I will pay 50.00 for the following essay, required reading attached. Unit VII Essay Use the projects you completed in Units III and VI to conduct a preliminary risk analysis. Use a qualitative and a q

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I will pay 50.00 for the following essay, required reading attached.

Unit VII Essay

Use the projects you completed in Units III and VI to conduct a preliminary risk analysis. Use a qualitative and a quantitative technique to evaluate project risk. The total assignment is worth 100 points. Please submit as one document.

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See the sample risk analysis on pages 253–254 in the textbook. Your essay should include the following components:

  1. Generate a set of likely risk factors, and discuss them in terms of probability and consequences.

  2. Use a qualitative technique to evaluate project risk.

  3. Use a quantitative technique to evaluate project risk.

  4. Develop preliminary strategies for risk mitigation.

  5. Create a resource-leveling table for your project. For more information on resource leveling, refer to pages 407–416 in the textbook.

Your essay should be at least three pages in length, not counting the title and reference pages. All sources used, including the textbook, must be referenced. Paraphrased and quoted material must have accompanying citations. Your document must be formatted and references cited following APA guidelines.

I will pay 50.00 for the following essay, required reading attached. Unit VII Essay Use the projects you completed in Units III and VI to conduct a preliminary risk analysis. Use a qualitative and a q
Running head: UNIT III PROJECT 0 Unit III Project Your Name Columbia Southern University Part 1 – Case Study 3.1: Keflavik Paper Company Question No. 1 The other screening methods discussed in the chapter are projects’ evaluation in terms of the company’s strategic goals, analysis of current skills sets of the project managers, and learning of the importance of project prioritization. However excessive as well as exclusive reliance on these screening methods can also lead to many potential dangers that are not in the interests of the project goals. For example, if an organization only relies on the screening method involving project’s evaluation in terms of strategic goals of the organization, other factors can arise like the selection of inappropriate project managers or the selection of such projects that are not feasible for the organization’s business interests (Silvius & Tharp, 2013). Similarly, the exclusive reliance on the screening methods of project prioritization can give rise to other dangers like the selection of such projects that are not in accordance with the strategic goals of an organization. Therefore it can be deduced that exclusive reliance on only one method of project screening can endanger the overall development and progress of the project. It is recommended that more than one project screening methods should be deployed so that the project selected can be feasible from all the perspectives. Question No. 2 The key criteria that should be used in the evaluation of all new projects before their addition to the current portfolio are the evaluation of new projects in terms of the firm’s strategic goals, analysis of new projects in context of the available technical resources, evaluation of new projects according to their budgets and time frames, the feasibility analysis of projects, and the analysis of project scope in terms of the associated benefits. These criteria aid a lot in selecting the best project that is most feasible and appropriate for a company’s organizational as well as business interests. The analysis of the projects in the context of available technical resources makes the completion of the project much easier as if such projects have opted that are not in accordance to the available technical base can give rise to the need of hiring external entities which in turn increases the project cost. Similarly, the analysis of projects in terms of associated benefits helps in predicting the outcomes of the project in terms of advantages and other positive impacts. These advantages are weighed according to the positive impacts of the projects on the organization’s business, society, and environment. All of the above-mentioned criteria should be applied for evaluation of new projects so that the project lifecycles go in a smooth way. Question No. 3 There are some effects of poor project screening methods on a firm’s ability to effectively manage these projects that are demonstrated in the case study. The first effect of poor screening methods is the rise of a group of such projects that are completely unrelated as a result of which such projects fail to fit in the terms of firm’s technical resources. These projects are also not in accordance with the organization’s business interests as they may not conform to the available technical resource of the organization or its organizational interest. The second effect is the rise of the requirement of new technical expertise and training which can arise due to the incapability of project members and their teams in delivering efficiently for the project lifecycle that is both costly and time-consuming. The third effect is on the learning of the project managers who are made to relearn new processes in order to move to such projects that are subjected to poor screening methods. An overall effect of poor project screening is the failure of achieving strategic as well as organizational goals by the business firm as unfeasible projects are much difficult to handle and complete successfully. Part 2 – Case Study 3.2: Project Selection at Nova Western, Inc. Question No. 1 There is a divergence of opinion in both the techniques of the scoring model and NPV analysis as the former is an objective technique in which the project managers list relevant criteria and weigh them