Learning Goal: I’m working on a management question and need the explanation and answer to help me learn.
Q1 )Explain using your own words the following sentence: Project managers play a key role in helping projects and organizations succeed.
Q2)Explain why it is much more expensive to make major changes to a project during later phases of the project life cycle.
Q3)Perform a financial analysis for a project using the format table provided in Module 4. Assume the projected costs and benefits for this project are spread over four years as follows: Estimated costs are $150,000 in Year 1 and $35,000 each year in Years 2, 3, and 4. Estimated benefits are $0 in Year 1 and $85,000 each year in Years 2, 3, and 4. Use a 12 percent discount rate, and round the discount factors to two decimal places. Create a table to calculate and clearly display the NPV, ROI, and year in which payback occurs. In addition, write a paragraph explaining whether you would recommend investing in this project, based on your financial analysis.
Q4)Project monitoring and controlling is done throughout the life of a project and involves all 10 project management knowledge areas.
(a) Why monitoring and controlling is important?
(b) Discuss at least two ways to monitor and control a project.
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