What is the minimum cost of crashing the following project that Roger Solano manages at Slippery Rock University by 4 days?CrashNormalActivity Time (days) Time (days)NormalCostA65$800B75$200с43$600D52$750E64$1,200The total cost of crashing the project by 4 days is $ActivityABсDETotal Costwith Crashing Immediate Predecessor(s)By how many days should each activity be crashed to reduce the project completion time by 4 days? Fill in the table below. (Enter your responses as whole numbers.)Each Activity Should beReduced BY(days)(Enter your response as a whole number.)$1,100$500$650$1,500$1,650☐☐☐☐☐Aс

Crashing is a concept in the critical path method according to which, the duration of the project…

Answered: By how many days should each activity…

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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c. What is the expected project completion time? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Project completion time d. What is the probability of completing this project within 16 days? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Do not round intermediate calculations. Round "2" value to 2 decimal places and final answer to 4 decimal places.) Probability 10 00 days 09994
Godo Q- Joe owns a business with two separate departments. Department A produces $100,000 of income and Department B incurs a $60,000 loss. Joe participates for 550 hours in Department A and 100 hours in Department B. He has full-time employees in both departments. and why? a. If Joe elects to treat both departments as a single activity, he cannot offset the $60,000 loss against the $100,000 income. b. Joe may not treat Department A and Department B as separate activities because they are parts of one business. c. If Joe elects to treat the two departments as separate activities, he can offset the $60,000 loss against the $100,000 income. d. If Joe elects to treat both departments as a single activity, he can offset the $60,000 loss against the $100,000 income. e. None of the above.
Create a risk matrix for this project:Event Cost ($000) ProbabilityEquipment breakdown 40 .20Vendor is late with key segment 200 .60Subcontractor has labor issues 140 .30Weather problems 15 UnknownFunding delays 50 .40 to .60Testing delays 20 .40Explain your reasoning for your placement of the events Weather problems and Funding delays.
Sarah Chang is the owner of a small electronics company. In six months, a proposal is due for an electronic timing system for the next Olympic Games. For several years, Chang’s company has been developing a new microprocessor, a critical component in a timing system that would be superior to any product currently on the market. However, progress in research and development has been slow, and Chang is unsure whether her staff can produce the microprocessor in time. If they succeed in developing the microprocessor (probability p1), there is an excellent chance (probability p2) that Chang’s company will win the $1 million Olympic contract. If they do not, there is a small chance (probability p3) that she will still be able to win the same contract with an alternative but inferior timing system that has already been developed. If she continues the project, Chang must invest $200,000 in research and development. In addition, making a proposal (which she will decide whether to do after…
Sarah Chang is the owner of a small electronics company. In six months, a proposal is due for an electronic timing system for the next Olympic Games. For several years, Chang’s company has been developing a new microprocessor, a critical component in a timing system that would be superior to any product currently on the market. However, progress in research and development has been slow, and Chang is unsure whether her staff can produce the microprocessor in time. If they succeed in developing the microprocessor (probability p1), there is an excellent chance (probability p2) that Chang’s company will win the $1 million Olympic contract. If they do not, there is a small chance (probability p3) that she will still be able to win the same contract with an alternative but inferior timing system that has already been developed. If she continues the project, Chang must invest $200,000 in research and development. In addition, making a proposal (which she will decide whether to do after…
2-41 The time to complete a construction project is normally distributed with a mean of 60 weeks and a standard deviation of 4 weeks. a. What is the probability the project will be finished in 62 weeks or less? b. What is the probability the project will be finished in 66 weeks or less? c. What is the probability the project will take longer than 65 weeks?
whixh of the following least denotes the control of risks: a) They are normally associated with project management b) They are extremely difficult to quantify c) They are associated with know and logical events d) Are associated with unkown and unexpected events
The following precedence diagram reflects three time estimates for each activity. Determine: Use Table B1 and Table B2. 9-10-12 3 8 5-7-10 8-10-14 11-12-13 6 11 14-18-26 10.5-13-15.5 10 8-8-8 1 5-6-7 2 4 13-13-13 7 7-10-12 a. The expected completion time for each path and its variance. (Round intermediate calculations to 4 decimal places and final answers to 2 decimal places.) Path Mean Var. Std. Dev. 1-2-3-8-11 37.33 1-2-4-6-11 43.00 5.11 1-2-4-7-11 0.81 1-2-5-9-10-11 46.83 1.25 9-9-9 10-11-12 10-12-14
Topic: ProbabilityGoal: In your business planning, you will employ mathematics probability to increase your chances of success.You play the role of a tiny business owner who wants to expand into a much larger enterprise. You must write a written report and deliver it to the group on the most likely outcome(s) of the business you wish to start.The target audience is a group of small company owners who could be interested in partnering with you. Product: A written report on the business's likely results that will be given to the group. Success Criteria: The written report that will be provided must be... - Represents genuine business problems or patterns. - Persuasive, based on probability mathematics.
(3) A project was planned using PERT. Its expected completion time was determined to be 85 days. The variance of the critical path is 49. What is the probability the project will be completed within 75 days (5 decimal places)? Let X = the project completion time. P(X Please show how you use the Normal Curve Table to obtain your answer in the space below. (4) Perform a project management analysis for the data given below to determine ES, EF, LS, LF, and slack for each activity, the total project completion time, and the critical path. Predecessors Activity A B с D D Time (weeks) 13 12 10 9 E F G H - A A Activity E C, E D, F (a) Draw a network with 1, ES, EF, LS, and LF (follow the same format as Figure 11.5 on p.394). F G H (b) Complete the following table (similar in format to Table 11.3 on p.396). Activity Time (weeks) ES EF LS A B с (c) Identify the critical path(s): (d) Based on your analysis, the project completion time is: Time (weeks) Predecessors B B 11 13 17 14 LF Slack…
8. Which of the following is NOT likely to occur after crashing a project activity? A. More risk associated with the project B. Less risk associated with the project
MODELLING AND SIMULATION 1. What is the best way to plan a simulation project? Why? 2. Does project management help you to simulate a model? In what way/s? 3. Car dealers have realized how profitable it can be to sell automobiles by using the Web. Pretend that you work for a local car dealership that is part of a large chain of car industry. Create a project management process (include the sub-processes) that you will implement in developing such web-based system.

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