Project risks can/cannot be eliminated if the project is carefully planned. Explain. [5 marks] The chances of risk events occurring and their respective costs increasing change over the project life cycle. What is the significance of this phenomenon to a project manager? [5 marks] c. d. e. f. What is the difference between avoiding a risk and accepting a risk? [5 marks] What is the difference between mitigating a risk and contingency planning? [5 marks] Explain the difference between budget reserves and management reserves. [5 marks] How are the work breakdown structures and change control connected?
During the design stage, your engineering team informs you that the final design will require a somewhat higher grade component that sells for $72 with quantity discounts. The new price is substantially higher than you had budgeted for. This will create a cost overrun. 2 ASSIGNMENT – EMPM5103 You meet with your manufacturing team to see if they can manufacture the component at a cheaper price than buying it from outside. Your manufacturing team informs you that they can produce a maximum of 10,000 units, just enough to fulfill your contract. The setup cost will be $100,000 and the raw material cost is $40 per component.
Since Telo has never manufactured this product before, manufacturing expects the following defects: % Defective % Probability of occurrence 0 10 20 10 30 20 25 30 15 40 All defective parts must be removed and repaired at a cost of $120 per part. Questions a. b. Using expected value, is it economically better to make or buy the component? Strategically thinking, why might management opt for other than the most economical choice? [20 marks] TELO ENGINEERING (B) Your manufacturing team informs you that they have found a way to increase the size of the manufacturing run from 10,000 to 18,000 units, in increments of.
The Term Paper on General Motors with Lean Manufacturing
Part 3. GM’s Global Manufacturing System6 3. 1 Application of Lean Manufacturing6 3. 2 In-Progress Control and Verification7 3. 3 Process Failure and Effect Analysis11 3. 4 Quality Feedback/Feedforward11 3. 5 Quality System Management13 Part 4. Comments14 4. 1 Achievements beyond Efficiency14 4. 2 A Too-Lean GM? 15 Bibliography16 Part 1. Overview of General Motors 1. 1 Why General Motors? First ...
Use double space and 12-point of Times New Roman font. The assignment should contain about 3000 – 5000 words (15 – 20 pages) Provide reference using the American Psychological Association (APA) format References should be latest (year 2005 onwards) Notes: • • Assignments should be submitted according to the due date. You are to submit a softcopy of your assignment online through myVLE and a hardcopy to your facilitator. • Plagiarism is not acceptable. If you are not sure what is meant by plagiarism, refer to the various websites which discuss this matter, e. g. owl. english. purdue. edu/handouts.
