The management of CDC Construction Pioneers have decided to build 900 new apartments in the Kasoa area due to the influx of immigrant workers into the country. Two Architectural Companies have provided building plans and technical schematics for the project. Management are happy with the proposals of both Standard apartment and Deluxe apartment. After investigating the steps involved in construction, management determined that each apartment complex built will require some resources. Management analysed each of the bids and concluded that if the plans of Standard apartment are built, it requires 0.7 days in foundation works, 0.5 days in the masonry, 1 day in finishing, and 0.1 days in painting works. Deluxe apartment will require 1 day in foundation works, 0.83 days in the masonry, 0.67 days in finishing, and 0.25 days in the painting works. Management estimate that, 630 days for foundation works, 600 days for masonry, 708 days for finishing and 135 days for 11 painting works will be available to build the apartments. The company accountant assigned all relevant variable costs and arrived at a rent that will result in a daily profit contribution of Gh¢ 10 for every Standard apartment and Gh¢ 9 for every Deluxe apartment built. Management wants to know how many Standard apartments and Deluxe apartments to construct a) Express the decision variables for this problem and formulate a linear programming model for this problem
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Question 5
The management of CDC Construction Pioneers have decided to build 900
new apartments in the Kasoa area due to the influx of immigrant workers
into the country. Two Architectural Companies have provided building
plans and technical schematics for the project. Management are happy
with the proposals of both Standard apartment and Deluxe apartment.
After investigating the steps involved in construction, management
determined that each apartment complex built will require some
resources. Management analysed each of the bids and concluded that if
the plans of Standard apartment are built, it requires 0.7 days in
foundation works, 0.5 days in the masonry, 1 day in finishing, and 0.1
days in painting works. Deluxe apartment will require 1 day in foundation
works, 0.83 days in the masonry, 0.67 days in finishing, and 0.25 days in
the painting works. Management estimate that, 630 days for foundation
works, 600 days for masonry, 708 days for finishing and 135 days for
11
painting works will be available to build the apartments. The company
accountant assigned all relevant variable costs and arrived at a rent that
will result in a daily profit contribution of Gh¢ 10 for every Standard
apartment and Gh¢ 9 for every Deluxe apartment built. Management
wants to know how many Standard apartments and Deluxe apartments
to construct
a) Express the decision variables for this problem and formulate a linear
programming model for this problem
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