Question

You're planning a two-week excursion with your significant other (and or your best friend). Your destination locations are as follows: Istanbul, Cairo, and Maldives. Your budget for the entire trip (for both of you - 2 people) is $11,000 in total. Use what you've learned in the course thus far to decide on a destination. Answer the following question:

1. How would you go about making a decision using project management methodology?

2. Looking first at cost, what decision would you make?

3. After cost, what other factors should be considered before making a decision?

You will outline your estimate with all associated cost for each location. Keep in mind this is an estimate (detailed estimate). You will decide your destination after capturing all costs for each location.

Answer 1

1.

Principles and practices set that guide an individual to organise the projects ensuring optimum performance is called as project management methodology. It helps to manage projects in an efficient way. By correctly mapping the project management methodology, project management will be effective.

 

2.

The cost and budget of the project is an important factor to be considered. While considering the factor, cost, the sort of budget on which we are working on is between the scale of $ to $$$ is to be determined. Also, whether it is stayed within the predetermined limit is to be determined.

 

3.

While making the decisions the other factors that impact the project management methodology are:

• Size of the team. How many members are included in the team.
• Collaboration of the client or stakeholder.
• Flexibility of the process adopted.

• The time allotted to carry out the deliver.

1.

Principles and practices set that guide an individual to organise the projects ensuring optimum performance is called as project management methodology