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Chapter 8 Answers Project Management The Managerial Process 5th Edition 58 [PATCHED]


Chapter 8 Answers Project Management: The Managerial Process 5th Edition 58




If you are taking a course on project management, you might be using the textbook Project Management: The Managerial Process 5th Edition by Erik Larson and Clifford Gray. This textbook covers the essential concepts and techniques of project management, such as project selection, planning, scheduling, budgeting, risk management, quality control, communication, and closure.




chapter 8 answers project management the managerial process 5th edition 58



One of the most challenging parts of studying project management is solving the end-of-chapter questions and problems. These questions and problems test your understanding and application of the concepts and techniques covered in each chapter. They also help you prepare for exams and assignments.


In this article, we will provide you with the answers and explanations for chapter 8 of Project Management: The Managerial Process 5th Edition. Chapter 8 is titled "Scheduling Resources and Costs". It covers the topics of resource allocation, resource leveling, resource-constrained scheduling, cost estimation, cost budgeting, and cost control.


We will provide you with the answers and explanations for the following questions and problems from chapter 8:


  • Question 1: What are the advantages and disadvantages of resource leveling?



  • Question 2: What are the differences between resource-constrained scheduling and time-constrained scheduling?



  • Question 3: What are the main types of cost estimation methods?



  • Question 4: What are the steps involved in cost budgeting?



  • Question 5: What are the tools and techniques for cost control?



  • Problem 1: Given the following network diagram and resource availability table, perform resource leveling and determine the new project duration.



  • Problem 2: Given the following network diagram and resource availability table, perform resource-constrained scheduling and determine the new project duration.



  • Problem 3: Given the following project scope statement and work breakdown structure (WBS), estimate the costs of each activity using analogous estimation, parametric estimation, and bottom-up estimation.



  • Problem 4: Given the following project scope statement and work breakdown structure (WBS), create a cost baseline using Microsoft Project.



  • Problem 5: Given the following project scope statement, work breakdown structure (WBS), cost baseline, and actual costs, calculate the earned value (EV), actual cost (AC), planned value (PV), cost variance (CV), schedule variance (SV), cost performance index (CPI), schedule performance index (SPI), estimate at completion (EAC), estimate to complete (ETC), and variance at completion (VAC).



By reading this article, you will be able to solve these questions and problems with ease. You will also be able to improve your knowledge and skills in project management. So let's get started!


Question 1: What are the advantages and disadvantages of resource leveling?




Resource leveling is a technique of project scheduling that aims to minimize the fluctuations in resource demand and usage throughout the project. Resource leveling involves adjusting the start and finish dates of activities to balance the resource requirements with the available supply.