Principle of project management

Running head: PRINCIPLE OF PROJECT MANAGEMENT
Principle of project management
Name of the student:
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Author note

1PRINCIPLE OF PROJECT MANAGEMENT
Table of Contents
Answer to problem A:................................................................................................................2
1..............................................................................................................................................2
2..............................................................................................................................................2
3..............................................................................................................................................2
a..........................................................................................................................................2
b..........................................................................................................................................3
Answer to problem B:................................................................................................................3
1..............................................................................................................................................3
2..............................................................................................................................................4
Reference:..................................................................................................................................5

2PRINCIPLE OF PROJECT MANAGEMENT
Answer to problem A:
1.
0 5000 10000 15000 20000 25000 30000 35000
0
1000
2000
3000
4000
5000
6000
PPF
Schmeckt Gut Energy Bar
Schmeckt Gut 2.0
Figure 1: Production Possibility frontier
Source: (Created by Author)
2.
Production Possibility Frontier (PPF) is a graphical presentation of the maximum
output possibilities in case of the two different goods (Manning, 2014). As it can be seen
from the figure 1, within the given technology and input, maximum Energy Bar can be
produced 30000 unit and Schmeckt Gut 2.0 can be produced 5000 unit. Blue curve shows
each point at which production of the two commodities can be maximised and if the
production is not as per the PPF curve, there will diseconomies of scale leading to fall in
production.
3.
a.
Following situations may lead to output rise (Mueller et al., 2014):
 Change in technology will enhance in the productivity of the goods leading to rise in
production