1. Your company has just received an order from a good customer for a specially designedelectric motor. The contract states that, starting on the 13th day from now, your firm willexperience a penalty of $100 per day until the job is completed. Indirect project costsamount to $200 per day. The data on direct costs and activity precedence relationshipsare given in Table below.Table 1: ELECTRIC MOTOR PROJECT DATANormal TimeImmediateActivity(days)Normal Cost ($)Crash Time (days) Crash Cost ($) Predecessor(s)A41,00031,300None71,40042,000NoneC2,00042,700None6.1,2001,400AE390021,100BF112,5003,750C480031,450D, E33001500F, Ga. Draw the project network diagram.b. What completion date would you recommend?

Answered: a. Draw the project network diagram. b.…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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You are the manager of a project to improve a billing process at your firm. The table below contains the data you will need to conduct a cost analysis of the project. Indirect costs are $1,800 per week, and penalty costs are $800 per week after week 12. Activity A BCDEF Immediate Predecessor(s) - A B B, C Normal Time (weeks) Crash Time (weeks) 4 1 3 1 3 6 6 5 1 6 7 Normal Cost Crash Cost ($) ($) 5,000 8,500 7,500 9,500 4,000 4,000 6,500 12,500 3,500 7,000 4,000 7,000 a. What is the minimum-cost schedule for this project? The minimum-cost schedule is weeks. (Enter your response as an integer.) b. What is the difference in total project costs between the earliest completion time of the project using "normal" times and the minimum-cost schedule you derived in part (a)? The minimum-cost schedule costs $ less than using the "normal" times. (Enter your response as an integer.)
Justify the usage of earned value management (EVM) to control costs and monitor project success, and hypothesize on why it is not utilized more often. What are some broad guidelines for determining if a cost variation, a schedule variance, a cost performance index, or a schedule performance index is positive or negative?
Jabez Contractors installs network routers. Using the CPM method and in reference to the table provided comment on the expected completion time of the projectand identify the activities that neeD to be prioritised by the project manager. (Nodiagram is required) TABLE- PROJECT INSTALLATION Activity Predecessor optimistic Most Likely Pessismistic Estimated time A - 4 7 10 7 B - 2 9 10 8 C A,B 2 5 8 5 D C 16 19 28 20 E C 6 9 24 11 F E 1 7 13 7 G C 4 10 28 12 H D,F 2 5 14 6 I G 5 8 17 9 J H,I 2 5 8 5
(c) Illustrate with suitable examples, the COCOMO I and II model of project management.
Costs for a project are $12,000 per week for as long as the project lasts. The project manager has supplied the cost and time information shown. Use the information to a. Determine an optimum crashing plan. Crashing Potential (weeks) Cost per Week Activity to Crash a 3 $11,000 b 3 3,000 first week, $4,000 others 2 6,000 d. 1 1,000 e 3 6,000 f 1 2,000 14 weeks 10 weeks a b 13 weeks 6 weeks d 15 weeks 8 weeks f e
scenarios of a project activities (tables given below) and their required times to be completed in addition to their predecessors for developing a Website' : Activity Description Duration (days) Preceding Activities A Determine user needs 8 Review s/w and languages Purchase software 10 Design format and style 10 E Write programs A F Review outcome product with user 12 G Make revisions 4 C H Select server site E I Install on server 14 D, F Test G, H, I 5. Calculate the slack time of the non-critical path activities 6. Identify the critical path (highlight critical path activities) 7. what would happen if activity D revised to take 14 instead of 10 days?
The expected times and variances for the project activities are given below, critical path is A-D-F-H. What is the probability of the completing the project in 29 periods? ID Description A B C D E LL G H Pilot production Select channels of distribution Develop program Test market Patent Full production Ad promotion Release 40% 50% 70% 60% Predecessor None None None A A D B.E.F.G 6 7 4 4 10 16 3 2 Variance [(b-a)/6]2 3 4 2 2 5 10 2 1
N5 Explain some of the basic principles of cost management, such as profits, life cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves. Why is defining activities a process of project time management instead of project scope management?
scenarios of a project activities (tables given below) and their required times to be completed in addition to their predecessors for developing a Website' : Activity Description Duration (days) Preceding Activities A Determine user needs 8 Review s/w and languages Purchase software 10 Design format and style 10 E Write programs A F Review outcome product with user 12 G Make revisions 4 C H Select server site E I Install on server 14 D, F Test G, H, I 3. Highlight the total time to complete the project (days) 4. Calculate the late finishing time (backwards calculations)
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A successful project need a project management plan. How to ensure this statement. You may have point from the financial management control. Justify its strengths and its weaknesses

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a. Draw the project network diagram. b. What completion date would you recommend?