University Of Houston-Downtown
Project Management AA4305
March 24, 2013
The Manchester United Soccer Tournament project team (Review Manchester United case at the end of Chapter 4) has identified the following potential risks to their project: How would you recommend that they respond (i.e., avoid, accept,) to these risks and why? Create a table or chart.
a. Referees failing to show up at designated games. Avoiding risks-employ referees with good track record b. Fighting between teams. Avoiding risks-keep teams in separate dressing rooms or disqualify any fighting teams c. Pivotal error committed by a referee that determines the outcome of a game. Mitigating risks-place more referees on the field as well as recording equipment. Abusive behavior along the sidelines by parents. d. Inadequate parking. Sharing risks-fighting between parents can be avoided by taking pre-cautious measures such as security guards patrolling the field and company representatives around the field to resolve issues.
e. Not enough teams sign up for different age brackets. Sharing risks-the event on the day should depend on the number of registration. If not enough people has signed the age bracket then a decision regarding the occurrence of the game should be made at least the day before the match. f. Serious injury. Transferring risks-insurance should cover the cost related to risk of player injuries if they are significant
1. Identify and briefly describe the three types of project constraints. Technical/logic-the sequence that the activities must be done. Resources- is the absence of required people, materials, equipment, or working capital. Physical-limitations based on space or environmental limits. 2. If your project has spent $50,000 versus a budget of $45,000 and it is a week ahead of schedule, is it a certainty that your project is doing well? Yes, it is considered to be doing well because it has finish a week a head but has spent $5,000 more that had been projected.
1. Identify and briefly describe five reasons for attempting to reduce the duration of a project. - imposed durations made by top management
-market demands created by competition and rapid technology advances - Incentive contracts that pay for early project completion
- Recovery of unforeseen project delays
- To reduce project costs by reducing charges created by high overhead costs, -to reassign key resources to other projects.
1. Identify and give an example for both of the major categories that make up project costs. The two main categories are "Expected Expenditure" and "Expected Income". Expected expenditure
The Operational costs - costs that are linked to the specific projects or campaigns that you plan to run that year. This would include things like buying materials, printing costs, transport costs, workshop costs, catering, media production, venues and sound systems. Expected income
Sales - if you sell your services or any products.
2. Given an equal level of risk and the need to reduce overall project duration, why would you not select the activity with the lowest slope in the entire project network to crash first? Explain 1. Imposed durations made by top management
2. Market demands created by competition and rapid technology advances 3. Incentive contracts that pay for early project completion 4. recovery of unforeseen project delays
5. to reduce project costs by reducing charges created by high overhead costs, 6. to reassign key resources to other projects.
Because the higher the slope of an activity the greater the cost to reduce its duration. 3. What do we mean when we say that a project network is...