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OMGT 5783 Final Exam Questions and Answers
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OMGT 5783 Final Exam Questions and Answers
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OMGT 5783 Final Exam Questions andAnswers
Options for Reducing Duration with Constrained Resources - Answer-- Fast Tracking
- Critical Chain Management
- Reducing scope
- Compromise quality
Options for Reducing Duration with No Constrained Resources - Answer-- Add
resources
- Outsource
- Overtime
- Establish core project team
- Do it twice - quickly then correctly
Indirect Costs - Answer-Cannot be associated with any particular activity (e.g.
administration, consultants, and interest) and change with time. Reducing project
duration reduces indirect costs.
Direct Costs - Answer-Assigned directly to a particular activity (e.g. labor, materials,
equipment). Crashing activities increases direct costs.
Crashing - Answer-Shortening an activity
Cost Slope (Formula) - Answer-Cost Slope = (CrashCost - NormalCost) /(Normal Time
– Crash Time)
Advantages of outsourcing project work - Answer--Cost reduction
-Faster project completion
-High level of expertise
-Flexibility
Disadvantages of outsourcing project work - Answer--Coordination breakdowns
-Loss of control
-Interpersonal conflict
-Security issues
-Political hot potato
Best Practices in Outsourcing Project Work - Answer--Well-defined requirements and
procedures.
-Extensive training and team-building activities.
-Well-established conflict management processes in place.
-Frequent review and status updates.
-Co-location when needed.
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