The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is var(x) = 1.22 The project cost involves A fixed cost (in thousands of dollars) of FC = $83.783 A variable cost for each day taken to complete the project ($000) VC = $9.774 14 The expected value of the project cost is $_______ thousand. a 109.364 b 112.746 c 116.233 d 119.828

The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is var(x) = 1.22 The project cost involves A fixed cost (in thousands of dollars) of FC = $83.783 A variable cost for each day taken to complete the project ($000) VC = $9.774 14 The expected value of the project cost is $_______ thousand. a 109.364 b 112.746 c 116.233 d 119.828

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 21P

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The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is var(x) = 1.22 The project cost involves A fixed cost (in thousands of dollars) of FC = $83.783 A variable cost for each day taken to complete the project ($000) VC = $9.774 15 The variance of project cost is ________. a 116.548 b 113.153 c 109.858 d 106.658
Management Firm is a consulting company that specializes in the development of decision support systems. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (A) Based solely on the critical path, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.) (b) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)
A project that you are managing is into six months of its accomplishment andthe planned duration is also six months. You are now reviewing the projectstatus. The actual cost of Activity A and B are RM 200,000 and RM 100,000respectively. The planned value for Activity A and B are RM 180,000 and RM80,000 respectively. The Activity A is 100% complete whereas Activity B isonly 75% complete. (a) Formulate the problem to determine whether the project is on-time and on-budget after six months using the Earned Value Analysis (EVA) method. (b) Generate the expected “cost at complete” and “time at complete” to finishthe project at this pace. (c) Present two initiatives to be undertaken by the project manager to improvethe situation based on Q4(b).
Calculate the cost budget for the project below with a contingency reserve of 20% is applied to the cost estimate and 4% management reserve is applied to the cost baseline. Control Account Cost /$ Project Management 1,000,000 Design 4,000,000 Execution 10,200,000 Certification 600,000 Marketing 4,500,000 Launch 320,000 You have a budget at completion of $2500. You had planned to have $2200 worth of work accomplished by now. However, you have just found out that you are only 60% complete with the task. What is your SV? A project was budgeted at $1,000,000. Meanwhile, the project is executed, and the following current figures have been assessed: PV: $500,000 EV: $450, 000 AC: $550, 000 Assuming that the cost variance was…
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.
Constraints in project management are some important factors that everyone must work within to achieve the project goals and unfortunately, these are unavoidable. As a Project Manager, being aware of the limitations is essential in directing project path and ultimately reaching success. That is why, by knowing project constraints is such an important task to be performed at the planning stage. There are 6 Project Constraints that we need to know. Explain the following constraints in your own words and make sure to identify 2 applications / connections / linkages of such constraint with your WBS. Write your answer on the space provided below.
You are the project manager of the BTU AVIC project in Bolgatanga. As a result of the ongoing pandemic, you are responsible to ensure the project does not overly delay among other objectives. Required:a. Discuss five strategies for reducing the critical path of the BTU AVIC project.b. Explain five ways you can resolve the problem of resource allocation on the project. c. Using the Four-Stage Process of risk management discuss how risks could be managed on the ongoing BTU AVIC project. Identify three potential categories of team conflicts and how you will resolve such conflicts
Bruno has a capital investment project that could start immediately. The project will require a machine costing $2.4 million. The total discounted value now of the cash inflows from the project will be either $2.6 million or $1.9 million with equal probability. The risk-free rate is 3%. Instead of starting immediately, the project could be delayed until one year from now to gain more market information. Its total discounted cash inflows at that time will be known as either $2.6 million or $1.9 million, with certainty. a) What is the present value of the option to delay? b) The supplier of the machine has offered to deliver it (if required) in one year's time at a price of only $2 million if Bruno pays a non-refundable deposit now. What is the maximum the firm should pay as a deposit now? What type of real option does this represent for Bruno? Identify the specific components of the option contract.
Development of Version 2.0 of a particularaccounting software product is being considered by JoseNoguera’s technology firm in Baton Rouge. The activitiesnecessary for the completion of this project are listed in thefollowing table: a) What is the project completion date?b) What is the total cost required for completing this projecton normal time?c) If you wish to reduce the time required to complete thisproject by 1 week, which activity should be crashed, andhow much will this increase the total cost?d) What is the maximum time that can be crashed? Howmuch would costs increase?
The four types of project closures are: Group of answer choices a. finite, infinite, continuous, discrete b. crashed, finished, successful, unsuccessful c. none of these d. normal, premature, perpetual, failed
Limbo Technologies has embarked on another project that has an estimated completion time of 40 weeks and a standard deviation of 5 weeks. It is estimated that the project completion time is normally distributed. i)What is the probability of finishing the project in 38 weeks or less? ii)The due date for the project is set so that there is a 90% chance that it will finish by this date. What is the due duration? ACTIVITY PREDECESSOR NORMAL TIME (WEEKS) CRASH TIME (WEEKS) NORMAL COST ($) CRASH COST ($) A - 4 2 1000 1600 B - 6 3 3000 3500 C A 3 1 2500 3000 D A,B 6 5 1500 1850 E D 4 2 3500 4200 F C 4 3 2250 3000 G D 3 2 1900 2500 H F,G,E 2 1 400 500
I only need help with D,E,F ONLY PLEASE!! 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…