Project management - Answering the case study Question Essay

Project management - Answering the case study Question - Essay Example The cost of each Windows 2000 workstation is $3000, where as that of Windows 2000 server is $12,000. The term labor cost refers to the cost that the employers incur in hiring incremental unit if labor. The labor cost is used for various purposes like judging the various cost levels of different labor classes (Triplett, 1983, p.4). It has been assumed that each one puts in 40 hrs per week, as per the problem. The rest of the data has been collected from the exhibit 7 & 8 of the case study. Number of hours was calculated by dividing the no. of days with 7(since there are 7 days in a week) and multiplying with 40. The critical path method is one of the several management techniques during a project planning. A project generally is made up of a number of individual activities. These activities can be divided into further activities while handling a complex web of activities. The CP model helps us to determine that how long a complex project might take for its successful completion. It also helps to identify the activities that are ‘critical’, which implies that the tasks that are important to be finished on time otherwise the project can be delayed. The tool also helps to determine whether one needs to speed up the project and for doing so which a cost effective way. This can be achieved by feeding in the data of cost of each activity and the cost of speeding up the activity in the critical path method. (Samuel L. Baker, para 1-3). According to Hiemstra (2000), the critical path analysis is logical sequence of the series of activities of a project in such a way that the most efficient route is determined. The tool helps in time management and helps the managers with sufficient information to take decisions regarding the project plan (para. 2). Planning is an important component of every project. Risk factors are always associated with project sing technology. These risks can be classified as schedule overruns, change in the technology and its