Project management unit III

QUESTION 1

1. What is the critical path of a project, and why is this concept important to an effective schedule management?
   Your response should be at least 200 words in length.

QUESTION 2

1. The scope baseline consists of the scope statement and the work breakdown structure (WBS). Describe the relationship between the scope statement and the WBS and why they are fundamental to project success.
   Your response should be at least 200 words in length.

Unit III Discussion Board Question
1. You are managing a project with a duration of 24 months and a budget of $12 million dollars. Assume that you are running two months behind schedule, but you have enough money to complete it. Should you crash or fast track your schedule? Explain your reasoning.
2. When would scope creep or gold plating be acceptable for a project?