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We()the cost to be five thousand dollars.
A.think
B.believe
C.estimate
D.hope
![](https://static.youtibao.com/asksite/comm/h5/images/solist_ts.png)
A.think
B.believe
C.estimate
D.hope
We must cherish experience______ at the cost of blood.
A.enquired
B.inquired
C.acquired
D.required
A.deposit
B.cost
C.charge
D.amount
We can infer that the plumbing ______ at that time.
A. cost little
B. was more expensive than a water system
C. was too expensive for every family to afford
D. was not necessary
A.Right
B.Wrong
C.Doesn't say
A.concentrate
B.cost
C.spend
D.make
From the last sentence of this passage we conclude that______.
A.businessmen know well that advertisement could bring them more profits
B.advertisement could hardly convince people of the value of goods
C.business usually do not pay much for advertisement
D.advertisement usually cost business large amounts of money
A.in the interest of
B.under the control of
C.for the sake of
D.at the cost of
The second sentence of the last paragraph tells us that it is ______.
A.preferable to have a sound sleep before a night shift
B.good practice to eat something light before we go to bed
C.essential to make up for cost sleep
D.natural to take a nap whenever we feel the need for it
From the last sentence of this passage we conclude that ______.
A.businesses usually do not pay much for advertisement
B.businessmen know well that advertisement could bring them more profits
C.advertisement could hardly convince people of the value of the goods
D.advertisement usually cost businesses large amounts of money
From the last sentence of this passage we conclude that ______.
A.businessmen know well that advertisement could bring them more profits
B.advertisent could hardly convince people of the value of goods
C.business usually do not pay much for advertisement
D.advertisement usually cost business large amounts of money
This information was taken from an internal newsletter of The Knowledge Partnership LLP (TKP), a company which offers project and software consultancy work for clients based in Zeeland. The newsletter was dated 2 November 2014 and describes two projects currently being undertaken by the partnership.
Project One
In this project, one of our clients was just about to place a contract for a time recording system to help them monitor and estimate construction contracts when we were called in by the Finance Director. He was concerned about the company supplying the software package. ‘They only have an annual revenue of $5m’, he said, ‘and that worries me.’ TKP analysed software companies operating in Zeeland. It found that 200 software companies were registered in Zeeland with annual revenues of between $3m and $10m. Of these, 20 went out of business last year. This compared to a 1% failure rate for software companies with revenues of more than $100m per year. We presented this information to the client and suggested that this could cause a short-term support problem. The client immediately re-opened the procurement process. Eventually they bought a solution from a much larger well-known software supplier. It is a popular software solution, used in many larger companies.
The client has now asked us to help with the implementation of the package. A budget for the project has been agreed and has been documented in an agreed, signed-off, business case. The client has a policy of never re-visiting its business cases once they have been accepted; they see this as essential for effective cost control. We are currently working with the primary users of the software – account managers (using time and cost data to monitor contracts) and the project support office (using time and cost data to improve contract estimating) – to ensure that they can use the software effectively when it is implemented. We have also given ‘drop in’ briefing sessions for the client’s employees who are entering the time and cost data analysed by the software. They already record this information on a legacy system and so all they will see is a bright new user interface, but we need to keep them informed about our implementation. We are also looking at data migration from the current legacy system. We think some of the current data might be of poor quality, so we have established a strategy for data cleansing (through offshore data input) if this problem materialises. We currently estimate that the project will go live in May 2015.
Project Two
In this project, the client is the developer of the iProjector, a tiny phone-size projector which is portable, easy to use and offers high definition projection. The client was concerned that their product is completely dependent on a specialist image-enhancing chip designed and produced by a small start-up technology company. They asked TKP to investigate this company. We confirmed their fears. The company has been trading for less than three years and it has a very inexperienced management team. We suggested that the client should establish an escrow agreement for design details of the chip and suggested a suitable third party to hold this agreement. We also suggested that significant stocks of the chip should be maintained. The client also asked TKP to look at establishing patents for the iProjector throughout the world. Again, using our customer contacts, we put them in touch with a company which specialises in this. We are currently engaged with the client in examining the risk that a major telephone producer will launch a competitive product with functionality and features similar to the iProjector.
The iProjector is due to be launched on 1 May 2015 and we have been engaged to give advice on the launch of the product. The launch has been heavily publicised, a prestigious venue booked and over 400 attendees are expected. TKP have arranged for many newspaper journalists to attend. The product is not quite finished, so although orders will be taken at the launch, the product is not expected to ship until June 2015.
Further information:
TKP only undertakes projects in the business culture which it understands and where it feels comfortable. Consequently, it does not undertake assignments outside Zeeland.
TKP has $10,000,000 of consultant’s liability insurance underwritten by Zeeland Insurance Group (ZIG).
Required:
(a) Analyse how TKP itself and the two projects described in the scenario demonstrate the principles of effective risk management. (15 marks)
(b) Describe the principle of the triple constraint (scope, time and cost) on projects and discuss its implications in the two projects described in the scenario. (10 marks)