Project cost peaks in the middle of the project as maximum resources are utilized during this phase. When is the cost highest in the project life cycle?
Once the car moves to production, it becomes an ongoing operation for the company. All the activities before launch of the vehicle are part of a project, which is a temporary activity with a well-defined unique output. This is a typical scenario where project intersects with operation during product life cycle. Operation, as this activity didn't create a unique product - Correct Option: B Project, as it has clear scope and requirements in terms of safety compliance, fuel efficiency, etc.ĭ.
Project, as this car was conceptualized, designed, and has now been launchedĬ. Operation, as the company is into car manufacturing, which is an ongoing processī. This car was recently launched and has now moved into full-fledged production. Quality identification happens during planning.Ī car manufacturing company conceptualized a new car that will be more fuel efficient, ergonomically designed, and that satisfies the latest safety regulations. Key deliverables help in meeting the project goals. Option (d), which involves creating a schedule network diagram to display project schedule activities and logical relationship between them, is part of the Sequence Activities process.ĭuring the initiating stage, which of the following elements will be identified to meet the project goals?Įven though the identification of stakeholders and potential sellers happens as part of initiating phase through the "identify stakeholders" process, this will not help to meet the project goals. The project team is in the process of Estimating Activity Resources, and the activities provided as options (b) and (c) are done as part of this process. Identify and show network dependency in the project activities - Correct Option: D Study the organization policies and procedures regarding staffingĭ. Go through the past data and lessons learned from previous projectsĬ. Estimate the type and quantity of resource required to perform each activityī. ich of the following activities will NOT be done by the team during this process?Ī. PMP Certification Latest Fall 2022 Exam Bank_ answers correct & explained.Ī project team is in the process of estimating the types and quantities of resources required to perform each activity.
This paper is valuable in establishing a rational methodology for applying economic analysis to weapon system acquisition projects.PMP Certification Latest Fall 2022 Exam Bank_ answers correct & explained. In this paper, we first perform real option valuation of finished weapon systems in the Korean defense field. In addition, the real option analysis data acquired from similar finished projects can be useful for establishing a new product acquisition strategy and, at every decision-making phase, the real option evaluation should be continuously performed with updated information. Third, the effectiveness of the real options valuation was confirmed for sustainable defense management. Second, we need to analyze the project value continuously and revise the acquisition strategy accordingly. First, we reaffirmed the importance of objective value analysis in project decision making. From the case study of the development of the powerpack, we learned the following three lessons. We could see that the real options could have reduced the risk of losses when the development risk is high and market uncertainty exists. We analyzed the Korea K2 tank powerpack development case by applying real options. (4) Analyze and compare results with benefit and benefit cost ratio. (3) Model the decision tree without options and with options. (2) Calculate the benefits of the three acquisition alternatives with expected and actual data without uncertainties. (1) Define the uncertainties of the three acquisition alternatives (development, technology adoption, and purchase). Unlike previous studies, the real option valuation methodology is applied retroactively to the finished project, compared to existing research mainly applying real options to value research and development (R&D) without knowing how the project completed. In this paper, we apply the real options valuation to the weapon systems development case and confirm its usefulness. The real options valuation has shown effectiveness across various industries to evaluate investment strategies. In particular, the use of the real options valuation, which is one of the methodologies of economic analysis, is expanding. Economic analysis is used to examine the costs, benefits and uncertainties of alternatives. For sustainable defense management, it is essential to acquire weapons systems that can adapt to future uncertain threats and, at the same time, to invest efficiently with limited budgets.
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