Question

5. Create a spreadsheet to calculate your projected total costs, total revenues, and total profits for giving a seminar on cost estimating. Make the following assumptions: You will charge $600 per person for a two-day class. • You estimate that 30 people will attend the class, but you want to change this input. Your fixed costs include $500 total to rent a room for both days, setup fees of $400 for registration, and $300 for designing a postcard for advertising. You will not include your labor costs for this estimate, but you estimate that you will spend at least 150 hours developing materials, managing the project, and giving the actual class. You would like to know what your time is worth given different scenarios. You will order 5,000 postcards, mail 4,000, and distribute the rest to friends and colleagues. • Your variable costs include the following: 1. $5 per person for registration plus 4 percent of the class fee per person to handle credit card processing; assume that everyone pays by credit card 2. $.40 per postcard for printing if you order 5,000 or more 3. $.35 per postcard for mailing and postage 4. $25 per person for beverages and lunch 5. $30 per person for class handouts Be sure to have input cells for any variables that might change, such as the cost of postage and handouts. Calculate your profits based on each of the following numbers of people who might attend: 10, 20, 30, 40, 50, and 60. In addition, calculate what your time would be worth per hour based on the number of students. Try to use the Excel data table feature to show the profits based on the number of students. If you are unfamiliar with data tables, just repeat the calculations for each possibility of 10, 20, 30, 40, 50, and 60 students. Print/scan your results on one page, highlighting the profits for each scenario and what your time is worth.

Answer 1

Chapter 8 question 1 & 2

Assume that your organization wants to hire new instructors for your project management course. Develop a list of quality standards that you could use in making this hiring decision. Suppose that some current instructors do not meet these standards. Provide suggestions for how you would handle this situation.

Cost per person Room rental Setup fees and registration Postcard design for advertising Labour (hours) Postcards ordered Mailed postcards Registration cost per person Credit card handling fee (of cost pl Lunch and beverages Class handouts Cost per postcard Mailing cost per postcard $600.00 $500.00 $400.00 $300.00 150 5000 4000 $5.00 4.00% $25.00 $30.00 $0.40 $0.25 People Revenue Costs Profits Labour p/h 10 $6,000.00 $5,040.00 $960.00 $6.40 20 $12,000.00 $5,880.00 $6,120.00 $40.80 30 $18,000.00 $6,720.00 $11,280.00 $75.20 40 $24,000.00 $7,560.00 $16,440.00 $109.60 50 $30,000.00 $8,400.00 $21,600.00 $144.00 60 $36,000.00 $9,240.00 $26,760.00 $178.40

Instructors are key when it comes to teaching a course. They control the pace, approach, and tone of the class as well as how much the class enjoys the course and what information is learned.

Some quality standards should be:

1. Interview

2. Confidence

3. Inspiration

4. Motivation

5. Know the material

6. Production

7. Communication

8. Professionalism

Create a Pareto chart based on the information in the following table. First, create a spreadsheet in Excel using the data in the table. List the most frequent customer problems first. Use the Excel template called pareto_chart.xls on the text’s companion Web site and check your entries so your resulting chart looks similar to the one in Figure 8-7. See the companion Web site for help in creating Pareto charts.

Frequency Week % of Total Cumulative % 120 90 44% 33 44% 78% Customer Complaints Service rep cannot answer customer's question Customer is on hold too long Service rep does not follow through as pronused Customer gets transferred to wrong area or cut off 40 15% 93% 100% 20 270 7 100% Customer Complaints Pareto Diagram Cumulatives 100 90 120 110 100 90 80 70 80 70 60 Frequency Week 40 40 30 30 20 20 10 0 10 0 Service rep cannot Customer is on Service rep does Customer gets andwer hoid too long not follow through transferred to customer's As promised wrong or out question oft