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Test Bank for Project Management Achieving Competitive Advantage 5th Edition by Jeffrey K. Pinto

Test Bank for Project Management Achieving Competitive Advantage 5th Edition by Jeffrey K. Pinto

For project management courses.

Project management fundamentals with broad applications

In its 5th EditionProject Management: Achieving Competitive Advantage takes a contemporary, decisive, and business-oriented approach to teaching and learning project management. To promote a comprehensive, multi-industry understanding of the text, the author addresses project management theory within the context of a variety of successful organizations, whether they be publicly held, private, or nonprofit. Comprehensive case analysis and detailed exercises, including brand-new, contemporary case studies for the 5th Edition, give readers the tools to assess projects in real-time, while also leveraging the latest project management technology, including MS Project 2016.

Table of Contents

Project Management Achieving Competitive Advantage

BRIEF CONTENTS

CONTENTS

PREFACE

NEW TO THIS EDITION

SOLVING TEACHING AND LEARNING CHALLENGES

DEVELOPING EMPLOYABILITY SKILLS

INSTRUCTOR TEACHING RESOURCES

FEEDBACK

List of Cases by Chapter

1 Introduction Why Project Management?

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER

The Need for Projects

What is a Project?

GENERAL PROJECT CHARACTERISTICS

Why are Projects Important?

Project Life Cycles

Determinants of Project Success

Developing Project Management Maturity

Employability Skills

COMMUNICATION

CRITICAL THINKING

COLLABORATION

KNOWLEDGE APPLICATION AND ANALYSIS

BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

INFORMATION TECHNOLOGY APPLICATION AND COMPUTING SKILLS

DATA LITERACY

Project Elements and Text Organization

Summary

Key Terms

Discussion Questions

Questions

Questions

Questions

Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

Notes

2 The Organizational Context Strategy, Structure, and Culture

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER

Implementing Strategy Through Projects

Projects and Organizational Strategy

Stakeholder Management

IDENTIFYING PROJECT STAKEHOLDERS

CLIENTS

COMPETITORS

SUPPLIERS

INTERVENOR GROUPS

TOP MANAGEMENT

ACCOUNTING

FUNCTIONAL MANAGERS

PROJECT TEAM MEMBERS

MANAGING STAKEHOLDERS

ASSESS THE ENVIRONMENT

IDENTIFY THE GOALS OF THE PRINCIPAL ACTORS

ASSESS YOUR OWN CAPABILITIES

DEFINE THE PROBLEM

DEVELOP SOLUTIONS

TEST AND REFINE THE SOLUTIONS

Organizational Structure

FORMS OF ORGANIZATIONAL STRUCTURE

FUNCTIONAL ORGANIZATIONS

PROJECT ORGANIZATIONS

MATRIX ORGANIZATIONS

MOVING TO HEAVYWEIGHT PROJECT ORGANIZATIONS

Project Management Offices

Organizational Culture

HOW DO CULTURES FORM?

TECHNOLOGY

ENVIRONMENT

GEOGRAPHICAL LOCATION

REWARD SYSTEMS

RULES AND PROCEDURES

KEY ORGANIZATIONAL MEMBERS

CRITICAL INCIDENTS

ORGANIZATIONAL CULTURE AND PROJECT MANAGEMENT

Summary

Key Terms

Discussion Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

INTEGRATED PROJECT

Building Your Project Plan

EXERCISE 1—DEVELOPING THE PROJECT NARRATIVE AND GOALS

SAMPLE BACKGROUND ANALYSIS AND PROJECT NARRATIVE FOR ABCUPS, INC.

