1.3 In-Class Activity
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School
ECPI University, Virginia Beach *
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Course
472L
Subject
Industrial Engineering
Date
Feb 20, 2024
Type
xlsx
Pages
16
Uploaded by CaptainUniverseEagle16
Lab # 2a - Time Phased Budget
Directions: using the data in the table below, ple
ID
Activity
Proportions
Dollars
A.
Surveying
10%
$100,000 B.
Lot work
10%
$100,000 C.
Lay the foundation
20%
$200,000 D.
Pipe (plumbing)
7%
$70,000 E.
Electrical work
10%
$100,000 F.
Structural work
20%
$200,000 G.
Landscaping
13%
$130,000 H
Windows, Doors, Roof
10%
$100,000 1
$ 1,000,000.00 ID
Activities
January
A
Surveying
$100,000 B
Lot work
C
Lay the foundation
D
Pipe (plumbing)
E
Electrical work
F
Structural work
G
Landscaping
H
Windows, Doors, Roof
Totals by Month
$100,000 Cum.Totals
$100,000
ease complete the time phased budget (fields in yellow). Be sure to input all data using formulas.
Time
Total Budget
$1,000,000 January
February - March
(split 50/50 between months)
March
April
April - May - June
(split in thirds)
May
May - June
(split 50/50 between months)
June
February
March
April
May
June
$50,000 $50,000 $200,000 $70,000 $33,333 $33,333 $33,333 $200,000 $65,000 $65,000.0 $100,000 $50,000 $250,000 $103,333 $298,333 $198,333 $150,000 $400,000 $503,333 $801,667 $1,000,000
Totals by Activity
$100,000 $100,000 $200,000 $70,000 $100,000 $200,000 $130,000 $100,000 $1,000,000
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Lab # 2a - Time Phased Budget
Directions: using the data in the table below, p
Activity/Budget Allocation ID
Activity
Proportions
Dollars
A.
Surveying
10%
$100,000 B.
Lot work
10%
$100,000 C.
Lay the foundation
20%
$200,000 D.
Pipe (plumbing)
7%
$70,000 E.
Electrical work
10%
$100,000 F.
Structural work
20%
$200,000 G.
Landscaping
13%
$130,000 H
Windows, Doors, Roof
10%
$100,000 100%
$ 1,000,000.00 ID
Activities
January
A
Surveying
$100,000 B
Lot work
C
Lay the foundation
D
Pipe (plumbing)
E
Electrical work
F
Structural work
G
Landscaping
H
Windows, Doors, Roof
Totals by Month
$100,000 Cum.Totals
$100,000 $500,000
please complete the time phased budget. Be sure to input all data using formulas.
Table
Time
NOTES
Note: tie all formulas
January
Total Budget
February - March
(split 50/50 between months)
March
April
April - May - June
(split in thirds)
May
May - June
(split 50/50 between months)
June
TIME PHASED BUDGET
February
March
April
May
June
$50,000 $50,000 $200,000 $70,000 $33,333 $33,333 $33,333 $200,000 $65,000 $65,000.0 $100,000 $50,000 $250,000 $103,333 $298,333 $198,333 $150,000 $400,000 $503,333 $801,667 $1,000,000 $375,000 $125,000
s to this $1M!
$1,000,000 Totals by Activity
$100,000 $100,000 $200,000 $70,000 $100,000 $200,000 $130,000 $100,000 $1,000,000
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Lab#2b - Cost Estimation Types
Directions: Complete the estimation grid cells per the 5 Estimate
COST ESTI
Estimate Types
Standard Errors
Initial Estimate
Preliminary (ball park)
-25%
25%
$10,000 Middle of the Road
-15%
15%
$10,000 Definitive
-5%
5%
$10,000 Preliminary (ball park)
-25%
25%
$52,000 Middle of the Road
-15%
15%
$52,000 Definitive
-5%
5%
$52,000 Preliminary (ball park)
-25%
25%
$65,000 Middle of the Road
-15%
15%
$65,000 Definitive
-5%
5%
$65,000 Preliminary (ball park)
-25%
25%
$107,000 Middle of the Road
-15%
15%
$107,000 Definitive
-5%
5%
$107,000 Preliminary (ball park)
-25%
25%
$156,000 Middle of the Road
-15%
15%
$156,000 Definitive
-5%
5%
$156,000 ESTIMATIONS
1
$10,000 2
$52,000 3
$65,000 4
$107,000 5
$156,000 1. You are given an estimate of $10,000. (Compute the best case and worst case of a
2. You are given an estimate of $52,000. (Compute the best case and worst case of 3. You are given an estimate of $65,000. (Compute the best case and worst case of 4. You are given an estimate of $107,000. (Compute the best case and worst case o
5. You are given an estimate of $156,000. (Compute the best case and worst case o
Risk/Reward relationship: linear relationship
Risk goes Up
Reward goes up
Risk goes down
Reward goes down
es given at the bottom. NOTE: every cell should have a formula.
