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The Project Sponsor and the Portfolio Manager are
reviewing the business case for your project. Based on
the cash-flow data below what is the payback period?
Year 1 Cash in = $Nil, Cash out = $450,000
Year 2 Cash in = $250,000, Cash out = $200,000
Year 3 Cash in = $450,000, Cash out = $50,000
Year 4 Cash in = $500,000, Cash out = $50,000
Year 5 Cash in = $300,000, Cash out = $50,000
B. 2 Years.
C. 3 Years.
Tip of the week: Master the art of delegation
A project manager can’t know it all, or do it all. If you subscribe to the old saying that ‘the only way to get something done right or on time is to do it yourself’, then there is a very strong likelihood that your results as a project manager will be less than stellar. Delegation is the assignment of authority and responsibility to another person to carry out specific tasks. Such an assignment carries the accountability for execution in both a timely and an effective manner. Task assignment, however, is only half the process. An effective project manager must follow up to ensure that assigned tasks are completed on time and in an effective manner, and must have his or her own personal tracking process for noting outstanding tasks and for executing follow‐ups on those tasks.
For more on the art of delegation see: https://www.mosaicprojects.com.au/WhitePapers/WP1091_Delegation.pdf