according to their importance for the goals of a project whereas the latter is a financial technique that utilizes project costs and returns over time in order to determine if the project can make a positive return. This divergence of opinion, therefore, occurs in both techniques as one involves weighted scores and other involves financial statistics. Both the techniques of scoring model and NPV analysis have associated pros and cons. The pros of the scoring model include risk assessment and selection of an optimal process whereas those of NPV analysis include the ability to determine the returns associated with a project (Cameron, Sankaran & Scales, 2015). The cons of scoring model are that it largely outperforms the clinical intuition associated with a project which results in the divergence from the projects scope as well as goals whereas those of NPV analysis is that it is much sensitive to the discount rates which hinders the effective accomplishment of the associated projects because this sensitivity causes rapid fluctuation in the costs associated with different phases of the project. Question No. 2 The Nova Western should select the project Janus as the technique of financial screening favored the higher projected value of NPV as compared to the other project Gemini and involves less financial risks. The reason behind the selection of this project is that it has more profitability index as compared to the other project Gemini which makes the former more desirable as compared to the latter. Moreover, the Janus project requires much less initial investments as compared to Gemini and has more lifespan which can keep the project managers engaged for a longer period of time. This long-term engagement is more profitable for the firm besides presenting the managers and other involved teams with an extended exposure that can result in the enhancement of their skill sets and expertise. The less initial investment of the project Janus as compared to Gemini also makes it more cost efficient and reduces the associated financial risks in the project. The Janus also involves low future cash flows that are easy for transactions thus involving fewer security risks. The above-mentioned factors make the project Janus more appropriate for selection by the Nova Western as compared to the other project Gemini. Question No.3 This case suggests that project selection methods in organizations largely contribute to the selection of such projects that are in their best interests and can add sufficient skill and revenues in their various business operations. The case also suggests that by efficiently adopting different selection methods for the projects, the organizations can prioritize different projects according to certain criteria like profitability, feasibility, involved risks, and usability etc. The selection methods also enable the organizations to reject such projects that are not in accordance with the organizational interests and have more disadvantages associated with them as compared to the advantages. The contradiction found in this example can be resolved by selecting such selection methods that are in accordance with the needs and scope of different projects. By applying such selection methods that are feasible for respective projects, the chances of contradictions can be reduced to a much great extent. Moreover, the projects should be compared using a related set of methods as opposing to this case in which one selection method is of the scoring model and other is of NPV analysis (Berkovitch & Israel, 2003). The former method is based on the sum of different weighted scores whereas the latter is based on financial statistics which gives rise to such contradicting results. Part 3 Marketing Plan for a New Product Statement of Work: This project is aimed at the marketing of a new product launched by a famous clothing brand. Background: The new product is a water-proof jacket that the clothing company wants to advertise on different marketing platforms like television, radio, and social media. Objectives: The objectives of this project are to efficiently advertise the new product of the clothing brand in order to reach a wider customer population for increasing the business revenues. Scope: The advertising and marketing contracts will be made with different renowned T.V channels and radio stations. Moreover, the marketing team also wants to do marketing of social media that is very popular these days like Facebook, Twitter, and Instagram. Requirements: The very first requirement of this marketing project is to make such advertisements that can efficiently present the customers with the benefits and quality of the product. For this reason contracts with different advertising agencies will be made. Moreover, the posters and other printing mechanisms will also be utilized for excellent marketing on the social media websites. Selection Criteria: The selection of the marketing platforms will be made in accordance with the popularity of television channels for which an analysis will be done in order to discover such channels that are having a larger number of active audiences. The selection criteria for social media platforms will also be based on similar characteristics like a huge number of users and popularity across the globe. Project Deliverables: The deliverables of the project include extensive requirements elicitation phase, basic plan upon which the marketing procedures will be based, choosing marketing strategy, effective advertisements, contracts with marketing agencies, social media websites, sponsorships with other brands, and above all energetic marketing teams that will be responsible for marketing at individual levels (Turner, 2000). Security: The activities of marketing will also involve the only transaction to different marketing entities, therefore, the company must take into consideration appropriate security measures in order to prevent frauds. Place of Performance: The