vu epm5610 project planning and control what are the key elements of a due diligence report

Questions:
1.
Assume that you are employed by VU Pty Ltd as a project manager to advice on a new $500 million hospital development project in Sydney. At present the project is an inception stage. During this stage every project does require preparing a Due Diligence (DD) and followed by preparing the Project Management Plan (PMP). These are the formal documents required before commencement of this major project.
a)What is the purpose of preparing the Due Diligence report?
b)What are the key elements of a Due Diligence report?
c)What does the Project Management Plan (PMP) define?
d)How does the project manager help their team throughout the project?
2.
Briefly explain the key fundamental theory used when developing PERT analysis. State two types of Engineering Projects that you would recommend CPM/PERT method for evaluation the project
A Manager of an Engineering Research Laboratory has done a Project Schedule to execute their new project. The list of activities, their predecessors, and the durations in days are given in the following Table. Please use the probability tables.

ID
Predecessor
Duration (Time/Days)
Optimistic (a)
Most Likely (m)
Pessimistic (b)
A
None
8
10
18
B
None
5
6
13
C
B
13
15
17
D
A,C
10
12
14
E
D
10
20
30
F
E
2
5
8
G
E
2
3
10
H
G
4
7
10
I
H,F
3
6
15

(i)Construct a Network diagram and determine the expected completion time for the research project, identify the critical activities and the critical path
(ii)What would be your estimated time of completion of this project if it has a probability of 95%?
3.
What is a WBS? If a Project Manager is to develop a WBS, what are the guidelines to be considered ?
What are the conventions of Drawing Network Logic Diagram? By the use of clear diagram/s briefly plain SS and FS lags
A project has 15 activities and the relationships between the activities are shown in Tablebelow:
Table

Activity
Depends on completion of these activities
Duration
L
START
4
M
START
3
N
L
3
O
L
4
P
M
2
Q
M
4
R
N
7
S
M and O
2
T
M and O
4
U
T
5
V
T
5
W
Q
10
X
P
5
Y
P, R, S,U and V
5
Z
W and X
8

i).Draw the PDM network.
ii).Calculate the earliest and latest event times.
iii).Calculate the total float times of each activity.
iv).Define the critical path. Obtain the overall project time.
4.
a)What is a Project? Why projects are different from business?
b)List six (6) important Project Challenges in todays environment.
c)List the stages involved in the Project Planning Process
d)Todays project managers are facing number of challenges during the planning stage of a project. List these challenges that you think it is very vital for the successful delivery of the project
5.
Define the term ‘Project Management Plan’ (PMP) in relation to your major project assignment. List the key elements of this PMP.
List the steps you have followed in developing the PMP for the major project assignment. Give example of items in each step.
What is time planning? List the key factors you need to consider during the time planning stage of a project.
6.
What is cost planning? List and briefly discuss the main stages involved in the cost planning process.
List the steps involved in developing a cost plan for a project.
7.
State a key difference between CPM and PERT analysis. State two types of Projects that you would recommend CPM/PERT method for evaluation the project.The Board of Directors of HAYCARB PLC, has decided to introduce a new variety of silver impregnated activated carbon for one of their customers in the United States.
The Manager in-charge on research and development of this product has done a schedule to achieve this task on time. The list of activities, their predecessors, and the durations in days are given in the following Table.
Activity
Predecessors
Optimistic time
Most likely time
Pessimistic time
A Collect information/data
———
1
4
7
B Setup experimental rig
———
2
6
10
C Testing the experimental rig
B
3
3
9
D Make the Experimental Plan
A
6
13
14
E Run the experiment and obtain results
A, C
4
6
14
F Analysis of results
B
6
8
16
G Formulate the R&D report
D, E, F
2
5
8

(a)Construct an Activity on Node (AON)/PDM Network diagram.
(b)Determine the earliest expected completion time for the process and the critical path.
(c)Based on the critical path, what would be your estimated time of completion of this task if you have over 95% confident and if you have only less than 40% confident?
(d)What is the Probability of completing this task within 23 to 28 days?
Please use the probability tables.

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