MBA 640 CHAPTER 5 CONNECT HW
Assume you are the project manager for the Tidal 2 software project. You have been asked to calculate the expected cost for the project. Your company's database indicates that developers can handle eight function points each person-month and that the cost per developer at your firm is $7,400 per month. You and your team of five developers have come up with the following requirements: (Round your "Estimated duration" answer to 2 decimal places.) Calculate the total number of function points and the estimated cost and duration of the Tidal project? (Use "complexity weighting").
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Why is it difficult to estimate the costs and benefits of mega projects (e.g. airports, stadiums)? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
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Calculate the direct cost of labor for a project team member using the following data:
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Top-down estimates (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
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Which of the following is most likely to be a "white elephant?"
A bullet train system between two major metropolitan areas.
Refer to Snapshot from Practice 5.2. An estimating technique that utilizes a panel of experts is called ________.
Delphi method
Calculate the direct and total direct costs of labor for a project team member using the following data: (Round the final answer to the nearest dollar.)
Direct Cost of Labor = $5,300 Total Direct Cost = $6,890
What is a "white elephant" in project management?
It is a project that costs more and delivers less than expected, and then costs too much to maintain.
According to Snapshot from Practice 5.2, the Delphi Method makes use of ________ familiar with the kind of project in question.
a panel of experts
According to Snapshot from Practice 5.3, the smaller the element of ________, the more accurate the overall estimate is likely to be.
a work package
Below is a project WBS with cost apportioned by percent. If the total project cost is estimated to be $610,000, what are the estimated costs for the following deliverables? (Round the final answers to the nearest dollar.)
a. Design? = $256,200 b. Programming? = $134,200 c. In-house testing? = $225,700 EQUATION ( % x total project cost) It requires significant time to develop estimates.
Top-down estimates typically
are good for rough estimates
According to Snapshot from Practice 5.3, information technology projects that determine their time and cost estimates in the ________ stage can expect their 'actuals' to err up to 200 percent over cost and duration.
conceptual
According to Snapshot from Practice 5.4, the activity time can be extended beyond the 5- to 10-day rule only if ________.
control monitoring checkpoints for segments of the task can be established
Of the three types of costs, which type is most controllable by the project manager?
direct
Refer to Snapshot from Practice 5.2. The midpoint of responses from the Delphi method is statistically categorized by the ________ score.
median
According to Snapshot from Practice 5.4, a general rule of thumb when it comes to estimating is ________.
task duration should not exceed 5 workdays or at most 10 workdays
According to Snapshot from Practice 5.1, the dramatic changes on the cost estimates of Portland Aerial Trim are an example of the weakness of____
top-down estimate
According to Snapshot from Practice 5.1, why did the city try to cancel the tram project in 2006?
An audit revealed OHSU managers knew the project was not within their estimate but concealed it.
According to Snapshot from Practice 5.2, which of the following is not the advantage of the Delphi method?
Future developments are always predicted correctly by iterative consensus.
All of the following are ways the culture of an organization influences the quality of estimates EXCEPT:
How overhead is determined
Refer to Snapshot from Practice 5.4. Which of the following is an advantage of defining a task with clear definable start, end, and intermediate points?
ANSWER: All of these alternatives are advantages. It enhances the chances of early detection of problems It will be possible to take corrective action quickly. It increases the probability of on-time project completion. It is invaluable to the control process of measuring schedule and cost performance.
According to Snapshot from Practice 5.2, which of the following is the advantage of the Delphi method?
ANSWER: All of these alternatives are the advantages of the Delphi method. The experts never need to be brought together physically. The process does not require complete agreement by all panelists. The responses to estimate questionnaires are anonymous. The pitfalls of ego and domineering personalities in responses are avoided.
According to Snapshot from Practice 5.1, which is NOT true about Portland Aerial Tram project?
ANSWER: All of these are true. OHSU argued that the tram would help it expand its operations to the south waterfront. OHSU argued that the tram would reduce traffic congestion. OHSU championed the idea that the tram could be an icon of the city. The city ended up offered fair market value for the homes under the tram.
Mrs. Publinsky and her husband, Xander, are planning their dream house. The lot for the house sits high on a hill with a beautiful view of the White Mountains. The plans show the size of the house to be 2,600 square feet. The average price for a lot and house similar to this one has been $124 per square foot. Fortunately, Xander is a retired plumber and feels he can save money by installing the plumbing himself. Mrs. Publinsky feels she can take care of the interior decorating. The following average cost information is available from a local bank that makes loans to local contractors and dispenses progress payments to contractors when specific tasks are verified as complete. 24% Excavation and framing complete 7% Roof and fireplace complete 2% Wiring roughed in8% Plumbing roughed in 8% Siding on 21% Windows, insulation, walks, plaster, and garage complete 7% Furnace installed 2% Plumbing fixtures installed 8% Exterior paint, light fixtures installed, finish hardware installed 5% Carpet and trim installed 5% Interior decorating 3% Floors laid and finished Calculate the estimated cost for the Publinsky's house if they use contractors to complete all of the house. (Round the final answer to the nearest dollar.) Calculate the estimated cost for the Publinsky's house if they use their talents to do some of the work themselves (all plumbing and interior decoration).(Round the final answer to the nearest dollar.)
Estimated cost = $322,400 Estimated cost = $274,040
The Munsters have been saving money in order to buy a house. They figure that, given current interest rates, they could afford a $480,000 home. Before looking at houses on the market they decide to explore the possibility of building a new home. The Munsters figure they could buy a suitable lot for $110,000-$$115,000. At a minimum they want to build a 2,300-square-foot house. The cost for a house of the quality they desire is $192 per square foot. Given this information, should the Munsters pursue the option of building a new house?
Estimated lowest total cost of building = $551,600 EQUATION ((110,000) + (2,300 x 192) = 551,600 ) The Munsters should NOT CONSIDER building a new house under the current conditions.
All of the following are reasons accurate estimates are critical to effective project management EXCEPT
Estimates are used to determine project overhead
All of the following are reasons accurate estimates are critical to effective project management EXCEPT
Estimates are used to determine project salaries.
Omega 2 Project. Using the "complexity weighting" scheme and the function point complexity weighted table shown below, calculate the total function point count. Assume historical data suggest 6 function points equal one person-month and 6 people can work on the project. (Round answers to the nearest whole numbers.)
Total function point count = 1,215 Estimated project duration = 34 Estimated project duration = 25 People needed to complete the project = 34