Fowle Marketing Research, Inc. is faced with the problem of assigning three available project leaders (agents) to each of three new research studies (tasks). Fowle’s management realizes, however, that the time required to complete each study will depend on the experience and ability of the project leader assigned to the study. Since the three studies have been judged to have approximately the same priority, the company would like to determine the assignments that will minimize the total number of days required to complete all three. If a project leader is to be assigned to one and only one client, what assignments should be made (optimal solutions)? How many days are required (objective function value).With three project leaders and three clients, there are total of nine possible assignment alternatives. The alternatives and the estimated project completion times in days are summarized in Table Client Project Leader 1 2 3 1 Terry 9 16 5 2 Carle 10 15 6 3 McClymonds 6 14 10 a) Estimated Project Completion Times (Days) for the Fowle Assignment Problem. b) Formulate and solve the problem, show your linear programming model (submit Excel files).
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Fowle
Client
Project Leader 1 2 3
1 Terry 9 16 5
2 Carle 10 15 6
3 McClymonds 6 14 10
a) Estimated Project Completion Times (Days) for the Fowle Assignment Problem.
b) Formulate and solve the problem, show your linear programming model (submit Excel files).
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