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Answer: Project Schedule Figure 1: Gantt chart (Source: Created by Ms Project) Work Breakdown Structure Figure 2: Work Breakdown Structure (Source: Created by author) Cost Estimating Worksheet Cost Management Plan Rules for Performance Measurement: The performance of the cost is controlled by means of a cost controlling method known as Earned value management (EVM). This method allows the project manager...Read More
Answer: Introduction Artificial intelligence refers to the imitation of intelligence of humans in machines those are programmed to think like humans and imitate the actions of the humans. The utilisation of artificial intelligence in project management is on the rise and it will help the managers of the project to take decisions those are smart and effectively administer the constraints of the project. The artificial intelligence in project m...Read More
Answer: Weekly Portfolio Learning Table Topic and reading samples. Your personal learning outcomes from this unit. Learnings from your experience. Week 1 Success of a project is directly proportional to the contribution made by the heads of the project Kerzner (2013) explained the success of a project can be measured through the actions undertaken by three group members including customer’s organ...Read More
Answer: Introduction PRINCE2 is a process based project management methodology that is used to implement a project in a controlled environment. In PRINCE2, the project is divided into a number of controllable units so that monitoring and project governance is done in a proper way. Since In PRINCE2, project is implemented in a controlled environment; it provides a greater control of the resources and the ability to manage the project risk more...Read More
Answer: Tangible and Intangible Costs A tangible cost is mainly described as a cost that is quantifiable that is related with an identified asset or source. Tangible costs are therefore used to represent the expenses that might arise as a result of purchasing the materials or renting an equipment for a project. The intangible cost on the other hand can be described as an unquantifiable cost that is related to an identifiable sources (Cañ...Read More
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