EBK OM
6th Edition
ISBN: 9781305888210
Author: Collier
Publisher: YUZU
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Chapter 18, Problem 2CQD
Summary Introduction
Interpretation: The best way to crash the project and total cost along with the reasons regarding the way crashing decisions are made.
Concept Introduction:
The critical path is the path which has the sequence of the activities with the maximum duration. Thus, this time will take maximum time to complete project.
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In reference to the attached image:
Determine the best way to crash the project to complete it in 35 weeks with revised activity slack times, critical path(s), and total project costs. Provide reasoning as to how all crashing decisions were made.
Swimming Pool Installation:
You are the project manager working for Mack's Pool Co. Your project consists of installing a new swimming pool at the local country club before Memorial Day weekend (pool opening weekend). You would like to find the minimum cost schedule for your project. There is a $9,000 per week penalty for each week the project is delayed beyond week 9. In addition, your project team determined that indirect costs are $15,000 per week.
ACTIVITY
Immediate Predecessor (s)
NORMAL TIME (NT)
CRASH TIME (CT)
Normal Cost (NC)
Crash Cost (CC)
A
--
2
1
7,000
10,000
B
--
2
2
3,000
3,000
C
A
3
1
12,000
40,000
D
B
3
2
12,000
28,000
E
C
1
1
8,000
8,000
F
D, E
5
3
5,000
15,000
G
E
3
2
9,000
18,000
Before crashing, the project duration is _________ week(s).
The total cost of the project if we do nothing is $ __________ (round to the nearest dollar).
The minimum cost…
Contract requirements state that a project must be completed within 180 working days, or it will incur penalties for late completion. Analysis of the activity network reveals an estimated project time of 145 working days with a project variance of 400. What is the probability that the project will be completed before the late-payment deadline?
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Explain how earned value management (EVM) may control costs and monitor project success and hypothesise why it is not utilised more commonly. What are some guidelines for evaluating cost variation, schedule variance, cost performance index, and schedule performance index numbers?arrow_forwardProject Duration= Planning on spending per month Project Budget (BAC) Percent complete per month Performance Analysis % Complete Planned Value (PV) Actual Cost (AC) Earned Value (EV) Schedule Variance (SV) Schedule Performance Index (SPI) Cost Variance (CV) Cost Performance Index (CPI) Estimate at Completion (EAC) Estimate to Complete (ETC) Variance at Completion (VAC) 5 months $300,000.00 $1,500,000.00 Month 1 20% 20% of work completed 15% of work completed Spent additional $110,000 Month 2 Instructions: Utilizing the EVM cheat sheet provided by the instructor, complete the calculations i formulas and functions to attain your answers. Please do not simply plug in numbers. This exerci ability to use Excel. Finally, answer the questions below to explain your answers. Question 1: What do your SV numbers tell you about the project schedule and how? Answer 1: Question 2: What do your SPI numbers tell you about the project schedule and how? Answer 2:arrow_forward“Critical activities determine the project completion time”. Justify the statement.arrow_forward
- 1. Draw the network diagram for the project below. 2. What is the critical path and completion time for the project? 3. Determine the least expensive project cost if the duration is to be 10% shorter than normal project duration.arrow_forward8. You are in charge of organizing a dinner-dance concert for a local charity. You have reserved a hall that will seat 30 couples and have hired a band. Develop a scope statement for this project that contains examples of all the elements. Assume that the event will occur in 4 weeks and provide your best guess estimate of the dates and milestones.arrow_forwardAssume that you have been selected and hired by the FAO to manage this FAOFunded Aquaponics Project described in the article (above). Using expressed and impliedinformation in the article, craft/develop some projectdocuments and plans to help in the overall management of the Aquaponics Project, withspecific focus on the components and questions/statements listed below.Create a partial project schedule using a Gantt Chart (with a minimum of 10 tasks).Craft a high-level Procurement Management Plan for the project.arrow_forward
- 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?arrow_forwardAssess the planning, monitoring, and controlling of projects using the Program Evaluation and Review Technique(PERT)/Critical Path methods(CPM), including factors such as early start late finish, duration, and precedence in the project path. Share an example of a real world application.arrow_forwardThe 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, Parrow_forward
- Project closing actions should: be identified once the project has been completed be identified and included in the project baseline plan be included as part of the RFP not be included in any formal document; any closing actions will be done as neededarrow_forwardYou are the project manager of the software installation project in the table below. You would like to find the minımum-cost schedule for your project. There is a $500-per-week penalty for each week the project is delayed beyond week 25. In addition, your project team determined that indirect project costs are $2,000 per week. Normal Cost Crash Time Crash Cost ($) 3,000 3,000 10,000 Normal Time (weeks) Immediate Activity Predecessor(s) (weeks) (S) A 1 3,000 6,000 C A 9. 8. 12,000 8 2. А, В 10 3,000 9.000 4,000 5,000 2,000 3.000 5,000 9,000 7,000 12 6. E, F 2 1 G 5.000 C, F 8 2,000 8.000 a. What would be your target completion week? The target completion week is week (Enter your response as an integer.)arrow_forwardPrepare a draft project charter for the Global Treps project. Assume that the project will take six months to complete and have a budget of $120,000. Use the project charter template provided in this text and the sample project charter provided in Table 4-1 as guides.You will be the project manager, and Dr. K. will be the project sponsor. Other team members will include Bobby, Ashok, Kim, and Alfreda.You plan to hold four shark tank like events plus develop the Global Treps site and application.arrow_forward
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