Concept explainers
A
Interpretation: The critical path and expected time to complete the project are to be determined.
Concept Introduction: Critical path refers to set of network activities sequence in the project needed to operate the project in least possible time.
B
Interpretation: Total project cost from day 1 till the completion of the project needs to be plotted. Implications of the time differential on the cash flows and project
Concept Introduction: The earliest start times refers to earliest time the activity of a scheduled project may begin equalizing earliest times of completing all its predecessor activities and latest start times used in PERT analysis describing a portion of the project must be started so that project finish time cannot be delayed.
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Operations Management: Processes And Supply Chains (12th Global Edition) - Does Not Include Mylab Operations Management
- Using your results from Problem 6,(a) Calculate the probability that the project will be completedin 38 weeks.(b) Calculate the probability that the project will be completedin 42 weeksarrow_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_forwardA project is scheduled to complete in six months duration. There are two activities in the project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 is SAR 200,000. The planned value of these activities is SAR 280,000 and 150,000 respectively. On reviewing, the current project status is Activity 1 is 100% completed and Activity 2 is only 75% completed. (i) Perform the earned value calculations of the above project scenario and fill the given table. (ii) What do you infer about the project schedule and cost based on your calculations? Earned Value Planned Value Actual Cost Cost Variance Activity Scheduled Variance Cost performance Index Schedule performance Index Month 1arrow_forward
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- Recently, you were assigned to manage a project for your company. You have constructed a network diagram depicting the various activities in the project (shown below to the right). In addition, you have asked your team to estimate the amount of time that they would expect each of the activities to take. Their responses are shown in the following table: example Activity A B C D Get more help. E Time Estimates (days) Most Likely Optimistic 4 5 4 1 3 8 8 5 4 8 Pessimistic 12 12 7 5 a. What is the expected completion time of the project? The expected completion time is 19 days. (Enter your response as an integer.) b. What is the probability of completing the project in 21 days? Refer to the standard normal table. The probability of completing the project in 21 days is 9 MacBook Pro Start (Enter your response rounded to four decimal places.) 0 Finish Q Q Clear all Check answerarrow_forwardYou are in charge of a project at the local community center. The center needs to remodel one ofthe rooms in time for the start of a new program. Delays in the project mean that the center mustrent other space at a nearby church at additional cost. Time and cost data for your project arecontained in below table. Your interest is in minimizing the cost of the project to the communitycenter.Using the normal times for each activity, what is the earliest date you can complete the project?Suppose the variable overhead costs are $50 per day for your project. Also, suppose that thecenter must pay $40 per day for a temporary room on day 15 or beyond. Find the minimum-costproject schedule using below format.The AON diagram for the community center project is below. Crash 4 times and find total cost.arrow_forwardThe network diagram of a project with four activities is presented below. Start A B C D The estimated optimistic, most likely, and pessimistic times of each task are given in the table below. The expected time and variance of acitivities A are also given in the table. The expected time and variance of activity C and D are irrelevant in this problem. So they can be ignored. optimistic 14 4 5 5 most likely B 18 10 7 10 End pessimistic 23 18 13 12 Expected time 18.167 XX mm variance 81/36 [Three decimal places for all answers) (1) What is the expected task time of activity B? (2) What is the variance of the task time for activity B (3) What is the expected length of path A-B? (2) What is the standard deviation of the length of path A-B? yy 22arrow_forward
- The ABC Manufacturing Company has set up a weighted scoring matrix for evaluating some potential projects. Following are five projects under consideration. Using the scoring matrix below which project would you rate highest? Lowest? If the weight for “Sponsor Support” is changed from 2.0 to 5.0, will the project selection change? What are the three highest-weighted project scores with this new weight? Why is it important that the weights mirror critical strategic factors? Project Screening Matrix Criteria Weight Project 1 Project 2 Project 3 Project 4 Project 5 Sponsor Support 2 9 3 6 1 3 Strategic Alliance 5 5 7 8 0 10 Urgency 4 2 2 2 5 10 Fills a market gap 3 0 0 3 10 1 Sales 3 2 5 6 6 8 Competition 1 5 1 8 9 0arrow_forwardAlthough project costs are generally estimated on the initial assumption that there will be no modifications in design that would necessitate changes in the physical work or relative changes in domestic or international prices, sound project planning requires that provisions called contingency allowances be made in advance for possible adverse changes in physical conditions or prices that would add to the baseline costs. Discus the two categories of contingency allowances provided for in project planning.arrow_forwardFROM THE TEXT (Project Management): The project team decides the work that will be self-performed—performed by members of the project team—and the work that will be outsourced to others. The procurement strategy focuses on the work that will be outsourced—performed by outsiders. Luu, Ng, and Chen (Luu, Ng, & Chen, 2003) studied project procurement selection priorities and identified budget and schedule as the most important considerations in the decision to outsource activities. This study of construction projects also identified other items that project managers must consider in developing a procurement strategy, including quality, risk, complexity, and flexibility. Some outsourcing decisions are easy. Outsourcing Steel and Concrete in New York A construction company has a contract to build a large building in downtown New York. Most, if not all, the construction materials, such as steel and concrete, will be purchased from companies that specialize in steel and concrete.…arrow_forward
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