Explain meaning of contingency fee

Assignment Help Project Management

Reference no: EM132763

QUESTION 1

(a) Explain meaning of "contingency fee", as it applies to Project Management. Demonstrate your answer.

(b) Once implementation phase of a project has been reached, vendor schedules and deliveries have to be defined. Describe fully the four types of vendors that exist on the market. Provide concrete real-life examples to support your answer.

(i) Applied research
(ii) Market research
(iii) Reliability
(d) What is reason and goal the design phase?

QUESTION 2

(a) Illuminate fully activity "Fabricate the Designed Article", that is normally carried out during the implementation phase.

(b) Suppose that you are Project Manager of a team for the development of a computer-based "baby-foot game". It has been reported to you that conflicts are occurring among certain members of your team. Make propositions of performance you would take to resolve these conflicts.

(c) Provide a diagrammatic representation of the interrelated parts of a project.

Show clearly the relationship between different components and briefly describe each of them.

QUESTION 3

(a) Illustrate by means of a diagram, the "external influences" that affect a project. Briefly describe each component therein.

(b) The following is an extract of an article published in a business magazine.

"During the implementation phase, it is significant to provide temporary on-site facilities, tools and equipment for the welfare of the project members and for the smooth running of this crucial phase". Clarify how the above statement can be put into practice in a project.

(i) A system
(ii) A sub-system
(iii) A function

Reference no: EM132763

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