CURRENT PROCESS

OVERVIEW OF THE PROJECT

Objectives

General Approach

Constraints

Notes

3 Project Selection and ­Portfolio Management

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction: Project Selection

Approaches to Project Screening and Selection

METHOD ONE: CHECKLIST MODEL

SOLUTION

METHOD TWO: SIMPLIFIED SCORING MODELS

SOLUTION

LIMITATIONS OF SCORING MODELS

METHOD THREE: THE ANALYTICAL HIERARCHY PROCESS

STRUCTURING THE HIERARCHY OF CRITERIA

ALLOCATING WEIGHTS TO CRITERIA

ASSIGNING NUMERICAL VALUES TO EVALUATION DIMENSIONS

EVALUATING PROJECT PROPOSALS

METHOD FOUR: PROFILE MODELS

SOLUTION

Financial Models

PAYBACK PERIOD

SOLUTION

NET PRESENT VALUE

SOLUTION

DISCOUNTED PAYBACK

INTERNAL RATE OF RETURN

SOLUTION

CHOOSING A PROJECT SELECTION APPROACH

Project Portfolio Management

OBJECTIVES AND INITIATIVES

DECISION MAKING

PRIORITIZATION

REVIEW

REALIGNMENT

REPRIORITIZATION

THE PORTFOLIO SELECTION PROCESS

PREPROCESS PHASE

PROCESS PHASE

POST-PROCESS PHASE

DEVELOPING A PROACTIVE PORTFOLIO

KEYS TO SUCCESSFUL PROJECT PORTFOLIO MANAGEMENT

FLEXIBLE STRUCTURE AND FREEDOM OF COMMUNICATION

LOW-COST ENVIRONMENTAL SCANNING

TIME-PACED TRANSITION

PROBLEMS IN IMPLEMENTING PORTFOLIO MANAGEMENT

CONSERVATIVE TECHNICAL COMMUNITIES

OUT-OF-SYNC PROJECTS AND PORTFOLIOS

UNPROMISING PROJECTS

SCARCE RESOURCES

Summary

Key Terms

Solved Problems

3.1 NET PRESENT VALUE

SOLUTION

3.2 DISCOUNTED PAYBACK

SOLUTION

3.3 INTERNAL RATE OF RETURN

SOLUTION

Discussion Questions

Problems

Questions

Questions

Internet Exercises

Notes

4 Leadership and the Project Manager

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction: Successful Projects Need Leaders

Leaders Versus Managers

How the Project Manager Leads

ACQUIRING PROJECT RESOURCES

MOTIVATING AND BUILDING TEAMS

HAVING A VISION AND FIGHTING FIRES

COMMUNICATING

Traits of Effective Project Leaders

CONCLUSIONS ABOUT PROJECT LEADERS

Project Champions

CHAMPIONS—WHO ARE THEY?

CREATIVE ORIGINATOR

ENTREPRENEUR

“Godfather” OR SPONSOR

PROJECT MANAGER

WHAT DO CHAMPIONS DO?

HOW TO MAKE A CHAMPION

IDENTIFY AND ENCOURAGE THE EMERGENCE OF CHAMPIONS

ENCOURAGE AND REWARD RISK TAKERS

REMEMBER THAT CHAMPIONS ARE CONNECTED EMOTIONALLY TO THEIR PROJECTS

DON’T TIE CHAMPIONS TOO TIGHTLY TO TRADITIONAL PROJECT MANAGEMENT DUTIES

The New Project Leadership

Project Management Professionalism

Project Management and Ethics

UNETHICAL BEHAVIORS IN PROJECT MANAGEMENT

Summary

Key Terms

Discussion Questions

Questions

Questions

How widespread are VW’s problems?

Postscript

Questions

Analysis of the Problem

Possible Courses of Action

Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

Notes

5 Scope Management

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER

Introduction: The Importance of Scope Management

Conceptual Development

THE STATEMENT OF WORK

THE PROJECT CHARTER

The Scope Statement

THE WORK BREAKDOWN STRUCTURE

PURPOSES OF THE WORK BREAKDOWN STRUCTURE

THE ORGANIZATION BREAKDOWN STRUCTURE

THE RESPONSIBILITY ASSIGNMENT MATRIX

Work Authorization

Scope Reporting

Control Systems

CONFIGURATION MANAGEMENT

Project Closeout

Project Management and Sustainability

MANAGING PROJECTS FOR SUSTAINABILITY

Summary

Key Terms

Discussion Questions

Problems

Questions

Questions

Questions

Wrong Weapon for the Wrong War?

Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

MS Project Exercises

Project Outline—Remodeling an Appliance

APPENDIX 5.1

Sample Project Charter

PROJECT CHARTER

INTEGRATED PROJECT

Developing the Work Breakdown Structure

SAMPLE WORK BREAKDOWN STRUCTURE—ABCUPS, INC.

