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Homework 4 of project management.
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Trevor Shook 2/27/ CVEN 349 Homework 4
a. Design 1: AW = 173.66 Design 2: AW = 191. b. Design 1 has the lower cost c. If consumption goes up, revenue from the project will go up. If consumption goes down the project may suffer losses. d. IRR or NPV could also be used to calculate the potential values of the two projects
a. 1. B/C analysis - A systematic and quantitative method for assessing the desirability of projects. Very common to see in public works projects where the goal of the project isnt necessarily for profit but must take into account the long term effects and side effects of thr project.
When a change is made in a project it must be approved by the owner. The four main changes are Time Extensions - granted for reasons out of the contractor's control that he could not anticipate. Change Orders - An alteration to the design document, this ultimately becomes a mini contract with negotiated fee and schedule. Change Conditions - Contract based on conditions not fully understood by the designer, contractor claims more time or money Design Error/ Omission - The Designers drawings or specs are wrong. Texas A&M was organized by state legislature in 1871 under the provisions of the Morrill Land-Grant College act of 1862, The first students enrolled in 1876. Texas A&M was the first higher education institution in Texas and was meant to help the state of Texas grow in statewide education.