Stutdown-shartup activity planner’s main goal is to complete project with minimal time as well as minimal cost. Time, being one of most vital factors during shutdown-startup of any industry, can be traded between various divisions like production and technical, mechanical, electrical or human resource within the industry in sequential projects. Much effort (e.g. resources which demand cost) is required to complete the activities in shorter time. There is a trade-off relationship between activity time duration and its resources. In optimal case for trading time, various divisions have reasonable incentive to cooperate. In this paper, we worked for the problem in field of industry cooperating and then we propose a model to solve it based on games
Market live is an online game that helps to educate students in making real life business decisions and seeing their results. The game included five teams that were starting new companies entering the microcomputer business. They were given investment money to help them start their business. By using that capital to open sales offices, web sites, design their brand, and build their factory. Since microcomputer industry was in the introductory stage of the product cycle there was no previous history nor established competitors. The teams were given six quarters to get their companies up and running. In those quarters each team should have become self-sufficient and earned substantial profits from their operating decisions. The team’s cumulative performance
This week’s key learning areas have been eye opening and worthwhile. Our game simulation has taught me how to manage the human resources (HR), capacity planning, receiving, production, and shipping departments. One key element that caught my attention was bottleneck issues. Although reputation and meeting goals is important, I must pay attention to the machines that are causing bottleneck issues; performing a cost/benefit analysis can fulfill this. It is necessary to manage mistakes made in strategy during the game, which can resolve issues down the road to have a successful business plan. There were three questions posed in our case study: What are the highest three unit profits?; What are the lowest percentage mark-up items?; and How would you use this in determining your business plan? These key areas will be discussed throughout the journal to express my understanding of the experience.
Specific Activities 3 4. Milestones 5 5. Dependent Relationship & Legs 5 6. RACI chart 6 7. Scheduling 11 7.1 Estimation of Most Likely Case Duration 11 7.2 Durations of Added Tasks 11 7.3 Critical Path 12 7.4 ES, EF, LS, LF & Slack 13 8.
2. Number of weeks each of these activities should be crashed to meet the deadline with the lowest possible increase in cost:
World War 1 began in 1914 and ended in 1918. The war was between the Central Powers which consisted of Germany, Austria-Hungary, and Turkey and the Allied Powers which was made up of France, Great Britain, and Italy. The United States remained neutral in the war until 1917. The United States entered the war because Germany was provoking them. Germany was provoking the United States by attacking innocent ships, and blowing up a munitions factory in New Jersey. The United States contributed to the Allied cause after joining the war by asking Americans to buy liberty
The factory has been running for 50 simulated days, and management has recalled the high-powered operations team (you) to manage the capacity, scheduling, purchasing, lot sizing, and contract quotations to maximize the cash generated by the factory over its lifetime. Management is not providing any operating budget beyond the cash generated by the factory itself. You will have control of the factory from day 50 to day 386. At 1 hour per simulated day, this translates to 14 real days. At day 386, you lose control of the factory, and the simulation will quickly run another 100 days of simulation. When you lose control of the factory, management expects you to leave the factory parameters set to maximize the factory’ cash position when the factory shuts down on day 486. After the simulation s ends on day 486, you can check the status of your factory, but the factory will no longer be running. Team scores and ranking are based “cash balance,” which
The Minefield by Diana Thiel starts with a heartbreaking story of a young boy and his friend running between towns ends horribly when they took a short cut to find food. One of the young boys ran off ahead only to accidentally step on a landmine, taking the young boy’s life. The story was being told by a father at dinner to his family, but the father did not seem fazed by the horrific story of his friend. The narrator states throughout the poem, it seems as if the father is still living in the minefield by the anger busts and the bruises he leaves on his family. With the father’s violent outbursts and the way, the author talks about the abuse is both the father and the narrator suffer from Post-Traumatic Stress Disorder. The structure the author used of the poem says a lot about what the author is trying to say. As well as the words themselves. The words and the structure may cause the reader to have mixed feeling about the father throughout the poem, do you feel bad for the father for what he has been through or anger for abusing his family?
