Ashford 2: – Week 1 – Discussion 1

The entire content of this course is to understand and be aware of costs and value in a project. Express one particular cost issue that you have seen as a project manager or team member that affected the project either positively or negatively. Clearly identify what was done to rectify the issue and describe the impact to the project. Respond to at least two of your classmates’ postings.

Ashford 2: – Week 1 – Discussion 2

A fundamental topic for the success of a project is the management of scope. The original scope of a project has cost assumptions to ensure project success. Provide a specific example from your experience or from examples in the text where a change in scope can impact the project financials. If you were the sponsor of this project, would you approve the change in scope knowing what you do now? Respond to at least two of your classmates’ postings.

Assignment

Work Breakdown Structure

See page 33 of the text for a graphic example of a work breakdown structure (WBS) hierarchy. Create a three level product-based WBS from a project you have managed or have experience with as a team member and present a graphic representation of your WBS hierarchy. A description of the following components and how each relates to the WBS must be included:

• Three main deliverables,
• A unique numbering scheme, and
• Three work packages.

Lastly, provide a one- to three-sentence project objective to describe the focus of this WBS.

The assignment must be submitted in Microsoft Excel for ease of organization; APA formatting rules will not need to be followed if an Excel spreadsheet is used.

Ashford 3: – Week 2 – Discussion 1

The text provides five specific areas or reasons that cost estimation seems to occur. Describe a project that you have been involved with where at least one of these factors occurred. How would you improve the cost estimation method with the knowledge you have gained in the reading this week? Respond to at least two of your classmates’ postings.

Ashford 3: – Week 2 – Discussion 2

The ability to plan an effective budget is critical to the understanding of planned and actual costs in a project. The only way to understand both schedule performance and the accuracy of the budget is to create a baseline. Use your text reading and the ProQuest article by Marcia Jedd to describe the linkage of a time phased approach to budgeting and the importance of a baseline for the project. How does this baseline enable measurement of project health? Respond to at least two of your classmates’ postings.

Ashford 4: – Week 3 – Discussion 1

Describe the linkages of the work breakdown structure and the time-phased budget to arrive at an earned value analysis. What is the impact on earned value if the cost estimation is significantly lower because of low estimates or specification changes in the project? Provide examples of projects you have been involved with or read about that may have had this problem. Respond to at least two of your classmates’ postings.

Ashford 4: – Week 3 – Problems

Earned Value Problems

Of the three problems below, choose and solve one problem. Show your work. Along with your answer, define each term and explain the significance (meaning) of the solution.

1. During a project, Earned Value Analysis is performed and gives the following numbers:
EV: 523,000; PV: 623,000; AC: 643,000.

Which results are correct?

A. CV: +120,000; SV: +100,000
B. CV: +100,000; SV: +120,000
C. CV: -100,000; SV: -120,000
D. CV: -120,000; SV: -100,000

2. You found the following Earned Value Analysis information for a recently closed out project:

SPI = 0.7, CPI = 1.0

A. The project has been cancelled while it was executed. At that time the project was behind schedule and on budget.
B. The project’s deliverables have all been finished. The project came in ahead of schedule but on budget.
C. The project’s deliverables have all been finished. The project came in on schedule but over budget.

3. You are assigned as the project manager to a project which had a one-time cost variance in the past caused by unexpected rework which has meanwhile
been finished.

You perform Earned Value Analysis and find the following results:

EV: 250,000; PV: 200,000; AC 275,000

BAC is 500,000.

What is right?

A. EAC = 550,000
B. EAC = 525,000
C. EAC = 500,000
D. EAC = 425,000

Ashford 4: – Week 3 – Assignment

Article Review

Review the following two ProQuest articles on the benefits of earned value management (EVM) practices and myths. In a two- to three-page paper (not including the title and reference pages), compare and contrast the similarities and differences of the project success stories and myths in both articles. Make sure to present clear examples from both articles to describe the real-world benefits of EVM. Conclude with a discussion of a project you have been involved with that could have improved with a detailed project cost control described in these articles.

Article number one:
Visitacion, M. (2007, October). Exemplary EVM at Lawrence Livermore Labs. Contract Management, 47(10), 75-77. Retrieved from ProQuest Database.

Article Number two:
Visitacion, M. (2007, September). Debunking commonly held EVM myths. Contract Management, 47(9), 51-52. Retrieved from ProQuest Database.

Your paper should be formatted according to APA style as outlined in the approved APA style guide and should cite at least the two above mentioned articles in addition to the textbook.

Ashford 5: – Week 4 – Discussion 1

Read the Forbes article, “Why Value Propositions Are Important (And How to Create Them).” Based on the content presented in the article, describe a project that you have been involved with, or read about in a business article, that had a clear value proposition for the strategic goals of the organization. What specific items provided the value to the organization, and how was it measured? Comment on additional value that you think could have been added if the project changed specific project elements (like scope, performance, and resource usage or risk management.) Respond to at least two of your classmates’ posts.

Ashford 5: – Week 4 – Discussion 2

The text describes the key attributes of Value management as management style, positive human dynamics, and consideration of external and internal environment. Provide an example of each of these attributes of VM for a successful project you have been involved with. Which of these attributes do you feel provided the most return in value and why? Respond to at least two of your classmates’ postings.

Ashford 6: – Week 5 – Discussion 1

Choose any four ‘causes’ of change within a project in table 9.1 in the text. Provide a project example and scenario, and describe the impact of each change. Was there a level of change control in the project examples that tracked ownership, documentation and approval of these changes? Respond to at least two of your classmates’ postings.

Ashford 6: – Week 5 – Discussion 2

The identification of all changes to a project is only the first step for ensuring a control system is in place. Describe the detailed steps you would implement for your project to ensure an entire change control process is in place. Consider the following topics in your answer: documentation, analysis, approval and implementation. Why is the baseline configuration important to this topic? Respond to at least two of your classmates’ postings.

Ashford 6: – Week 5 – Research Paper

Research Paper

The Research Paper must demonstrate the understanding of new learning in project management and how it relates to cost and value management. This assignment should be six to eight pages (not including the title and reference pages) and should integrate the reading, multimedia, and class discussions. It is mandatory to have research from the classroom text, as well as at least three scholarly sources from the Internet or Ashford Online Library to support your views.

Consider the validity of your sources carefully before using them in academic papers. It is recommended to use examples from your professional experience where possible or build from your learning in the discussion boards.

Focus of the Research Paper

Use at least one project you have been a team member of or a project manager for as an example to contextualize the research topics below:
All of the following topics must be addressed in order for the paper to be complete:

• Discuss the importance of work packages to support the creation and use of the WBS.
• Examine how to establish a cost and schedule performance measurement baseline.
• Present examples of EVM and how it will help the PM understand project status.
• Examine how the PM uses project control charts to show project status and present value.
• Recommend an effective change management process to ensure a successful project.

Writing the Research Paper
The Research Paper:

• Must be six to eight double-spaced pages in length (not including the title and reference pages) and formatted according to APA style as outlined in the approved APA style guide.
• Must include a cover page that includes:
  – Title of Paper
  – Student’s name
  – Course name and number
  – Instructor’s name
  – Date submitted
• Must include an introductory paragraph with a succinct thesis statement.
• Must address the topic of the paper with critical thought.
• Must conclude with a restatement of the thesis and a conclusion paragraph.
• Must use at least three outside sources from the Internet or Ashford Online Library.
• Must use APA style as outlined in the approved APA style guide to document all sources.
• Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.

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