Reflection and Discussion Forum Week 8(chapter 8)
Reflection and Discussion Forum Week 8Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
- Consider the trends described in the chapter (e.g., aging, heightening environmental concern, or China). How will each affect the business you are in (or were in before coming to b-school)?
- Make a list of 3 of your favorite brands. What would be a great brand-, or line-extension that you would like to see developed as a new product?
This activity/assignment will help students understand the product life cycle concept better and also give them an insight into the importance of marketing decisions that are to be taken during the market decline phase.Activity: Find four different products that are in the four different phases of the product life cycle. Give your opinions on the product in the market decline phase: whether the company should divest, harvest, or rejuvenate the product and the reasons behind your choices.
Your team has been asked to test and document enhancements to a web application that allows buyers to purchase custom-printed canvas shoes. The tasks and dependencies are as follows:
Once the testing plan is ready, your team can:
- Test the user interfaces
- Test the database
- Test the network
- Write the documentation first draft
When the user interface tests are complete, you can:
- Perform user testing—enlist some users to test the user interface
When the database and network testing are complete, you can:
- Perform integration testing—network with the database
When the user testing of the user interface and the database testing are complete, you can:
- Perform integration testing—database, network, and user interface
When all integration testing and user testing are complete, you can:
Then you can:
- Review and revise documentation
After all other tasks are complete, you can:
- Obtain management approval
Duration estimates for the tasks: a. 3 days b. 10 days c. 6 days d. 7 days e. 20 days f. 5 days g. 3 days h. 2 days i. 8 days j. 4 daysk. 5 days
- Create a network diagram and a Gantt chart for the project tasks. Ask your instructor if you are permitted to use software such as Microsoft Project to help you prepare your diagrams.
- What is the planned duration for the testing project?
- What is the critical path for the testing project?
- For each task NOT on the critical path, calculate the amount of slack available.
- If the user testing of the user interface takes 15 days, what will the impact be on the project duration?
- Question 2Wedding cost estimation: Given the following information, calculate the estimated costs for a wedding with 250 guests and a bridal party of six, using the methods indicated. Show your work.
Note that members of the bridal party are already counted as guests, you don’t need to add them twice.
- Parametric estimate
- Bottom-up estimate
- Analogous cost estimate
- You will probably notice some differences in the estimated values. Are these differences significant? What might cause the differences? If you were estimating a significant project in the future, which method(s) would you use and why?
Wedding Cost EstimatesItemDollarsGroom’s brother’s wedding, last year, 175 guests, similar venue and style$20,300Catering$65 per personPhotographer$1,500Rental of hall$500Clothing, bride$2,000Clothing, groom$750Flowers$800Other décor items$500Cake$500Gifts for bridal party$80 eachWedding planner$2,000Wedding planner’s estimate of typical cost for this kind of wedding$10,000 plus $75 per guest
Question 3Cost reimbursable contract calculation.
- A contract calls for a total payment of $800,000 with a guarantee. Essentially the contractor is guaranteed to make at least $200,000 above his costs. If the contractor can demonstrate his costs exceed $600,000, the project will pay the difference, with a $50,000 ceiling on the overage. The contractor demonstrates he spent $623,000. How much (gross) must the project remit to the contractor?
- Another option for the same contract has the contractor guaranteed to be paid his costs plus 20%, for costs that exceed $600,000. With the same initial assumption—guarantee of $800,000 gross payment (no requirement to itemize costs), but if the contractor can show that costs exceed $600,000, the project will pay $800,000 plus the costs that exceed $600,000, plus 20% of those excess costs, with a ceiling of $900,000 gross. The contractor demonstrates he spent $623,000. How much (gross) must the project remit to the contractor?
- Under option 3.2, at what dollar amount of total costs would the contractor be assuming all of the excess costs beyond that point?
- In which option did the project assume more of the risk of a cost overrun? Explain.
Practical Connection Assignment(plnning project)
Practical Connection Assignment with strong educational programs and courses that allow them to be servant-leaders in their disciplines and communities, linking research with practice and knowledge with ethical decision-making. This assignment is a written assignment where students will demonstrate how this course research has connected and put into practice within their own career.Assignment:
Provide a reflection of at least 500 words (or 2 pages double spaced) of how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment. If you are not currently working, share times when you have or could observe these theories and knowledge could be applied to an employment opportunity in your field of study. Requirements:
- Provide a 500 word (or 2 pages double spaced) minimum reflection.