
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Implementation of projects without a strong priority system linked to strategy creates
problems. Explain how project portfolio system can go a long way to reduce, or even
eliminate the impact of these problems?
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- Office Automation Inc., developed a proposal for implementing a software system that will standardize the accounts payable function by automatically issuing an electronic payment upon receipt of the vendor invoice. Contained in the proposal is a list of activities that must be accomplished to complete the project. The following table contains relevant information about the activities. Time (weeks) Cost ($1,000s) Activity Description ImmediatePredecessor Normal Crash Normal Crash A Plan needs 10 8 30 70 B Order equipment A 8 6 120 150 C Install equipment B 10 7 100 160 D Set up training lab A 7 6 40 50 E Conduct training course D 10 8 50 75 F Test system C, E 3 3 60 (a) Develop a project network. A project network with 8 activities and 8 directed arcs is shown. Activity Start is connected to activity A. Activity A is connected to activity B and to activity C. Activity B is connected to activity D. Activity C is connected to activity E. Activity D is…arrow_forwardJoe and Noël have just gotten engaged. Seeing as they are both business students, they thought that they’d try to plan out their wedding preparation as a project. Here’s the WBS they’ve determined is necessary for a simple but elegant wedding. Assume all durations are deterministic. Although perhaps not realistic to real wedding planning, use the standard calendar in ProjectLibre (use default working days in software). Based on the project you created, answer the following questions. Please note that each question is independent and not built upon each other. a) If Joe and Noël start wedding planning on January 1, 2023, when is the wedding day? b) What is the critical path? List all critical tasks in chronological order. c) Will the critical path change if Noël decides she needs two extra weeks for the Bridal Diet? If yes, what is the new critical path and when should the wedding be held? d) Assume that band auditions take twice as long as expected. Does this affect the…arrow_forwardYou may need to use the appropriate technology to answer this question. Due to population growth in the area, the new Liberty High School has just opened in a local school district. The athletic director at Liberty High is planning the launch of the school's track and field team. The first team practice is scheduled for April 1. The activities, their immediate predecessors, and the activity time estimates (in weeks) are listed in the following table. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Meet with board 1 1 2 B Hire coaches A 4 6 8 C Conduct fundraiser A 2 4 6 D Announce program B, C 1 2 3 E Meet with coaches B 2 3 4 F Order team equipment A 1 2 3 G Register athletes D 1 2 3 H Reserve buses for meets G 1 2 3 I Plan first practice E, H, F 1 1 1 (a) Draw a project network. A project network with 11 activities and 13 directed arcs is shown. Activity Start is connected to activity A. Activity A…arrow_forward
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- During the planning phase, the team is fully engaged in the development of scope of work, design criteria, key deliverables, execution strategy, project timeline, cost estimates and resource planning, however often there are important areas that could be overlooked due to time constraints or lack of focus. What are the critical aspects to oversee?arrow_forwardAll projects utilise several different resources to successfully complete the project successfully tothe customer or sponsors requirements.Resources add another dimension to planning and scheduling. This includes people, materials,equipment, tool, facilities and so forth.The quantity and availability of these resources are often limited and cause project to face risks orconstraints which needs to be managed carefully.With the above statements , differentiate between Resource smoothing and resourcelimited scheduling then to substantiate your answer by providing at least two (2) situations whereresource limited scheduling may occurarrow_forwardDescribe the role of a business analyst in the requirement analysis process and the skills and techniques they employ to ensure project success.arrow_forward
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