project will be carried out at the contractor’s site as it does not involve any government-related activity. Period of Performance: The overall project of marketing will complete in a time span of one month that is enough time for creating product consciousness and awareness among people through effective as well as effective marketing. Part 4 Work Breakdown Structure for the Project Key Steps of WBS (Hillson, 2003). Creation of Personnel Table: The personnel table involves all the team members that are associated with the project. They are listed along with their departments and designations in the table. Creation of Deliverables Table: The deliverables table includes the deliverables of the whole project along with different subtasks that are associated with them. These subtasks are also assigned respective codes that are used in the responsibility assignment matrix. Major Tasks Requirements Elicitation: The requirements related to the marketing of the product by the clothing brand are gathered and analyzed in this initial phase of the project. The unnecessary requirements are discarded from the very beginning in order to make the project feasible in all respects. Only those requirements are left for working which is completely related to the marketing of a waterproof jacket. Planning: This phase includes that tasks that are related to the planning of the whole marketing project. This majorly includes the planning of the project’s scope, budget, and time. The other plans like which marketing platforms to utilize, contracts making etc. are also made in this phase. Choosing Marketing Strategy: This phase involves the selection of a marketing strategy that will be used for marketing the new product of clothing brand. Vendor Selection: This phase includes the selection of different vendors who are in this case various advertising agencies and social media like Facebook, Twitter, and Instagram. Contracts with Marketing Platforms: After the selection of vendors in the form of marketing platforms, contracts are made with them in accordance with all the business as well as legal requirements of both the brand and the marketing platforms. The contracts in this case of marketing for the waterproof jacket will last for a time period of one month. Devising Marketing Teams: This is the last phase of the marketing project in which the teams are designed for different marketing activities. The roles are assigned to different members of the teams according to their experience and skills. Subtasks Subtasks for the task of Requirements Elicitation: The subtasks for the phase of requirements Elicitation are requirements gathering and requirements analysis. Subtasks for the task of Planning: The subtasks for the phase of planning are strategic planning along with budget and time planning. Subtasks for the task of Choosing Marketing Strategy: The subtasks for the phase of choosing marketing strategy are an exploration of different marketing strategies and selection of most feasible marketing strategy. Subtasks for the task of Vendor Selection: The subtasks for the phase of vendor selection is an analysis of different vendors and selection of most appropriate vendor which in this case of marketing waterproof jacket will be different marketing platforms. Subtasks for the task of Contracts with Marketing Platforms: The subtasks for the phase of making contracts with marketing entities will be negotiations and contract finalization. Subtasks for the task of Devising Marketing Teams: The subtasks for the phase of devising marketing teams will be an analysis of different team members and assigning of roles according to their skills and expertise. Personnel Table Name Department Designation Randy Marketing Head of Department Felix Marketing Deputy Head of Department Peter Marketing Marketing Manager Smith Marketing Marketing Assistant Deliverables Table Deliverables Tasks (Subtasks) Subtask Codes Task Codes Deliverable 1 Requirements Elicitation   1   Requirements gathering   0010   Requirements analysis   0011 Deliverable 2 Planning   2   Planning of scope of the project   0020   Planning of time and budget   0021 Deliverable 3 Choosing Marketing Strategy   3   Exploring different marketing strategies   0030   Selecting most feasible marketing strategy   0031 Deliverable 4 Vendor Selection   4   Analysis of different vendors   0040   Selection of suitable vendor   0041 Deliverable 5 Contracts with Marketing Platforms   5   Negotiations   0050   Contract finalization   0051 Deliverable 6 Devising Marketing Teams   6   Analyzing different team members   0060   Assigning roles and responsibilities   0061 Part 5 – Responsibility Matrix Responsibility Matrix The responsibility assignment matrix for this project is created in this part which describes the participation of various roles in completing the tasks and deliverables for any business project (Yang & Chen, 2009). Fictional Group Members: There are four fictional group members assumed for this marketing project. These members include Peter, Randy, Smith, and Felix. Randy and Felix are in the upper-level management of the marketing department of the clothing brand. The other two members Peter and Smith are in the lower level management hence more responsibility and duties are assigned to them. Whereas Randy and Felix are largely responsible for administering and monitoring the whole marketing project as they are present in the upper-level management. Responsibility Assignment Matrix Members: Peter, Randy, Smith, and Felix.   Peter Randy Smith Felix Del 001 O *   @ Del 002 @ O   [] Del 003 []   @ * Del 004   @ [] * Del 005 [] @ O   Del 006 O []   @ Responsible O Support * Notification [] Approval @ References Silvius, G., & Tharp, J. (2013). Sustainability integration for effective project management. Hershey, Pa.: IGI Global. Berkovitch, E., & Israel, R. (2003). Why the NPV Criterion does not Maximize NPV. Review Of Financial Studies, 17(1), 239-255. doi: 10.1093/rfs/hhg023 Cameron, R., Sankaran, S., & Scales, J. (2015). Mixed Methods Use in Project Management Research. Project Management Journal, 46(2), 90-104. doi: 10.1002/pmj.21484 Hillson, D. (2003). Using a Risk Breakdown Structure in project management. Journal Of Facilities Management, 2(1), 85-97. doi: 10.1108/14725960410808131 Turner, J. (2000). Do you manage work, deliverables or resources?. International Journal Of Project Management, 18(2), 83-84. doi: 10.1016/s0263-7863(99)00059-9 Yang, T., & Chen, C. (2009). An incentive pay system for project management based on responsibility assignment matrix and fuzzy linguistic variables. Expert Systems With Applications, 36(10), 12585-12591. doi: 10.1016/j.eswa.2009.05.067
