1. How does risk level vary with project life cycle stage? What is the period of highest risk impact? Why?
2. Compare and contrast the Product Life Cycle and the Project Life Cycle?
3. The success of individual project is typically measured by performance compared to three constraints usually placed on all projects. Identify and describe those three constraints.
4. Where in the project life cycle are the intensity level of resources and client interest at their highest? Why is this the case?
5. What are some ways project managers can acquire additional resources if they feel their project lacks sufficient support?
I-As you know many problems can cause the failure of any project. In the following problem you are given four scenarios. In each one you are to provide the solutions and project management tools to manage the situation.
1. Your client gives you some changing requirements. What are the potential problems of this situation? Provide tools how to manage it?
2. There are a lot of stakeholders who would like to be involved in your project. Please provide strategies for shareholders management depending on their impact and interest in the project.
3. The scope of the project has been completed. You receive a request for a new module to be developed as part of this project. What should you do?
4. There was a conflict between two key project members. What should you do in such a situation?
II-You are in the process of selecting a contract for your project. You are planning to use weighing process for source selection. There are four sellers being considered. There are two deciding factors price (weight 40) and quality (weight 60). The scores of four sellers that your team has computed are displayed in the table below. Which seller will among these four should be chosen? Justify your answer?
Seller1 Seller 2 Seller 3 Seller 4
Price 6 8 14 12
Quality 10 8 10 12
III-You are using straight line depreciation to compute the value of your laptop after four years. If the current cost is $2000, what will be the value after four years assuming that the laptop’s life is five years?