Project Evaluation Essay Example | Topics and Well Written Essays - 2750 words

Project Evaluation - Essay Example Net Profit: Total Revenue – Total Expenses Payback Period: Initial Investment Cost / Annual Operating Savings The formulas have been taken from the website of the Finance Formulas. Return over Investment: (Earnings – Initial Investment) / Initial Investment Net Present Value: (Initial Investment + (Cash flow 1st year) / 1.1 + †¦Ã¢â‚¬ ¦ Recommendation Keeping in view the above calculations, I believe that the project ‘Alpha’ should be selected for execution. The ROI and Net Present Value of the project ‘Alpha’ is greater than the other two projects. However, the net profit and payback period of the project ‘Alpha’ is a little less than the other two projects. ... It is pertinent to mention here that the Saturday and Sunday (two day weekend) have been set off in the MS Project. The critical activities have been represented by red lines (bars) in the Gantt chart and Network Diagram. These activities include: Analysis Module 1, Implemented Module 1, Integrated Module 1 , Document Module 1 and System Test. After reducing the completion time of activity ‘F’ (7 in the Gantt chart) by 50 %, the total duration of completing the project would be reduced by one (1) day. In this case, the project would be started on 13th May 2013 and completed on 31st May 2013. Moreover, the critical activities of the project would be increased from five (5) to nine (9). The critical activities include: Analysis Module 2, Analysis Module 3, Implementation Module 2, Implement Module 3, Integrate Module 1 & 3, Test Module 2, Document Module 1, Integrate Module 2 & 3, and System Test. Reducing the completion time of the project by applying more human and t echnical resources, the technique is known as project crashing (Sparrow, n.d). The screenshots of the Gantt chart and Network diagram of the Omicron project’s second case (reduced activity duration) has been shown below: Task 3: Testing Part ‘A’ – Block Box Testing Several aspects of the final product would be tested to ensure that the website of the New World Resources website is working properly and finding out the potential bugs in the website. The black box testing ensures the functionality of the website / software application without reviewing the code (HTML, PHP, etc.) and implementation details, keeping in view only the requirement specifications of the website provided by the