. Operational
risks
Medium High High Project
manager
Avoid
operational
risks by
taking help
of a
professional.
4. Regulatory
compliance
risk
Medium High Medium Project
manager
Take
precautions
to make sure
that the rules
are followed.
5. Failure to
baseline
schedules
Low Medium Medium Project
manager
Ensure that
the plan is
effective.
6. Crashing
schedule
Low Medium High Project
manager
Ensure that
the schedule
is planned
well and is
on the track.
7. Assigning
the resources
wrongly
Low Low Medium Project
manager
The
resources
must be
allocated
correctly, so
be double
sure before
allocating the
resource.
8. Lack of
professional
assistance
High High High Project
manager
This is the
highly
essential
factor which
must be
avoided, and
take
professional
6

help.
Response Plan
The following must be check listed:
 Step 1: The project is cost effective.
 Step 2: The stakeholders must agree to the plan.
 Step 3: The plan must be achievable
 Step 4: The magnitude of risk is known.
 Step 5: Necessary precautions are taken.
References
Haniff, A., & Salama, M. (2016). Project management.
Heerkens, G. (2015). Project management. [Place of publication not identified]: Mcgraw-Hill
Education.
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