I will pay 50.00 for the following essay, required reading attached. Unit VII Essay Use the projects you completed in Units III and VI to conduct a preliminary risk analysis. Use a qualitative and a q
Running head: UNIT VI PROJECT 0 Unit VI Project Your Name Columbia Southern University Part 1 The Project Schedule Activity Precedence Diagram (T.I. Liu, 1996) Earliest Start Time Duration Earliest Finish Time   1 week 2 months 7 weeks Development of a Software for Online Store Latest Start Time Float Latest Finish Time 10 days 0 weeks 9 weeks Activity Duration Table Duration Activity Optimistic Likely Pessimistic Est. Duration A 2 2 4 2 B 3 6 6 1 C 5 5 7 2 D 4 4 7 2 E 2 6 8 1 Network Diagram Gantt chart Part 2 Please complete Case Study 10.1: Project Scheduling at Blanque Check Construction on page 360 of the textbook, and answer the three questions at the end. Project Network (Blackburn, 2002). Steps Activity Activity Description Step 1 Vendor selection The vendor are selected in this very first phase Step 2 Contract signing Contracts with the selected vendors are made Step 3 Requirement gathering Requirements gathering is done in this activity Step 4 Requirement analysis Gathered requirements are analyzed Step 5 Planning scope Scope of the project is planned Step 6 Planning budget Budget available for the project is defined here Step 7 Planning time Time required to complete the project is planned Step 8 Design Design of the product is worked upon Step 9 Implementation Design is implemented Step 10 Development Development of the product starts Step 11 Prototype testing Prototype of the product is made for testing Step 12 Engineering Engineering related to the product is carried here as in this case it is civil engineering for the construction of properties Step 13 Subcontract signing Subcontracts to different local contractors are made in order to divide the work load Step 14 Quality testing The quality of the product is tested in this activity Step 15 Environmental Testing The buildings made are tested in accordance with the suitability to natural environment Step 16 Addressing shortcomings Discovered shortcomings are removed Step 17 Final Testing Final testing of the product is carried in this activity prior to the release Step 18 Release The tested product is delivered to the client Step 19 Maintenance The maintenance work of the product is performed in accordance with the time constraints defined in the contract Step 20 Project termination The project is closed officially Question No. 2 Expert Opinion for Calculation of Duration Estimation for the Project Activities This approach can be used by contacting different estate experts that have the idea of that particular market in which the construction will take place. The opinion of such people can matter a lot in the project and such experts should also be made to give opinions that are well aware to the construction projects in that site. Past History for Calculation of Duration Estimation for the Project Activities The past history can also provide sufficient data regarding the duration estimates for the project activities as it can efficiently predict the duration of future activities on the basis of the pattern found in past projects (Saunders, 1990). Mathematical Calculation for Calculation of Duration Estimation for the Project Activities The mathematical calculations are also an effective tool for the duration estimates. The time limits can be utilized in the mathematical equations to predict the duration of various activities accurately. Question No. 3 Joe should consider following issues before choosing between the methods of AON and AOA: The feasibility of construction projects in that particular area Analysis of available resources like time and money Analysis of past projects Estimating available workforce Demands and needs of the client Part 3 Network Activity Chart (Andronov, 2013) The expected duration of the project is 7 weeks. Part 4 Project Activity Network Critical Path and other Paths through the Network (ARSHAM, 1999) The critical path through the network is C–G–H that has the longest resulting value of 14. The other paths like B-D-F and D-F-H can be identified as subcritical with the values of 12 for both. References Andronov, A., & Rebezova, M. (2013). Polynomial approximation of the activity completion time distribution in network chart. Automatic Control And Computer Sciences, 47(4), 192-201. doi: 10.3103/s0146411613040020 Arsham, H. (1999). Stability analysis of the critical path in project activity networks. Civil Engineering And Environmental Systems, 15(4), 305-334. doi: 10.1080/02630259908970245 Blackburn, S. (2002). The project manager and the project-network. International Journal Of Project Management, 20(3), 199-204. doi: 10.1016/s0263-7863(01)00069-2 G Saunders, R. (1990). Project management in R&D: the art of estimating development project activities. International Journal Of Project Management, 8(1), 45-50. doi: 10.1016/0263-7863(90)90008-y Liu, T., & Yuan, G. (1996). PDES—An expert system for constructing the precedence diagram. Journal Of The Franklin Institute, 333(6), 975-990. doi: 10.1016/0016-0032(96)00037-3


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