Reference no: EM133320711

Questions

1. Explain with example what is cost of conformance and cost of non-conformance?

2. The project manager wants to meet with team member to review lesson learned from previous projects. In what activity the team will be involved? Select your answer and explain.

Performance Management

Identification of the scope

Risk Identification

Project team meeting

3. The Project Manager should involve followings during time estimation for project: Select your answer and explain.

Guess and estimate the time

Involve team who will be doing the work to get better estimated time

Ask sponsor

None of above

4. What is the most accurate in assessing cost? Select your answer and explain.

Rough order of Magnitude with an accuracy level

Definite estimate with an accuracy level

Both 1 and 2

5. Provide one example each in Analogous estimation and Parametric estimation in your own words.

6. You are the project Manager for ABC Company. ABC company constructed a fifty story condominium. You have successfully closed the project. One month after closing the project, you received a $25,000 invoice from one of your major contractors. You are surprised by this.

What are you going to do now? Write down step by step what you would do next.

Explain why you will do that?

In future projects is there anything you would do different based on learned from Condominium Project? Explain your reasoning.