WORK BREAKDOWN STRUCTURE—ABCUPS’ PROCESS MODIFICATION

Notes

6 Project Team Building, ­Conflict, and Negotiation

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

Building the Project Team

IDENTIFY NECESSARY SKILL SETS

IDENTIFY PEOPLE WHO HAVE THE REQUIRED SKILLS

TALK TO POTENTIAL TEAM MEMBERS AND NEGOTIATE WITH FUNCTIONAL HEADS

BUILD IN FALLBACK POSITIONS

TRY TO NEGOTIATE FOR PARTIAL ASSISTANCE

ADJUST PROJECT SCHEDULES AND PRIORITIES ACCORDINGLY

NOTIFY TOP MANAGEMENT OF THE CONSEQUENCES

ASSEMBLE THE TEAM

Characteristics of Effective Project Teams

A CLEAR SENSE OF MISSION

A PRODUCTIVE INTERDEPENDENCY

COHESIVENESS

TRUST

ENTHUSIASM

RESULTS ORIENTATION

Reasons Why Teams Fail

POORLY DEVELOPED OR UNCLEAR GOALS

UNCLEAR GOALS PERMIT MULTIPLE INTERPRETATIONS

UNCLEAR GOALS IMPEDE THE WILLINGNESS OF TEAM MEMBERS TO WORK TOGETHER

UNCLEAR GOALS INCREASE CONFLICT

POORLY DEFINED PROJECT TEAM ROLES AND INTERDEPENDENCIES

LACK OF PROJECT TEAM MOTIVATION

THE PROJECT IS PERCEIVED AS UNNECESSARY

THE PROJECT MAY HAVE LOW PRIORITY

POOR COMMUNICATION

POOR LEADERSHIP

TURNOVER AMONG PROJECT TEAM MEMBERS

DYSFUNCTIONAL BEHAVIOR

Stages in Group Development

STAGE ONE: FORMING

STAGE TWO: STORMING

STAGE THREE: NORMING

STAGE FOUR: PERFORMING

STAGE FIVE: ADJOURNING

PUNCTUATED EQUILIBRIUM

Achieving Cross-Functional Cooperation

SUPERORDINATE GOALS

RULES AND PROCEDURES

PHYSICAL PROXIMITY

ACCESSIBILITY

OUTCOMES OF COOPERATION: TASK AND PSYCHOSOCIAL RESULTS

Virtual Project Teams

Conflict Management

WHAT IS CONFLICT?

SOURCES OF CONFLICT

ORGANIZATIONAL CAUSES OF CONFLICT

INTERPERSONAL CAUSES OF CONFLICT

METHODS FOR RESOLVING CONFLICT

MEDIATE THE CONFLICT

ARBITRATE THE CONFLICT

CONTROL THE CONFLICT

ACCEPT THE CONFLICT

ELIMINATE THE CONFLICT

Negotiation

QUESTIONS TO ASK PRIOR TO THE NEGOTIATION

PRINCIPLED NEGOTIATION

SEPARATE THE PEOPLE FROM THE PROBLEM

FOCUS ON INTERESTS, NOT POSITIONS

INVENT OPTIONS FOR MUTUAL GAIN

INSIST ON USING OBJECTIVE CRITERIA

Summary

Key Terms

Discussion Questions

Exercise in Negotiation

BCT’s Perspective

SFI’s Perspective

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

Notes

7 Risk Management

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER

Introduction: What is Project Risk?

Risk Management: A Four-Stage Process

RISK IDENTIFICATION

RISK BREAKDOWN STRUCTURES

ANALYSIS OF PROBABILITY AND CONSEQUENCES

RISK MITIGATION STRATEGIES

ACCEPT RISK

MINIMIZE RISK

SHARE RISK

TRANSFER RISK

USE OF CONTINGENCY RESERVES

TASK CONTINGENCY

MANAGERIAL CONTINGENCY

INSURANCE

WORKAROUNDS

OTHER MITIGATION STRATEGIES

CONTROL AND DOCUMENTATION

Project Risk Management: An Integrated Approach

Summary

Key Terms

Solved Problem

7.1 QUANTITATIVE RISK ASSESSMENT

Discussion Questions

Problems

The Development of the Comet

Troubles

What Went Wrong?

Questions

Questions

Tacoma Narrows Bridge: The Postmortem

Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

INTEGRATED PROJECT

Project Risk Assessment

SAMPLE RISK ANALYSIS—ABC u p s, INC.

