Reference no: EM131262598
1. Explain some of the basic principles of cost management, such as profits, life cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves.
2. What is meant by a sunk cost? Give examples of typical sunk costs for an IT project as well as examples from your personal life. Why is it difficult for people to ignore them when they should?
3. Give examples of when you would prepare rough order of magnitude (ROM), budgetary, and definitive cost estimates for an IT project. Give an example of how you would use each of the following techniques for creating a cost estimate: analogous, parametric, and bottom-up.
4. Explain what happens during the process to determine the project budget.
5. Explain how earned value management (EVM) can be used to control costs and measure project performance, and explain why you think it is not used more often. What are some general rules of thumb for deciding if numbers for cost variance, schedule variance, cost per-formance index, and schedule performance index are good or bad?
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Explain the relationship of the scope of a project to work
: Identify how project management improves the success of information technology projects. Explain the relationship of the scope of a project to the work breakdown structure. Use technology and information resources to research issues in IT project man..
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Expected benefits that may come from supply chain mapping
: When should firms pursue lean, agile, and/or Leagile supply chain strategies? - What are the expected benefits that may come from supply chain mapping?
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What would be the total amount of assets
: On August 1, 2014, Miles Company accepted from another company a one-year note receivable with a face amount of $4,000 and an interest rate of 8%. What would be the total amount of assets (related to the note receivable) reported on Muller's balance ..
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Annuity from an insurance company
: Larry purchased an annuity from an insurance company that promises to pay him $1, 500 per month for the rest of his life. Larry purchased the annuity in January and paid $ 170, 820 for the policy. He is 72 and in good health, and received his firs..
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Explain some of the basic principles of cost management
: What is meant by a sunk cost? Give examples of typical sunk costs for an IT project as well as examples from your personal life. Why is it difficult for people to ignore them when they should?
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Key ideas classical approaches and behavioural
: What key ideas did classical approaches and behavioural (or human resource) approaches contribute to management thinking? Be sure to include the key authors and their contributions.
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Identify the most suitable method of transporting
: Identify the most suitable method(s) of transporting your product in terms of cost, transit time, reliability, capability, accessibility, and traceability.
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Describe the type of quantitative research design selected
: Describe the type of quantitative research design selected and why this design was chosen by the author(s), i.e. Descriptive, Correlational, Causal-comparative/quasi-experimental research or Experimental research.
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Business example to illustrate what you mean
: 1. During an economic recession, discuss how management's or a union's bargaining power might be affected. Give an appropriate business example to illustrate what you mean, support it with at least one reference.
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