Devry PROJ 592 Week 8 Final Exam
- Latest
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Devry PROJ 592 Week 8 Final Exam - Latest
Question 1. | Question : | (TCO B) Estimating Procedures
(a) You are the project manager for a new high-rise office building.
You are working on estimating the exterior landscaping for the new
development. The landscaping requires the use of a special
landscape stone. Based on recent experience, the most likely price
for the material is $120.00/ton. However, the price for this stone
is volatile, and the price fluctuates over time based on market
conditions and material availability. The most optimistic price
estimate is $100.00/ton, and the most pessimistic estimate is
$200.00/ton.What is the expected price of the material?
(b) In addition to price fluctuations, you are also uncertain of how
much of the material will be required for the project. Scope changes
and site conditions will affect the amount of material actually
needed. The most likely amount required is 36 tons. However, as
little as 32 tons or as much as 44 tons might be required.What is the
expected amount of the material needed for the project? Round to
two decimal places.
(c) Using the estimates from (a) & (b) what is the expected cost
for the material over the life of the project using the COMPLEX
method?
|
|
|
, ITEM | COST
ESTIMATE | TYPE OF ESTIMATE |
Case | $15.00 | Order of Magnitude |
Handset | $12.00 | Definitive |
Labor | $2.00 | Definitive |
Speaker | $2.50 | Budget |
Mouthpiece | $5.50 | Budget |
Antenna | $1.70 | Definitive |
Keypad | $3.00 | Order of Magnitude |
Circuit boards (handset) | $6.50 | Budget |
Circuit boards (base unit) | $8.50 | Definitive |
Battery | $1.20 | Order of Magnitude |
Charger | $16.00 | Order of Magnitude |
Total cost | $73.90 | NA |
The estimating department currently defines estimate accuracy as
follows:
Order of Magnitude | -25%, +75% |
Budget | -10%, +25% |
Definitive | -5%, +10% |
(a) What contingency cost budget do you recommend for the
product?
(b) The target retail price for the new telephone is $165.00 per
unit. The markup demanded by retailers is 50%. Based on cost
factors, write a brief rationale for acceptance or rejection of the
project, including any recommendations you have regarding the
cost estimates. |
|
- Latest
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Devry PROJ 592 Week 8 Final Exam - Latest
Question 1. | Question : | (TCO B) Estimating Procedures
(a) You are the project manager for a new high-rise office building.
You are working on estimating the exterior landscaping for the new
development. The landscaping requires the use of a special
landscape stone. Based on recent experience, the most likely price
for the material is $120.00/ton. However, the price for this stone
is volatile, and the price fluctuates over time based on market
conditions and material availability. The most optimistic price
estimate is $100.00/ton, and the most pessimistic estimate is
$200.00/ton.What is the expected price of the material?
(b) In addition to price fluctuations, you are also uncertain of how
much of the material will be required for the project. Scope changes
and site conditions will affect the amount of material actually
needed. The most likely amount required is 36 tons. However, as
little as 32 tons or as much as 44 tons might be required.What is the
expected amount of the material needed for the project? Round to
two decimal places.
(c) Using the estimates from (a) & (b) what is the expected cost
for the material over the life of the project using the COMPLEX
method?
|
|
|
, ITEM | COST
ESTIMATE | TYPE OF ESTIMATE |
Case | $15.00 | Order of Magnitude |
Handset | $12.00 | Definitive |
Labor | $2.00 | Definitive |
Speaker | $2.50 | Budget |
Mouthpiece | $5.50 | Budget |
Antenna | $1.70 | Definitive |
Keypad | $3.00 | Order of Magnitude |
Circuit boards (handset) | $6.50 | Budget |
Circuit boards (base unit) | $8.50 | Definitive |
Battery | $1.20 | Order of Magnitude |
Charger | $16.00 | Order of Magnitude |
Total cost | $73.90 | NA |
The estimating department currently defines estimate accuracy as
follows:
Order of Magnitude | -25%, +75% |
Budget | -10%, +25% |
Definitive | -5%, +10% |
(a) What contingency cost budget do you recommend for the
product?
(b) The target retail price for the new telephone is $165.00 per
unit. The markup demanded by retailers is 50%. Based on cost
factors, write a brief rationale for acceptance or rejection of the
project, including any recommendations you have regarding the
cost estimates. |
|