QUALITATIVE RISK ASSESSMENT

QUANTITATIVE RISK ASSESSMENT

Notes

8 Cost Estimation and Budgeting

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Cost Management

DIRECT VERSUS INDIRECT COSTS

RECURRING VERSUS NONRECURRING COSTS

FIXED VERSUS VARIABLE COSTS

NORMAL VERSUS EXPEDITED COSTS

Cost Estimation

LEARNING CURVES IN COST ESTIMATION

SOFTWARE PROJECT ESTIMATION—FUNCTION POINTS

PROBLEMS WITH COST ESTIMATION

Creating a Project Budget

TOP-DOWN BUDGETING

BOTTOM-UP BUDGETING

ACTIVITY-BASED COSTING

Developing Budget Contingencies

Summary

Key Terms

Solved Problems

8.1 CALCULATING FULLY LOADED LABOR COSTS

SOLUTION

8.2 Estimating Software Costs with Function Points

SOLUTION

8.3 Calculating Budget Estimates Using the Learning Curve

SOLUTION

Discussion Questions

Problems

Questions

Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

INTEGRATED PROJECT

Developing the Cost Estimates and Budget

Notes

9 Project Scheduling Networks, Duration Estimation, and Critical Path

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

Project Scheduling

Key Scheduling Terminology

Developing A Network

LABELING NODES

SERIAL ACTIVITIES

Network logic suggests that:

CONCURRENT ACTIVITIES

MERGE ACTIVITIES

BURST ACTIVITIES

Duration Estimation

Constructing the Critical Path

CALCULATING THE NETWORK

THE FORWARD PASS

THE BACKWARD PASS

PROBABILITY OF PROJECT COMPLETION

LADDERING ACTIVITIES

HAMMOCK ACTIVITIES

OPTIONS FOR REDUCING THE CRITICAL PATH

Summary

Key Terms

Solved Problems

9.1 CREATING AN ACTIVITY NETWORK

SOLUTION

9.2 CALCULATING ACTIVITY DURATIONS AND VARIANCES

SOLUTION

9.3 DETERMINING CRITICAL PATH AND ­ACTIVITY SLACK

SOLUTION

Discussion Questions

Problems

Questions

Internet Exercises

MS Project Exercises

Exercise 9.27

Exercise 9.28

Exercise 9.29

PMP Certification Sample Questions

Answers

Notes

10 Project Scheduling Lagging, Crashing, and Activity Networks

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

Lags in Precedence Relationships

FINISH TO START

FINISH TO FINISH

START TO START

START TO FINISH

Gantt Charts

ADDING RESOURCES TO GANTT CHARTS

INCORPORATING LAGS IN GANTT CHARTS

Crashing Projects

OPTIONS FOR ACCELERATING PROJECTS

CRASHING THE PROJECT: BUDGET EFFECTS

Activity-On-Arrow Networks

HOW ARE THEY DIFFERENT?

DUMMY ACTIVITIES

FORWARD AND BACKWARD PASSES WITH AOA NETWORKS

AOA VERSUS AON

AON STRENGTHS AND WEAKNESSES

AOA STRENGTHS AND WEAKNESSES

Controversies in the Use of Networks

CONCLUSIONS

Summary

Key Terms

Solved Problems

10.1 CRASHING PROJECT ACTIVITIES

SOLUTION

10.2 COST OF CRASHING A PROJECT

SOLUTION

Discussion Questions

Problems

Questions

Questions

MS Project Exercises

Exercise 10.20

Exercise 10.21

Exercise 10.22

Exercise 10.23

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

INTEGRATED PROJECT

Developing the Project Schedule

Notes

11 Advanced Topics in Planning and Scheduling Agile and Critical Chain

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

Agile Project Management

WHAT IS UNIQUE ABOUT AGILE PM?

TASKS VERSUS STORIES

KEY TERMS IN AGILE PM5

STEPS IN AGILE6

SPRINT PLANNING

DAILY SCRUMS

THE DEVELOPMENT WORK

SPRINT REVIEWS

SPRINT RETROSPECTIVE

KEYS TO SUCCESS WITH AGILE

PROBLEMS WITH AGILE

Extreme Programming (XP)

