Applying the learning curve theory to a project- apa style 6th

Applying the Learning Curve Theory to a Project

Time and cost estimates are important to project management for the following reasons:

• Estimates are key inputs      to project planning and control.
• Estimates support good decisions.
• Estimates are used to determine project      duration and cost.
• Estimates are used to develop time-phased      budgets and establish the project baseline.
• Without estimates you have      inaccuracies, which result in time and cost under/overruns.

Most project tasks are unique and require the project manager to estimate duration/cost for each and every task separately; however, projects may also have repetitive tasks completed by the human resources assigned to the project. To estimate the labor hours/cost for these tasks the project manager may use an estimating technique that relies on learning curve theory to estimate the time and/or cost for completing repetitive tasks.

In this assignment, you will:

Task #1. Define and thoroughly discuss the Learning Curve Theory and how it applies to project management.

Task #2. Explain how you would apply the principles of the Learning Curve Theory to a real project in which you are familiar (as a project manager, team member, or one that you have read about in current events).

Task #3. Complete the following exercise on learning curves (see Page 2 of this assignment).

Instructions for completing the assignment:

· Before you begin this assignment, review the grading rubric for this assignment to understand how your work will be graded.

· Search out scholarly resources related to the subject of this assignment; use the UMUC online library databases as a start. You may also use the PMI site as a resource.

· In MS Word, compose a paper of 300-400 words (approximately 1 page) that addresses Task #1 and Task #2.

· Insert your response to the Exercise on learning curves (Task #3) and include all supporting calculations.

· Format your assignment response in accordance with APA 6th edition, include a title page and References page, and save the file as PMAN634_IA5_yourlastname

· Submit your assignment through the Assignment folder of the course no later than 11:59 p.m. on Sunday, Week 5.

EXERCISE: Using the concept of Learning Curves for Estimating consider the following scenario and respond to each question (all work should be shown in your Word document):

Suppose that you are the estimator who is assigning costs to a major project to be undertaken this year by your firm, Acme Software Developers. One particular software development process involves many labor-hours, but the work is highly redundant. You anticipate a total of 100,000 labor-hours to complete the first iteration of the software development process and a learning curve rate of 80%. Assume you are going to use the cumulative average time in your calculations to determine the time it takes for each iteration. You are attempting to estimate the cost of the tenth iteration of this repetitive process.

Based on this information and a \$60 per hour labor rate, what would you expect to budget as

A.  The cost of the tenth iteration?

B. The cost of the twentieth iteration?

From Other websites:

Supplementary Materials:

From the UMUC library: (Note: You must search for these articles in the UMUC library.  In the case of video links in the UMUC library, exact directions are given on how to find the video.)

• Anand, B. N. (2006). Crafting business strategy and environmental scanning [Video]. Harvard Business School Faculty Seminar Series.
• Follow these steps to find this video:
•           Go to http://sites.umuc.edu/library/index.cfm
•           Type in the entire name of the article: “Crafting business strategy and environmental scanning,” into the search box and click on “search.”
•           Click on “multimedia” in the upper left hand corner of the webpage (under “Ask a Librarian.)
•           Type in the entire name of the article: “Crafting business strategy and environmental scanning,” in the box at the top of the page to the left of the word, “Search.”
•           Make sure only “Business Videos” and “Find all my search term” are the only boxes that are checked.  Uncheck both “Image Collection” and “Apply equivalent
•                subjects”
•           Click on “Search” at the bottom right hand corner of the webpage.  It is a small word in a box.
•           The next page shows the article.  Click on the article.
• Dahab, S. (2008). Five forces. In S. R. Clegg & J. R. Bailey (Eds.), International encyclopedia of organization studies (Vol. 4, pp. 508-509). Thousand Oaks, CA: SAGE Publications Ltd. doi: 10.4135/9781412956246.n178.
• Grundy, T. (2006). Rethinking and reinventing Michael Porter’s five forces model. Strategic Change15(5), 213-229. doi:10.1002/jsc.764.
• Harper, G. M. (2013). Porter’s Five Forces. Salem Press encyclopedia.
• Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review86(1), 78-93.

From Other websites:

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Services

Custom Writings Help is a Quality-Oriented Company in Online Writing as a result of hiring exceptional professionals to execute clients' tasks.

Research Papers

At Custom Writings Help,We understand the struggle of research paper writing, and that is why at Custom WritingS Help, we are all out to help you. We pride ourselves on having a team of clinical writers. The stringent and rigorous vetting process ensures that only the 'BEST' Writers are chosen for the job. We have highly qualified Ph.D. and MA writers working with us; we equally offer these experienced writers specific bonuses and incentives to make them deliver highly original, unique, and informative content at reasonably low prices.

Thesis Writing Service

Worlwide, Many Masters Students are struggling with Thesis Completion. A thesis is likely to be the longest and most challenging piece of work a student has ever completed. However, unlike essays and other assignments, a student can pick a particular interest topic and work on their initiative. Fortunately, we are there for you. At Custom Writings Help, you are assured of an authentic, imaginative, informative, linguistically great, and advantageous thesis that adheres to all your needs. So, why continue considering different writers when you have discovered the best in the field?

Custom Papers

Not a single student can avoid writing custom papers. However, a total lack of experience, skills, and time makes it very hard to produce a superb writing piece. Therefore, if you are seeking professional help, turn to us. Our specialized and experienced writers compose a variety of model papers, including custom essays, college term papers, research papers, book reports, MBA essays, executive summaries, dissertations, Ph.D. theses, admission essays, and research proposals for college and university students at any level.

Essay Writing

Most of the students disregard the critical principles of essay writing and compose papers below sensible guidelines. Therefore, with Custom Writings Help, one should not worry about his/her essay. Our Writers compose informative and engaging content on all complexities and topics. We write meaningful and smart essays while prioritizing all aspects that bring about a good grade, such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines.

Coourse Work Writing

Don't let the seemingly never-ending onslaught of writing assignments get you down. If you are looking where to get course work assistance online, the writers at Custom Writings Help are here to assist you with all of your writing needs. We undertake to unique delivery of papers that meet the professor's requirements. The content is proofread, edited, and checked plagiarism before submission to customers. No matter how big or small your work is, we will deliver on time. Try US Now! !

Dissertation Writing Service

High-Quality Dissertation Writing Services are rare. They require Ph.D. academicians – not easily found. However, are an exception. The years, time, and resources we have invested in the dissertation world has given us a competitive advantage over others. Choose to come to Custom Writings Help; You will find perfect Ph.D. consultants who have written hundreds of dissertations theses ready to help you. Let our dissertation-writing services help you craft your dissertation, for you are assured we will give you the results.