Question on Rajesh Nair's notes

Submitted by lalitha15 on Thu, 07/21/2011 - 13:32

 


The ImpPoints -3 sheet in Rajesh Nair's notes has some options like choiceA) choice B) and it looks like an explanation for picking up the answers.Where are the questions for these answers.

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ammayath1

Fri, 07/22/2011 - 07:35

I have checked the Notes, in the "ImpPoints -3" sheet, cannot see  options choiceA) choice B) etc. From the excel sheet, can you please specify the row id & column id where these options are appearing.


Regards
Rajesh


 

lalitha15

Fri, 07/22/2011 - 20:05








Another example - the below appears in cell B399


 


Due to the lack of detailed scope, you should not select a fixed price contract (choice A). Because the buyer wants to be in full control, the time and material contract (choice B) is the best option.


Another example In imppoints -3 the below appears in cell B393








Here we are tying together the concepts of standard deviation and contracts. Using the concept of standard deviation, we find that the cost of this project will vary, at one standard deviation, from $1.8M to $2.2M. Since this is not insignificant, there would appear to be some ambiguity with the project definition. As we are not totally sure of the scope, we would not pick a fixed price option (choice A or C). Of the two CR options, you need to select the better of the two. Cost plus percentage of costs (choice D) is probably the worst type of contract to use, as there is no incentive for the seller to control costs. This leaves only choice B, a cost plus fixed fee contract. 


 


 


 

lalitha15

Fri, 07/22/2011 - 20:05








Another example - the below appears in cell B399


 


Due to the lack of detailed scope, you should not select a fixed price contract (choice A). Because the buyer wants to be in full control, the time and material contract (choice B) is the best option.


Another example In imppoints -3 the below appears in cell B393








Here we are tying together the concepts of standard deviation and contracts. Using the concept of standard deviation, we find that the cost of this project will vary, at one standard deviation, from $1.8M to $2.2M. Since this is not insignificant, there would appear to be some ambiguity with the project definition. As we are not totally sure of the scope, we would not pick a fixed price option (choice A or C). Of the two CR options, you need to select the better of the two. Cost plus percentage of costs (choice D) is probably the worst type of contract to use, as there is no incentive for the seller to control costs. This leaves only choice B, a cost plus fixed fee contract. 


 


 


 

nbk

Sat, 07/23/2011 - 13:53

I see some of these are similar to PM fastrack software, You could try checking that

pranaysharma191...

Mon, 07/25/2011 - 13:42

The notes in ImpPoints 2, 3 & 4 are mostly answers to some questions. It will be more useful if the questions are


also given. There are several such examples :


 


Cell B90 in IMp2 :








Directing (choice A) occurs while the project management plan is being created. During project executing, the project manager should be focused on integrating the work of others into a cohesive whole. This is more important than just coordinating (choice C) or leading (choice D).


 


Cell B127 :








A work authorization system (choice A) helps tell the team when work should begin on work packages. A change control system (choice B) helps track, approve or reject, and control changes. A project management information system (PMIS - choice D) helps the project manager know how the project is going. Only a configuration management system (choice C) addresses controlling documents.


 


Please reply fast .