Project Management: Time T

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What is a key step identified by the National Audit Office for making project objectives clear?

Focusing on the short-term outcome of the project

Developing a weak business case for investment

Determining the worst form for the delivery of projects (correct)

Selecting the worst projects to pursue

In addition to time, cost, and quality, what other aspects are the traditional client's needs usually based on?

Strategic partnership with suppliers

Customer service of the project managers

Productivity improvements (correct)

Quality of materials used in construction

What should investors take into account to integrate into the overall business case for investment according to the text?

Stock market trends

Political influences on the project

Historical performance of similar projects

Needs of their customers (correct)

What aspect do all investment requirements need to be based on, according to the text?

Whole life-cycle performance of facilities Signup and view all the answers

Which factor has become an essential need in addition to time, cost, and quality performance criteria over the years?

Sustainability Signup and view all the answers

What is a key consideration for investors to ensure when looking at the impact of their investment on quality of life?

Ease of functional reconfiguration Signup and view all the answers

What is the primary focus of Time T = 1 period?

Translating client needs and requirements into an overall sketch design Signup and view all the answers

At the Time T = 1 period, what level of costing information is expected to be available?

Little costing information about the client needs Signup and view all the answers

What should be the basis for estimating costs and benefits at Time T = 1 period?

Rules of thumb, cost per square metre, or other preferred methods Signup and view all the answers

How should the costs and benefits be presented at Time T = 1 period?

In present value terms for the whole life-cycle of the project Signup and view all the answers

What should be the approach to quantifying benefits at Time T = 1 period?

Quantify financial and non-financial benefits to the maximum extent possible Signup and view all the answers

Based on the analysis at Time T = 1 period, what decisions can the decision maker take?

Invest in the next phase, delay investment, or completely abandon the project Signup and view all the answers

Which of the following is NOT a key consideration when making the decision to invest in the production stage?

The availability of skilled labor for construction Signup and view all the answers

Which of the following is the primary purpose of conducting a detailed WLCC analysis at the end of the design phase?

To scrutinize the financial consequences of the investment decision Signup and view all the answers

Which of the following is a key decision that should be made at the production stage?

Finalizing the construction detail production Signup and view all the answers

What is the primary purpose of conducting a design benefits analysis?

To project the costs and benefits of design decisions through the end of the facility's economic life Signup and view all the answers

What is the main reason for conducting an updated narrative review of the previous phase before making the production decision?

To ensure the initial parameters used in the economic analysis have not changed Signup and view all the answers

Which of the following is a key benefit of the detailed consideration given to the likely effect of maintenance and operational costs associated with the selected design solution?

Better alignment with the project's objectives Signup and view all the answers