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Project Performance Analysis
Introduction
The quality control manager of a manufacturing company randomly selects 50 companies'latest projects and then assigns a total score (from zero to 7) to each project. From the perspective of probability, I evaluate the company's project completion.
Analysis
For the randomly selected company's recent 50 projects to complete the pros and cons of the analysis, mainly includes the following three aspects. Firstly, the quality score of project completion(Event Q: Quality is satisfied if Quality Score > 500); secondly, the duration of the project (Event S: Speed is satisfied if Speed < 13 days); thirdly, the total cost of the whole project( Event C: Cost is satisfied if Cost < 234,000). Considering the above three factors, I can get the advantages and disadvantages of the project.
First, let's take a look at the completion of individual indicators for each project.
The number of quality is satisfied is 29, accounting for 58% (P(Q))of the total number of 50 projects. More than half of the projects can meet the quality requirements. The number of Speed is satisfied is 22, accounting for 44%(P(S)) of the total 50 projects, and less than half of the projects can meet the quality requirements. The number of Cost is satisfied is 26, accounting for 52% of the total of 50 projects (P (C). Only less than half of the projects can meet the quality requirements. Regarding the completion of the three evaluation indicators, the project meets the requirements best, followed by the end of the project cost, and finally the achievement of the project time. To make the project complete, need to arrange the progress of the project reasonably. It is essential to ensure that the project is completed within the specified time.
Next, I use three indicators to make a comprehensive analysis of the project.
NOTE:
1.The probability representation of index completion: P(Q),P(S) ,P(C);
2.The probability Representation of incomplete indicators: P(Q'), P(S' ) P(C').
The three indicators are not completed and can be expressed as” P(Q'US'UC' )”, There are 6 such projects, accounting for 12% of the total number. The project meets the quality requirements, but the cost and time exceed the requirement P(QUS'UC' ).There are 9 such projects, accounting for 18% of the total number. Among the three assessment indicators, the completion time is satisfied, but the project completion quality score and project cost exceed the stipulation, which can be expressed as P(Q'USUC' ). There are 5 such projects, accounting for 10% of the total number. Among the three assessment indicators, the project cost is satisfied, but the project completion quality score and completion time exceed the stipulation, which can be expressed as P(Q'US'UC ). There are 4 such projects, accounting for 8% of the total number. Only three items in the assessment index are not satisfied with the cost of the project, which can be expressed as P(QUSUC' ). There are 4 such projects, accounting for 8% of the total number. The three assessment index is not satisfied with the completion time only. This can be expressed as P(QUS'UC ). There are 9 such projects, accounting for 18% of the total number. In the three assessment indicators, only the quality score is not satisfied, this can be expressed as P(Q'USUC). There are 6 such projects, accounting for 12% of the total number. The three assessment indicators are all expressed as P(QUSUC).There are 7 such projects, accounting for 14% of the total number.
From the above data, it can be seen that only 14% of the total compliance with the requirements and 12% of the total non-compliance with the requirements are almost the same. Among them, 38% did not meet one of the indicators, 36% did not meet two indicators, and the two indicators were almost equal. From this data, we can only see these, can not analyze the relationship between the three indicators.
Next, analyze the interrelationship between the three indicators.
“Of those who satisfied Cost, what percentage also satisfied Speed”, P(S|C)=0.26; “Of those who satisfied Quality, what percentage also satisfied Cost”, P(Q|C)=0.32;“Of those who satisfied Quality, what percentage also satisfied Speed but did not satisfy the Cost”; P((SUC')|Q)=0.08; “Of those who satisfied Cost, what percentage also satisfied Speed but did not satisfy the Quality”, P((SUQ')|C)=0.16; “Of those who did not satisfy Speed, what percentage satisfied Quality and Speed”, P((CUQ)|S')=0.18; “What percentage satisfied exactly two of the three criteria”, P[(QUSUC' )U(QUSUC' )U(Q'USUC)]=0.38; “Of those who satisfied at least one of the three criteria, what percentage satisfied exactly one criterion”, [P(Q'USUC' )U(Q'US'UC )U(Q'US'UC )]/[1-P(Q'US'UC')]=0.41;“Of those who did not satisfy Cost, what percentage satisfied the Speed criterion”, P(S|C')=0.24,
It can be seen from the data that up to 52% of most people who do not meet the standards are. When the cost of the project meets the requirements, the quality score is up to 58%. These data are consistent with those above.
Conclusion
In summary, project completion time is the worst indicator of compliance, followed by project cost, and finally the project quality score. In this way, the company's personnel are capable and able to do a good project, which can be seen from the score of the project, follow-up to better project management, need to do an excellent job in planning, this planning includes progress planning, reasonable Gantt chart and according to the time plan the whole process. Secondly, it is essential to make a reasonable budget for the project ahead of time, which is also essential for the completion of the project's quality and quantity.