Please can you show me how this can be solved? Problem 4Good Homes Construction Company is about to begin the construction of a large new home. The company'sPresident, Michael Dean, is currently planning the schedule for this project. Michael has identified the fivemajor activities (labeled A, B, . . ., E) that will need to be performed according to the following projectnetwork.STARTActivityABсDEAb)NormalTimeHe also has gathered the following data about the normal point and crash point for each of these activities.3 weeks4 weeksB5 weeks3 weeks4 weeksCrashTime2 weeks3 weeks2 weeks1 week2 weeksNormalCostD$54,000$62,000$66,000$40,000$75,000ECrashCost$60,000$65,000FINISH$70,000$43,000$80,000These costs reflect the company's direct costs for the material, equipment, and direct labor required toperform the activities. In addition, the company incurs indirect project costs such as supervision and othercustomary overhead costs, interest charges for capital tied up, and so forth. Michael estimates that theseindirect costs run $5,000 per week. He wants to minimize the overall cost of the project. Therefore, to savesome of these indirect costs, Michael concludes that he should shorten the project by doing some crashing tothe extent that the crashing cost for each additional week saved is less than $5,000.a)To prepare for analyzing the effect of crashing, find the earliest times, latest times, and slack foreach activity when they are done in the normal way. Also, identify the corresponding criticalpath(s) and project duration.Use the linear programming approach to determine which activities should be crashed and byhow much to minimize the overall cost of the project. How much money is saved by doing thiscrashing?

Good Homes Construction Company is about to begin the construction of a large new home. The company's President, Michael Dean, is currently planning the schedule for this project. Michael has identified the five major activities (labeled A, B, ..., E) that will need to be performed according to the following project network.

Good Homes Construction Company is about to begin the construction of a large new home. The company's President, Michael Dean, is currently planning the schedule for this project. Michael has identified the five major activities (labeled A, B, ..., E) that will need to be performed according to the following project network.

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...

See similar textbooks

Similar questions

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 weeks
Dave is the project manager for a construction project that is building agazebo. When the project first started, he met with the stakeholders to definethe scope. The sponsors mentioned that the gazebo is a really important partof their daughter’s wedding ceremony that was planned for 7 months fromthen. In fact, they said that if the gazebo couldn’t be completed in 7 months, itwouldn’t be worth it for them to even start the project. Dave wrote down the7-month deadline to put in his Project Scope Statement. In which section ofthe document did the deadline appear?”A. Project ConstraintsB. Project DeliverablesC. Project ObjectivesD. Project Assumptions Which of the following is a “hygiene factor” under Herzberg’s Motivation-Hygiene Theory?A. Recognition for excellent workB. Self-actualizationC. Clean clothingD. Good relations with coworkers and managers
You 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.
Project Scope Management Khan, (2006) (see below) states that, "Managing the scope of a project is the most important function of a project manager ... Effective scope management of a project also ensures the success of key completion areas, including time, cost, and quality. Project scope management can be further subdivided into its components which include: project initiation, scope planning, scope definition, scope verification, and scope change control." Based on your Integrated Project: Select two of the subdivisions above and discuss the primary issues that could arise from the process. Your response should begin with a definition of the selected subdivision before detailing the selected process
Kimpel Products makes pizza ovens for com-mercial use. James Kimpel, CEO, is contemplating produc-ing smaller ovens for use in high school and college kitchens.The activities necessary to build an experimental model andrelated data are given in the following table: a) What is the project completion date?b) Crash this project to 10 weeks at the least cost.c) Crash this project to 7 weeks (which is the maximum it canbe crashed) at the least cost.
he project charter involves several elements including, the project manager and project title. Use suitable examples to explain any other five elements of the project charter Milestone schedule Key assumptions Constraints Major risks
Problem Statement: Project Control and Monitoring You are working on a manufacturing project having a budget of PKR 3,600,000 and expected time of its completion is one year. There is an ideal condition that your budget and work are evenly spread across the duration of the project that is twelve month. At the end of forth month, the senior management has called a meeting and invited all the stakeholders to brief about the status of the project. You being the PM of this project is giving the presentation to all the attendees and informed that project is on schedule and PKR 1,800,000 have already been spent on the project. Required: Calculate Cost and Schedule Variance What is SPI and CPI of the project? Estimate at completion and Estimated time to complete?
Consider the project described in the table below: Activity Duration A B C D E F G H 9 4 8 8 5 7 4 6 OEST-9 and LCT = 15 OEST=9 and LCT = 13 Immediate Predecessor What is the earliest start time (EST) and latest completion time (LCT) of activity B? OEST=9 and LCT = 20 OEST-9 and LCT-17 - A A A B B,C C,D E,F,G
The project manager of a task force planning the construction of a domed stadium had hopedto be able to complete construction prior to the start of the next college football season. Afterreviewing construction time estimates, it now appears that a certain amount of crashing will beneeded to ensure project completion before the season opener. Given the following time and costestimates, determine a minimum-cost crashing schedule that will shave five weeks off the projectlength. Note: No activity can be crashed more than two weeks.CRASHING COSTS ($000)Activity Immediate Predecessor Normal Time (weeks) First Week Second WeekA — 12 $15 $20B A 14 10 10C — 10 5 5D C 17 20 21E C 18 16 18F C 12 12 15G D 15 24 24H E 8 — —I F 7 30 —J I 12 25 25K B 9 10 10M G 3 — —N H 11 40 —P H, J 8 20 20End K, M, N, P
Mangement Project management is a discipline that involves planning, organizing, and overseeing the execution of a project from initiation to completion. It encompasses defining project goals, outlining tasks, allocating resources, and managing budgets and timelines. A successful project manager must possess strong leadership skills, effective communication, and the ability to mitigate risks and solve problems efficiently. Collaboration among team members is crucial, as is the flexibility to adapt to unexpected challenges that may arise during the project lifecycle. Continuous monitoring and evaluation ensure that the project stays on track, meeting objectives and delivering value to stakeholders. Question: How can project managers encourage effective collaboration and communication among team members to ensure the successful and timely completion of a project?
The company decided that the project in the previous problem had to be expedite in order to optimize (minimize) the project cost. Expediting can be used to trade direct cost for indirect cost, since expediting reduces the indirect cost of the project by a fixed amount per day, while expediting an activity increases its total direct cost. The Accounting Department found that indirect costs amount to $100 per day, while activity direct costs as well as their normal and expedited times are given in the table below. Activity Duration (Days) Expedited Time (Days) Normal Direct Cost ($) Expedited Direct Cost ($) A 32 26 200 500 B 21 20 300 375 C 30 30 200 200 D 45 40 200 800 E 26 20 700 1,360 F 28 24 1,000 1,160 G 20 18 400 550 What is the optimal time to complete the project? What is the optimal project cost?
Traditional projects focus on long-term planning and stability. Laufer, Hoffman, Russel, and Cameron (2015) suggested that project managers also have to deal with the following: a)Events that are big and events that are small b)Events that could have been predicted but were not c)Events that were managed poorly d)Events that could erode the project manager's authority