Analyze Trade-offs within the Project Environment in Order to Control Total Costs of a Project
Up to this point in your project you have been able to plan with minimal limitations. The trade-off analysis will afford you the opportunity to trade-off time for cost, cost for performance, etc. The trade-off analysis is your opportunity to reflect and conceptualize on how or what factors you feel can be traded off in order to complete the project on-time with desired performance at or below cost. Some examples include the cost of material at higher level of quality versus cost (best cost for dollars), skill levels of labor and number of skilled labor needed for the project.
1. Review the resources listed in the Books and Resources area below to prepare for this week’s assignment(s).
2. Complete the following Spotlight on Skills if you need assistance with the tools used to complete your assignments.
Spotlight on Skills: How to prepare an engaging lecture
For this week, and without a doubt in your career, you will need to present effective and engaging lectures. To find out how to polish your lecture skills, look over: Winn, J. Effective and Engaging Lectures.
Winn, J. Effective and engaging lectures. College of Allied Health, Oklahoma City & Tulsa.http://www.ouhsc.edu/egr/documents/EffectiveandEngagingLectures.pps
Spotlight on Skills: Developing PowerPoint Presentations
For help creating PowerPoint presentations, review this PowerPoint Tutorial.
Books & Resources:Book
Kerzner, H. 2009 Project management: A systems approach to planning, scheduling, and controlling.
Instruction:Read Chapter 16 (16.0-16.4).
Document/Other
Films Media Group. (1995). Risk-Return Tradeoff.http://proxy1.ncu.edu/login?url=http://digital.films.com/PortalPlaylists.aspx?aid=6281&xtid=5845&loid=20200
Instruction:Watch Video.
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| Instructions:
As the project manager, you have been tasked to assemble a presentation that will apply knowledge acquired in prior assignments to explain how trade-offs can be made between various project requirements to promote cost control of the project’s total cost. This presentation is for your team assigned to this project, as they have been asking questions related to trade-offs to control costs. You will be deducing how estimating, pricing, cost controls and time value of money can be measured and weighed to perform a trade-off analysis. Develop a presentation that will analyze the concept of trade-off in the project environment. You will have to design from research or experience the example and then build the presentation around the example. Your analysis might include topics such as methodology for trade-off analysis, contracts, and industry preferences. Create a PowerPoint slide set or MS MovieMaker project creating a presentation. Think about who your target audience is and how your topic affects them. The required length of the PowerPoint Presentation option for this assignment is 12-15 slides (with a separate reference slide). Your presentation MUST include notes containing 100-150 words per slide (this is your script). Be sure to include citations for quotations and paraphrases with references in APA format and style. Save the file as a PPT file with the correct course code information in the name. The required length of the Video option for this assignment is 7-10 minutes. The video file must be saved in a .wmv format and be less than 8 MB is size. If you do not have video software or are unable to create a video please choose the PowerPoint option. |
