How to Solve Chapter 8 Problems in Project Management: The Managerial Process 5th Edition
Project management is a complex and dynamic field that requires a combination of skills, knowledge, tools, and techniques to plan, execute, monitor, and control projects. One of the most popular textbooks on project management is Project Management: The Managerial Process 5th Edition by Larson and Gray. This book covers the essential concepts and practices of project management, such as project selection, scope definition, scheduling, risk management, quality management, communication management, and project closure.
Project Management: The Managerial Process 5th Edition Chapter 8 Solutions PDF
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Chapter 8 of this book focuses on scheduling resources and costs. It explains how to estimate the resources and costs required for each activity in a project, how to allocate resources and costs to the project schedule, how to use resource leveling and smoothing techniques to optimize the schedule, and how to monitor and control resource and cost performance. The chapter also includes several exercises and case studies that test the students understanding and application of the concepts.
In this article, we will provide some tips and hints on how to solve some of the problems in Chapter 8 of Project Management: The Managerial Process 5th Edition. We will also provide some sample solutions for reference. However, we encourage you to try to solve the problems on your own first before looking at the solutions.
Problem 8.1
This problem asks you to estimate the labor hours required for each activity in a software development project using three-point estimates. The three-point estimates are based on optimistic (O), most likely (M), and pessimistic (P) scenarios. The formula for calculating the expected value (E) of the labor hours is E = (O + 4M + P) / 6.
To solve this problem, you need to apply the formula for each activity and fill in the table. Here is a possible solution:
ActivityOMPE
A40506551.67
B85100130102.5
C15202520
D608010080
E40557055
F20253525.83
G456080
H
I
J
K
L
M
N
O
P
Total
Problem 8.2
This problem asks you to estimate the direct costs for each activity in a software development project using three-point estimates. The three-point estimates are based on optimistic (O), most likely (M), and pessimistic (P 04f6b60f66