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Question: As the Managing Director of your organization, you have been analyzing other institutions that you regard as competitors. Extrapolating your current position up to t
Question: (a) Why is project monitoring important? (b) Outline the aspects you would check in a project monitoring meeting? (c) What corrective actions can be taken in th
Explain about the term performance management systems in brief. Performance management systems: Measurement processes of frequently assessing a projects progress in oppos
How is Economic Order Quantity depended on costs? Economic Order Quantity depends on two costs as illustrated below: - Inventory procurement costs that consist of expenditur
What is Buffering in risk management? Buffering: Buffering or slack is the allowance of additional cost, resources or time for example ‘just in case’ specific events or r
What are the techniques used for a post completion review? Techniques used for a PC (post completion) review: a. End user satisfaction surveys regarding to the quality of th
Steps for National Competitive Bidding (NCB) Similar to ICB, we have two ways involved in NCB: one with pre-qualification, another without prequalification. Steps for NCB are
Question 1: Discuss the major elements required in a project control system and explain how a control system can be developed. Question 2: (a) Explain the role and natu
Define the term risk in risk management. Risk: It is the probability or chance of something which may or may not arise; this is something that can be quantified by using s
Project process cycle Any project professionally planned will target specified goals within the framework of time with available resources. The project passes through the foll
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