2 . I67.#2 a- Freeze Inc. is planning the implementation of a new sales offices in the Tampa - FL area for its growing air conditioningbusiness and have identified activities and their immediate predecessors for this project as follows:Page 1 of 4ActivityActivity DescriptionImmediatea: OptimisticTime (weeks)m: Most LikelyTime (weeks)p: PessimisticTime (weeks)PredecessorsLocate new facilitiesNone812Order furniture13Interview prospective staffNone3104Hire and train staff815Remodel facilities1810186Receive and set up furniture12Move in and start up4, 5, 61b) - Draw the Activity-on-Node (AON) diagram using the following representation for every node:ActivityExpectedDescriptionTimeESEFLSLFSlack

Project network is the graphical representation of project activities and their duration to complete…

Answered: b) - Draw the Activity-on-Node (AON)…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Slove the quation: Tony and his team identified some risks during the first month of the Recreation and Wellness Intranet Project. However, all they did was document the risks in a list. They never ranked the risks or developed any response strategies. Because the project has had several problems, such as key team members leaving the company, users being uncooperative, and team members not providing good status information. Tony has decided to be more proactive in managing risks. He also wants to address positive risks as well as negative risks. The quation is ; Develop a response strategy for one of the negative risks and one of the positive risks. Enter the information in the risk register.
1.15 Given the following financing project being considered by a venture firm, find the probability of completing the path with the longest expected duration by 17 weeks. By 24 weeks. By what date is management 90 percent sure that this path will be completed? refer to first pic If the venture firm can complete the project for the customer within 18 weeks, it will receive a bonus of $10,000. But if the project delays beyond 22 weeks, it must pay a penalty of $5,000 due to lost opportunity.  If the firm can choose whether or not to bid on this project, what should its decision be if the project is only a breakeven one normally? Figure 8.15a shows the network. refer to second pic
There are 11 project selection methods which are: Benefit measurement methodsBenefit/cost ratioEconomic modelScoring modelPayback periodNet present valueDiscounted cash flowInternal rate of returnOpportunity costConstrained optimization methodsNon-financial considerations. Which one of these techniques or methods are used in construction projects for the benefit of citizens?
In theory, scenario analysis is a process of analyzing future events by considering alternative possible outcomes. Thus, scenario analysis, which is one of the main forms of projection, does not try to show one exact picture of the future. Instead, it presents several alternative future developments. Likewise, the Looking to the Future insert in Chapter 2, namely Scenarios on The Evolvement of National Cultures holds forth that managers must envision different scenarios on dimensions and dynamics of national cultures. Doing so prepares, does the reasoning, helps international managers improve the knowledge, skills, abilities needed to deal with ongoing cultural changes that influence the context of national markets, As noted in the Scenarios on The Evolvement of National Cultures, we focus our attention on four possibilities. Scenario 1: New Hybrid Cultures Will Develop and Personal Horizons Will Broaden Scenario 2: Although the Outward Expressions of National Culture Will…
Starts With a Bang, Ends With a Whimper A faculty member, Kim Green from the Management Department, was asked to chair a major university committee to plan the mission of the university for the next 20 years. Three other senior faculty and seven administrators from across the campus were also asked to serve on this committee. The president of the university, Dr. Sulgrave, gave the commit- tee its charge: What should Northcoast University be like in the year 2020? Dr. Sulgrave told the committee that the work of this task force was of utmost importance to the future of the university, and the charge of this committee should take precedence over all other matters. The task force was allowed to meet in the president’s conference room and use the president’s secretary. The report of the committee was due in 2 months. The task force members felt very good about being selected for such an important team. The team met on a weekly basis for about 2 hours each time. At first, the members were…
a) Explain with examples the differences between the following pairs of terminologies in project risk management:i.Proximity and Dormancy of a Riskii.Stakeholder Risk Threshold and Toleranceiii. iv.Variability Risk and Ambiguity RiskQualitative Risk Analysis and Quantitative Risk Analysis Risk Review and Risk Audit.b) During the execution of a project, a risk is identified by a team member. This newly identified risk is currently not in the risk register. As a project manager, list and briefly explain the steps you will take to manage this risk.c) As a project manager, you will be required to implement risk response plans for your projects. List and explain any five (5) typical outputs of this process.
A recent IBM research of 585 mobile application developers and managers revealed that just one-third of projects met their budget, schedule, and objectives. What are the risks, therefore, for companies like FIMC that rush to market with innovative mobile applications?
Management Firm is a consulting company that specializes in the development of decision support systems. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (A) Based solely on the critical path, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.) (b) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)
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b) - Draw the Activity-on-Node (AON) diagram using the following representation for every node: Activity Expected Description Time ES EF LS LF Slack