Concept explainers
Recently, you were assigned to manage a project to remodel the seminar room for your company. You have constructed a network diagram depicting the various activities in the project (Figure 7.13). 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.
- What is the expected completion time of the project?
- What is the probability of completing the project in 21 days or less?
- What is the probability of completing the project in 17 days or less?
Trending nowThis is a popular solution!
Chapter 7 Solutions
Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
Additional Business Textbook Solutions
Principles of Operations Management: Sustainability and Supply Chain Management (10th Edition)
Business in Action (8th Edition)
OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
Business in Action
Operations Management
Operations Management, Binder Ready Version: An Integrated Approach
- Assume you are the project manager and based on your customer’s requirements you have determined there are four main tasks in a Dream Backyard project. Each phase has been assigned a TBC. Specifically, the customer wants a pool and spa built (Task 1 - $40,000); all plumbing, electrical, and mechanical installed (Task 2 - $23,000); a pool deck with planters and a raised fire pit (Task 3 - $15,000); and landscaping and clean up (Task 4 - $6,000). You estimate this will take 5 weeks to complete. The costs are budgeted as follows: Budgeted Per Week (in 000’s) TBC 1 2 3 4 5 Task 1 40 10 15 10 5 Task 2 23 6 10 5 2 Task 3 15 9 4 2 Task 4 6 3 3 What is the total cumulative TBC? What is TBC at the end of week 4? Assume 4 weeks have passed and these are the actual costs per week: Actual Costs Per Week (in 000’s) 1 2 3 4 Task 1 15 21 12 6…arrow_forwardSuppose you are the project manager for the following project: First, draw a network diagram for the project. Determine the critical path and slack times for all of the tasks. This completes your plan for the project schedule. During project execution, you become aware of the need to change the duration of Task 4 to five days. Meanwhile, Task 3 has been finished one day early, so it only took one day to do. What, if any, effects do these changes have on your project? What would have happened if you had not been monitoring the status of the project?arrow_forward. The key objectives of a project are given by:a. time, scope, and budget.b. cost, quality, and location.c. customers, suppliers, and employees.d. efficiency, effectiveness, and success.arrow_forward
- In Project Management, what is the executive summary when renovating a kitchen?arrow_forwardYou may need to use the appropriate technology to answer this question. Use the following network with activities and times estimated in days to answer the questions. A project network with 13 activities and 17 directed arcs is shown. Activity Start is connected to activity A, to activity B, and to activity C. Activity A is connected to activity D, to activity E, and to activity F. Activity B is connected to activity F. Activity C is connected to activity G and to activity H. Activity D is connected to activity K. Activity E is connected to activity I. Activity F is connected to activity I. Activity G is connected to activity I. Activity H is connected to activity J. Activity I is connected to activity K. Activity J is connected to activity K. Activity K is connected to activity Finish. Activity Finish has no arcs directed to other activities. Activity Optimistic Most Probable Pessimistic A 2 5 6 B 1 3 7 C 5 6 9 D 5 12 14 E 3 4 5 F 9 10 13 G 4 6 8 H 3 6 8 I 5 7 12 J 11 12 13 K 1 3 4…arrow_forwardRecently, you were assigned to manage a project to remodelthe seminar room for your company. You have constructed anetwork diagram depicting the various activities in the project(Figure 7.13). In addition, you have asked your team to estimatethe amount of time that they would expect each of the activitiesto take. Their responses are shown in the following table: a. What is the expected completion time of the project?b. What is the probability of completing the project in 21 days?c. What is the probability of completing the project in 17 days?arrow_forward
- Please review this Gantt chart it should consist a minimum of 10 tasks Create a partial project schedule using a Gantt Chart (with a minimum of 10 tasks). Can you do it in excel format please Part 1 To prepare a Gantt chart for the FAO-funded Aquaponics Project in Barbados, we need to break down the project into individual tasks and then arrange them in a logical order based on their dependencies. Here is a table format Gantt chart for the project: Task Start Date End Date Duration Dependencies Project planning and initiation 01/01/2021 01/15/2021 15 days - Site selection and preparation 01/16/2021 02/15/2021 30 days Project planning and initiation Design and construction of facility 02/16/2021 04/15/2021 60 days Site selection and preparation Procurement of equipment and tools 04/16/2021 05/15/2021 30 days Design and construction of facility Training program development 05/16/2021 06/15/2021 30 days Procurement of equipment and tools Training program…arrow_forwardConsider the following network for conducting a two-week (10 working days) computer training class: please refer to the picture I uploaded Find the crash cost per day. Which activities should be crashed to meet a project deadline of 10 days with a minimum cost? Assume partial crashing. Find the new cost. Is partial crashing an appropriate assumption in this kind of project?arrow_forwardA project has 7 activities P, Q, R, S, T, U, and V. Three time estimates (optimistic, most-likely, pessimistic) are used for each activity. Write down your answers to all parts of the question in the box given below. Give your answer to 3 decimal places. (Note (a) has of 2 parts and (b) has of 3 parts) For activity Q, these time estimates are as follows: optimistic time = 9, most-likely time = 14, pessimistic time = 20. Write down the average activity time for Q the variance of activity time for Q. The critical path of this project has a mean project time of 44 days and a standard deviation of 5 days. Assume project completion time is normally distributed. Find the probability that the project will be completed in 47 days. Find the probability that the project will take more than 40 days. We want to set a deadline for this project completion. If the probability of meeting this set deadline is 0.88, what will be the deadline for this project.arrow_forward
- The managers at AllBirds have operations in multiple countries, which operate on different financial management systems. This has been increasingly challenging for the company, so the Justin is looking to consolidate and integrate the financial management across all locations into a single software system that can operate across the national boundaries. This is a new, complicated and lengthy project, so Justin has identified a set of activity categories that will need to be carefully managed, as noted in the table. What is the probability that project can be completed two months early?arrow_forwardstudents are required to select and study a real project (a case) that they have worked on or knowabout; and develop an analytical report of the project after careful examination of the managementprocesses, project documents, and other project artifacts.arrow_forwardA project has the activity duration and cost information indicated in the table where all times are in weeks. What is the total cost for completing this project in 50 days? Activity Predecessor Normal Time Normal Cost Crash Time Crash Cost A -- 8 $12,000 5 $21,000 B A 12 $20,000 9 $30,000 C A 15 $24,000 10 $60,000 D B 3 $10,000 2 $15,000 E C 9 $17,000 6 $34,000 F E 7 $5,000 6 $6,000 G D 8 $14,000 6 $20,000 H A 12 $22,000 10 $30,000 I H 6 $50,000 5 $55,000 J F, G, I 11 $33,000 9 $50,000arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.