One of the main concerns during the meeting was the impact of cost and time constraints on networking techniques and project schedules. Under the ideal situation, the project start and end dates are fixed. Adding resources is not usually feasible as it increases cost. There should be a balance between time and cost constraints as it avoids wasting of resources. Also most people are willing to accept that costs could exceed expectations, and might even take a perverse delight in recounting past examples, the same is not true for time constraints. This is probably due to the fact that cost over runs are resolved in-house, while schedule issues are open and visible to the customer. A company has a lot of useful, desirable work that could be done, but has limited and finite resources available with which to do that work. Choices have to be made about which work to do and how to allocate resources. This leads to constraints especially, the time constraint and the cost constraint. Time, in project management, is analyzed down to its smallest detail. Each and every component of the project is analyzed with respect to the time required for completion. After completion of this analysis these components are broken down even further into the time required to do each task.
One group have 3 members , and in my business simulation we got 8 different companies. Each company has to run the camera business every week , one week in real life is represent 1 year in the simulation for a consecutive 10 weeks. The ultimate goal for all the companies
The glo-bus game is an online game developed by IBM and is short for globe business simulation game. It provides a competitive environment to all the participants and company’s managers. In glo-bus, 13 groups in an industry. Each group run a camera company with the same start condition, they need to make their own decision to defeated other groups and meet the investors expectation. The camera company was divided into four main regions such as Europe-Africa, Asia-Pacific, Latin America, and North America. In every region we have to maintain certain factor such as ROE, Net profit, EPS, S/Q rating, Net profit, Revenue, Cash flow etc. The aim of this game is used what we learnt in the class and practice our manage
To arrive at the optimal schedule, Bjorn and his team must consider which activities to accomplish using normal conditions and which activities to crash that keeps the budget to a minimum. To accomplish this, using table 2 we first notice that activities C, E, G, H, N, O, and P cannot be crashed and therefore,
Having 3 days of delay in electrical can affect the whole project. Therefore, the negotiation of 15 working days would exceed up to 18 days, which could cause the penalty of $300 ($100 per extra day). In order to minimise a project’s critical path, sequencing of tasks should be changed. On the off chance that one can do a project’s tasks in alternate grouping to that initially proposed, one might have the capacity to shorten the critical path. A level of intricacy by striving for shortening the critical path, which is primarily hazardous, is unavoidably acquainted with the task. (Aydar, 2014) With a specific end goal to convey this shorter timescale, the critical path should be controlled
Alpha Corporation hires a subject matter expert at a salary of Rs 5,000 per month including benefits. The subject matter expert is non-billable and is expected to help engineers with resolving their technical queries as well as assist them in development of new technology. The subject matter expert was hired on 1st of February and today is 1st of March of the same year. You have just paid him his salary. What accounts will this transaction impact?
The development of linear programming has been ranked among the most important scientific advances of the mid 20th century. Its impact since the 1950’s has been extraordinary. Today it is a standard tool used by some companies (around 56%) of even moderate size. Linear programming uses a mathematical model to describe the problem of concern. Linear programming involves the planning of activities to obtain an optimal result, i.e., a result that reaches the specified goal best (according to the mathematical model) among all feasible alternatives.
In field of project management, there are a plethora of mechanisms under perpetual reevaluation. One specific segmentation of project management under such scrutiny pertains to cost duration, which is the time and monetary costs of completing individual tasks within the project’s critical path (IBM Knowledge Center, 2016). The process of monitoring and evaluating the time and financial impacts of each task is referred to as cost duration analysis (IBM Knowledge Center, 2016). A chief concern of cost duration analysis is identifying tasks within the project’s critical path which can reduce project duration (PMI, 2013). A common approach to reducing a project’s duration is task “crashing” (PMI, p.181). According to The Project Management Institute (2013) crashing refers to the process of methodical determining the financial value of increasing a critical path task’s resources in order to decrease project duration (p.181).