Theory of Constraints and Critical Chain Project Scheduling

THEORY OF CONSTRAINTS

The Critical Chain Solution to Project Scheduling

Developing the Critical Chain Activity Network

CRITICAL CHAIN SOLUTIONS VERSUS CRITICAL PATH SOLUTIONS

Critical Chain Solutions to Resource Conflicts

Critical Chain Project Portfolio Management

Critiques of Ccpm

Summary

Key Terms

Solved Problem

Discussion Questions

Problems

Questions

Questions

Internet Exercises

Notes

12 Resource Management

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

The Basics of Resource Constraints

TIME AND RESOURCE SCARCITY

Resource Loading

Resource Leveling

STEP ONE: DEVELOP THE RESOURCE-LOADING TABLE

STEP TWO: DETERMINE ACTIVITY LATE FINISH DATES

STEP THREE: IDENTIFY RESOURCE OVERALLOCATION

STEP FOUR: LEVEL THE RESOURCE-LOADING TABLE

PHASE ONE

PHASE TWO

PHASE THREE

Resource-Loading Charts

Managing Resources in Multiproject Environments

SCHEDULE SLIPPAGE

RESOURCE UTILIZATION

IN-PROCESS INVENTORY

RESOLVING RESOURCE DECISIONS IN MULTIPROJECT ENVIRONMENTS

FIRST IN LINE

GREATEST RESOURCE DEMAND

GREATEST RESOURCE UTILIZATION

MINIMUM LATE FINISH TIME

MATHEMATICAL PROGRAMMING

Summary

Key Terms

Solved Problem

SOLUTION

Discussion Questions

Problems

Questions

Questions

Internet Exercises

MS Project Exercises

Exercise 12.23

Exercise 12.24

Exercise 12.25

Exercise 12.26

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

INTEGRATED PROJECT

Managing Your Project’s Resources

Notes

13 Project Evaluation and Control

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

Control Cycles—A General Model

Monitoring Project Performance

THE PROJECT S-CURVE: A BASIC TOOL

S-CURVE DRAWBACKS

MILESTONE ANALYSIS

PROBLEMS WITH MILESTONES

THE TRACKING GANTT CHART

BENEFITS AND DRAWBACKS OF TRACKING GANTT CHARTS

Earned Value Management

TERMINOLOGY FOR EARNED VALUE

CREATING PROJECT BASELINES

WHY USE EARNED VALUE?

STEPS IN EARNED VALUE MANAGEMENT

ASSESSING A PROJECT’S EARNED VALUE

Using Earned Value to Manage a Portfolio of Projects

FLOW OF EARNED VALUE SYSTEM

Issues in the Effective Use of Earned Value Management

Human Factors in Project Evaluation and Control

CRITICAL SUCCESS FACTOR DEFINITIONS

CONCLUSIONS

Summary

Key Terms

Solved Problem

13.1 EXAMPLE OF EARNED VALUE

Discussion Questions

Problems

Questions

Questions

Questions

Internet Exercises

MS Project Exercises

Exercise 13.32

Exercise 13.33

Exercise 13.34

Exercise 13.35

Exercise 13.36

Exercise 13.37

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

Appendix 13.1

Earned Schedule*

Notes

14 Project Closeout and Termination

Chapter Objectives

PROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:

Introduction

Types of Project Termination

Natural Termination—the Closeout Process

FINISHING THE WORK

HANDING OVER THE PROJECT

GAINING ACCEPTANCE FOR THE PROJECT

HARVESTING THE BENEFITS

REVIEWING HOW IT ALL WENT

PUTTING IT ALL TO BED

DISBANDING THE TEAM

WHAT PREVENTS EFFECTIVE PROJECT CLOSEOUTS?

Early Termination for Projects

MAKING THE EARLY TERMINATION DECISION

SHUTTING DOWN THE PROJECT

ALLOWING FOR CLAIMS AND DISPUTES

Preparing the Final Project Report

Conclusion

Summary

Key Terms

Discussion Questions

Questions

Questions

Questions

Internet Exercises

PMP CERTIFICATION SAMPLE QUESTIONS

Answers

Appendix 14.1

Notes

APPENDIX A The Cumulative Standard Normal Distribution

APPENDIX B Tutorial for MS Project 2016

Exercise A: Constructing the Network: Site Preparation Project

1. CONSTRUCT THIS NETWORK USING MS PROJECT 2016

2. IDENTIFY THE CRITICAL PATH. HOW LONG WILL THIS PROJECT TAKE?

3. ASSIGN AND LEVEL RESOURCES

4. SUPPOSE ROSE IS RESPONSIBLE FOR ACTIVITIES B AND C. ARE THERE ANY RESOURCE CONFLICTS? HOW DO WE KNOW?

5. SHOW THE SAME PROJECT WITH A GANTT CHART AND A NETWORK DIAGRAM

Exercise B: Adding Details and Updating the Network for an ­Ongoing Project

APPENDIX C Project Plan Template

PROJECT EXECUTION PLAN FOR PROJECT

EXECUTION PLAN REVISION HISTORY

Table of Contents

GLOSSARY

COMPANY INDEX

A

B

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D

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J

K

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NAME INDEX

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K

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SUBJECT INDEX

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B

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F

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I

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