Duration (week) | Cost (us $) |
3 | 2700 |
5 | 3500 |
7 | 5000 |
4 | 3000 |
6 | 4500 |
4 | 2850 |
7 | 4200 |
5 | 3200 |
6 | 4600 |
4 | 2930 |
3 | 2200 |
5 | 3900 |
4 | 2850 |
6 | 4350 |
7 | 4750 |
5 | 4150 |
6 | 4300 |
4 | 3145 |
3 | 2850 |
5 | 3800 |
Duration & Cost Minitab show:
You are a project analyst at Chenco Ltd. One of your responsibilities is to help top management examine how project management efficiency can be improved. You have been using earned value management (EVM) to analyze project management efficiency project by project. This time, however, you want to study how the duration of a deliverable affects its cost. You will use Minitab to visualize the relationship between the duration of project deliverables and their costs with a scatterplot/scatter diagram. The PMO director would also like you to quantify the relationship by calculating a correlation coefficient. You randomly select 20 projects and choose randomly 20 completed deliverables, their completion times and costs. These data are stored in the attached Minitab worksheet.
Project Management Efficiency Analysis | |
Variable | Description |
Duration | Time to complete a deliverable |
Cost | Cost of a deliverable |
In a Word processor document, answer the following questions:
3). What does the scatterplot tell you about the variables? Your answer must be related to this specific graph. It cannot be generic. (4points)
4). Calculate the coefficient correlation. What does it mean? Your answer must be specific to this problem. It cannot be generic. (4points)
5). Based on your analysis, what are your recommendations for management? Support your recommendations with evidence. (4points)
Write a short paper containing the answers to these questions. Successful reports will include: