Business finance - management week assignment | Management homework help

Business Finance - Management Week assignment mloi01Please see attached.

• 2 years ago
• 25

Assignment:

Week 1:

Work breakdown structures (WBS) provide a framework on which costs, time, and schedule/performance can be compared against the budget for each level of the WBS. It’s important to understand that a WBS is commonly used to measure business value and reducing waste (Kerzner, 2022). There are several ways to create a WBS, depending on the components of your project. For example, your WBS can be outline structure, hierarchical, tabular, Gantt chart, or tree diagram. It may depend on the timeline, amount of repetitive units, or amount of project elements. Select one of the following projects and complete a WBS for it, in the structure of your choice. · An everyday or frequent personal task (getting ready for work, exercise routine, etc.) · Planning an overseas vacation (flight, hotel, transportation, directions/guides, etc.) · Buying a new (or new to you) car Upload an image or link to your WBS to your post. Within your post, support your structure decision and explain why you broke the project down like you did.

Answer:

Week 2:

A large part of project planning is scheduling, but not just a timeline. It also includes estimating the approximation of cost on a project, determining the schedule approach, policies, procedures, and the roles and responsibilities. According to the PMI: Scheduling Professional Exam Outline, scheduling is divided into five domains: · Schedule Strategy · Schedule Planning and Development · Schedule Monitoring and Controlling · Schedule Closeout · Stakeholder Communications Management Review the Exam Outline and select a domain. Choose a task from that domain and explain why that task is important to the overall project planning. What tools or resources could assist with this task?

Answer:

Week 3:

Measuring project progression is often done through Key Performance Indicators (KPIs) because the items measured are often the tasks that are completed. Kerzner (2022) says that in an earned-value measurement system, KPIs are essential because they focus on future outcomes and provide more accurate information on what can happen if existing trends continue. Kerzner continues explaining the differences between metrics and KPIs, of which there are five types (section 15.5):