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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 project duration with constrained resources - Answer-IFCRAC:
Improve efficiency (remove bureaucracy)
Fast tracking (parallel vice sequential)
Critical Chain Method
Reduce Scope
Compromise Quality
Options for reducing project duration when resources are not constrained - Answer-
ROO-SED:
add Resources
Outsource Work
schedule Overtime
EStablish core team
Do it twice - fast and correctly
Project Indirect Costs - Answer--Costs that cannot be associated with any particular
work package or project activity.
--Supervision, administration, consultants, and interest
-Costs that vary (increase) with time.
--Reducing project time directly reduces indirect costs.
Project Direct Costs - Answer-Normal costs that can be assigned directly to a specific
work package or project activity (Labor Materials Equipment)
Escalation - Answer-A way to manage conflicts so that disagreements are brought up to
the appropriate decision makers level for resolution
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
Two approaches to outsourcing project work - Answer-Partnering Approach - shared
goals/objectives, good comms, open access, trust. Negotiate win-wins
Traditional Approach - suspicion, distrust, self-interest
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