Cost Management Question 4

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Your project will go through many phases to produce a high priced product that will be sold to the public. You are currently starting the design phase. The price will include the product and the schedule maintenance. The team includes representatives from the engineering department, who will help determine the design of the project. The marketing department, who will determine the shape of the container for the product of the project and the accounting department who will help make sure the cost of the project allows ample profit margin. The project charter has been completed and signed by sponsors from all these departments. The product scope was completed in an earlier project that was 2 months delayed due to arguing over the scope. The team is now functioning well and past team building efforts have produced an effective team for this new project. Which of the following is the BEST thing to include that has not been included in planning?

a) The team working on a project does not include anyone from the senior management and will thus not have enough support to be completed quickly and effectively.
b) There needs to be a representative from the quality department to ensure that the project will satisfy the needs for which it is undertaken.
c) The project is not taking into account how the project work will affect future phases and thus future phases may cost more.
d) Team building efforts should still be done in the future to ensure an effective team.

[admin]

The correct answer is C.

This question has many “right” answers. Choice A cannot be best because the team does not need to include anyone from senior management. Having a quality representative (choice B) could be a good idea, but you do not know if there is a quality department in this company. It is possible that the project manager or some other team member could have responsibility for quality, depending on the needs of the project. It is always a good idea to do team building (choice D) but of all the choices is this one best? No. Without doing choice C, the project could be severely impacted, where it would probably be only slightly impacted because of a lack of team building (remember that they have already done some and the team is working well together). Choice C is something a lot of people forget. The project must take into account what will happen after the project is completed. This means that the cost of maintaining the product must be considered as part of the project. The impact of not doing this is the greatest, and is thus the best choice.

Revise Cost Management Concepts: Project Cost Management

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