The Scott Corey accounting firm is installing a new computer system. Several things must be done to make sure the system works properly before all the accounts are put into the new system. The following table provides information about this project. How long will it take to install the system? What is the critical path? Activity Immediate Predecessor(s) Time (weeks) A 3 B 4 C A 6 D B 3 E A 5 F C 2 G D,E 5 H F,G 5 The managing partner of the Scott Corey accounting firm has decided that the system must be up and running in 16 weeks. Consequently, information about crashing the project was put together and is shown in the following table: Activity Immediate Predecessor(s) Normal Time (weeks) Crash Time (weeks) Normal Cost ($) Crash Cost ($) A 3 2 8,000 9,300 B 4 3 9,000 10,000 C A 6 4 12,000 15,000 D B 3 1 15,000 15,500 E A 5 3 5,000 8,700 F C 2 1 7,500 9,000 G D,E 5 3 9,000 11,400 H F,G 5 3 5,000 8,000 If the project is to be finished in 16 weeks, which activity or activities should be crashed to do this at the least additional cost?What is the total cost of this? List all the paths in this network.After the crashing in part (a) has been done, what is the time required for each path?If the project completion time must be reduced another week so that the total time is 15 weeks, which activity or activities should be crashed? Solve this by inspection. Note that it is sometimes better to crash an activity that is not the least cost for crashing if it is on several paths rather than to crash several activities on separate paths when there is more than one critical path.
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.
The Scott Corey accounting firm is installing a new computer system. Several things must be done to make sure the system works properly before all the accounts are put into the new system. The following table provides information about this project. How long will it take to install the system? What is the critical path?
|
Activity |
Immediate Predecessor(s) |
Time (weeks) |
|
A |
3 |
|
|
B |
4 |
|
|
C |
A |
6 |
|
D |
B |
3 |
|
E |
A |
5 |
|
F |
C |
2 |
|
G |
D,E |
5 |
|
H |
F,G |
5 |
The managing partner of the Scott Corey accounting firm has decided that the system must be up and running in 16 weeks. Consequently, information about crashing the project was put together and is shown in the following table:
|
Activity |
Immediate Predecessor(s) |
Normal Time (weeks) |
Crash Time (weeks) |
Normal Cost ($) |
Crash Cost ($) |
|
A |
3 |
2 |
8,000 |
9,300 |
|
|
B |
4 |
3 |
9,000 |
10,000 |
|
|
C |
A |
6 |
4 |
12,000 |
15,000 |
|
D |
B |
3 |
1 |
15,000 |
15,500 |
|
E |
A |
5 |
3 |
5,000 |
8,700 |
|
F |
C |
2 |
1 |
7,500 |
9,000 |
|
G |
D,E |
5 |
3 |
9,000 |
11,400 |
|
H |
F,G |
5 |
3 |
5,000 |
8,000 |
If the project is to be finished in 16 weeks, which activity or activities should be crashed to do this at the least additional cost?What is the total cost of this?
List all the paths in this network.After the crashing in part (a) has been done, what is the time required for each path?If the project completion time must be reduced another week so that the total time is 15 weeks, which activity or activities should be crashed?
Solve this by inspection. Note that it is sometimes better to crash an activity that is not the least cost for crashing if it is on several paths rather than to crash several activities on separate paths when there is more than one critical path.
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