ABC Company faces increasing pressure to cut costs, and deal with the problems caused by inadequate internal controls and outdated technology. External consultants were employed from “Restech”, a recruitment agency that provides specialist resources. These consultants conducted a feasibility study to identify options for addressing the problems. The recommendations were: (1) Restructure Facilities services and reduce the number of Facilities staff by 20%. Reducing staff will mean that no property transfer is required. The reduction in staff will enable ABC Company to reduce costs to agreed levels.
(2) Restructure IT services and replace the existing IT system with a new hardware and software solution.Initial estimates indicated that the project would cost 2.5 million USD and take two years to complete. There is an expected saving of 20 million USD over 10 years. Which of the following describes the term ‘Benefits’?

Notes from the project manager’s Diary: “The Schedule appears to be too tight and it will not be possible to complete the project within given timeline. Hence time will become a major constraint for the project.” Constraints should be negotiated with the stakeholders in the early stages of the project because ……

As per note from project manager’s diary – “The Schedule appears to be too tight. It will not be possible to complete the project within given timeline.” The request to stakeholders for relaxing the schedule is a form of ……

During the Collect requirements process, while interviewing stakeholders, the project manager became aware of a set of “expectations” that the stakeholders had which were not explicitly mentioned in the requirements documentation. What should be done about such implicit expectations?

ABC Company, awarded the Initiation contract to Franklin Consultants. The initiation contract consisted of 8,00,000 USD (initial estimate) cost reimbursable contract with a fixed fee of 7 % of initial estimated cost. ABC Company also included an incentive clause stating that if there is cost saving in the project then it will be shared as 70:30 with Franklin Consultants (30% of savings would be given to Franklin Consultants). What will be the final payment to Franklin Consultants if the project gets completed in 7,60,000 USD?