You are working on a new project to develop a new wireless product with ease - of - use features recommended by customers. It is as yet undetermined which features and the extent to which each feature will be incorporated into the product.You have a focus group that will continue to evaluate the features as the project goes forward.The focus group is authorized to suggest changes, as are your engineers and the quality department.As a project manager, what will help you most to minimize the effect of these changes?

A Good CFO will tell you that it is important to look at your bottom line and determine how to increase profits for the organization. Veronica, the new CFO at a local university, is taking that approach and applying it to new projects. Therefore,she wants to include costs from each phase of the project on a total expenditure is known as 

You are a project manager for the redevelopment of the Hoover Dam. Your team has been provided with the scope statement, but it lacks many description details. Your team is concerned because the project is in the initiation phase and it wants to postpone it until it has more information. As the project manager, you recommend that

Subject matters experts (SMEs) are resources that are imperative to the succes of a project. Many times, project managers are not experts in the areas they are managing and frequently must rely upon other's expertise. In which scope - management process are SMEs first used?

Sometimes project managers forget all of the expenses that they can incur on a project, such as capital resources and assets. This can have an impact upon their budgets and the economic return on the project. A cost that has been incurred and cannot be reversed is known as a 

The payback period can become an important issue when a large scope project is developed over several years. Maureen has been assigned the responsibility of calculating the payback period for her project that is to be completede in 3 years. The internal rate of return(IRR) is 7% and the annual savings will be $800,000 per year. The total cost is $4,000,000 and the rate of return during this time period is 3%. What is the payback period of Maureen's project?

You have started your own company based upon PMI methodologies and have been contracted by the government to develope a new interface for one of its computer applications. You develope a solution and win the bid for the contract but encounter problems at the end of the project when the customer says that you did not fullfill their needs. You are throughly shocked. What is your conclusion of the situation?

The software development life cycle begins with a proof of concept and progress into the build, test, and acceptance phases as the project develops. Some times, differences between stakeholders can develop into conflict, which impacts the customer. As a trained, professional project manager, how do you handle this situation and resolve the customer's concerns?