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THE
FINANCIAL & COMMERCIAL FRAMEWORK
Instructions to candidates:
a) Time
allowed: Three hours (plus an extra ten minutes’ reading time at the start – do
not write anything during this time)
b)
Answer any FIVE questions
c) All
questions carry equal marks. Marks for each question are shown in [ ]
1.
Review the main approaches available to a project manager to collect estimates
for labor time on a project. [20]
2. Coding
systems are widely recognized as being essential to support the delivery of a
project. Whilst project managers tend to have their favored coding system,
there may be occasions when the customer insists on a particular coding
approach. Explain the action that a project manager can take if asked to use a
coding system that they are not familiar with. [20]
3.
Review the factors that must be present for a legally binding contract to exist
between a customer and a project manager. [20]
4.
Explain the factors that are typically taken into account in determining the
price of a contract. [20]
5.
Analyze how a project manager can respond in a situation where a project is
ill-defined or difficult to define. [20]
6.
Review the typical below-the-line costs that a project manager will typically
need to manage. [20]
7.
Project cost estimators are often described on the basis of well-known classification
criteria. Explain how they can be described on the basis of their
characteristics and attitudes. [20]
8.
Review the contribution of project definition checklists to project management.
Support your answer with an example of a checklist. [20]