IMATION
Case
Best case (-)
worst case (+)
Best case (-)
worst case (+)
in Dollars
in Dollars
($2,500)
$2,500 $7,500 $12,500 ($1,500)
$1,500 $8,500 $11,500 ($500)
$500 $9,500 $10,500 ($13,000)
$13,000 $39,000 $65,000 ($7,800)
$7,800 $44,200 $59,800 ($2,600)
$2,600 $49,400 $54,600 ($16,250)
$16,250 $48,750 $81,250 ($9,750)
$9,750 $55,250 $74,750 ($3,250)
$3,250 $61,750 $68,250 ($26,750)
$26,750 $80,250 $133,750 ($16,050)
$16,050 $90,950 $123,050 ($5,350)
$5,350 $101,650 $112,350 ($39,000)
$39,000 $117,000 $195,000 ($23,400)
$23,400 $132,600 $179,400 ($7,800)
$7,800 $148,200 $163,800 all three estimation types) all three estimation types) all three estimation types) of all three estimation types) of all three estimation types)
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Lab#2b - Cost Estimation Types
Directions: Complete the estimation grid cells per the 5 Estimate
COST ESTI
Estimate Types
Standard Errors
Initial Estimate
Preliminary (ball park)
-25%
25%
$10,000 Middle of the Road
-15%
15%
$10,000 Definitive
-5%
5%
$10,000 Preliminary (ball park)
-25%
25%
$52,000 Middle of the Road
-15%
15%
$52,000 Definitive
-5%
5%
$52,000 Preliminary (ball park)
-25%
25%
$65,000 Middle of the Road
-15%
15%
$65,000 Definitive
-5%
5%
$65,000 Preliminary (ball park)
-25%
25%
$107,000 Middle of the Road
-15%
15%
$107,000 Definitive
-5%
5%
$107,000 Preliminary (ball park)
-25%
25%
$156,000 Middle of the Road
-15%
15%
$156,000 Definitive
-5%
5%
$156,000 ESTIMATIONS
1
$10,000 2
$52,000 3
$65,000 4
$107,000 5
$156,000 1. You are given an estimate of $10,000. (Compute the best case and worst case of a
2. You are given an estimate of $52,000. (Compute the best case and worst case of 3. You are given an estimate of $65,000. (Compute the best case and worst case of 4. You are given an estimate of $107,000. (Compute the best case and worst case o
5. You are given an estimate of $156,000. (Compute the best case and worst case o
Risk/Reward relationship: linear relationship
Risk goes Up
Reward goes up
Risk goes down
Reward goes down
es given at the bottom. NOTE: every cell should have a formula.
IMATION
Case
Best case (-)
worst case (+)
Best case (-)
worst case (+)
in Dollars
in Dollars
($2,500)
$2,500 $7,500 $12,500 ($1,500)
$1,500 $8,500 $11,500 ($500)
$500 $9,500 $10,500 ($13,000)
$13,000 $39,000 $65,000 ($7,800)
$7,800 $44,200 $59,800 ($2,600)
$2,600 $49,400 $54,600 ($16,250)
$16,250 $48,750 $81,250 ($9,750)
$9,750 $55,250 $74,750 ($3,250)
$3,250 $61,750 $68,250 ($26,750)
$26,750 $80,250 $133,750 ($16,050)
$16,050 $90,950 $123,050 ($5,350)
$5,350 $101,650 $112,350 ($39,000)
$39,000 $117,000 $117,000 ($23,400)
$23,400 $132,600 $132,600 ($7,800)
$7,800 $148,200 $148,200 all three estimation types) all three estimation types) all three estimation types) of all three estimation types) of all three estimation types)
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LAB#2c - PERT FORMULAS
Directions: Complete
DURATION ESTIMATES
Activities
Optimistic
Pessimistic
Most Likely
PERT 3 - Point
A
5
15
10
10.00
B
10
20
15
15.00
C
15
25
20
20.00
D
20
30
25
25.00
E
25
35
30
30.00
F
30
40
35
35.00
G
35
45
40
40.00
H
40
50
45
45.00
I
45
55
50
50.00
J
50
60
55
55.00
ACTIVITY VARIANCES USING PERT
A
Hours Planned
Hours Planned
SUM
B
Optimistic
Pessimistic
C
5
15
20
2.78
D
10
20
30
2.78
E
15
25
40
2.78
F
20
30
50
2.78
G
25
35
60
2.78
H
30
40
70
2.78
I
35
45
80
2.78
J
40
50
90
2.78
K
45
55
100
2.78
PERT ACTIVITY VARIANCE
e all Columns flagged in yellow. Please USE FORMULAS!
FORMULAS:
1.67
1.67
PERT 3-Point = (Pessimistic + (4* Most Likely)+ Optimistic)/6
1.67
1.67
PERT Activity Variance = ((Pessimistic-Optimistic)/6)^2
1.67
1.67
1.67
1.67
1.67
1.67
PERT α
PERT α= (Pessimistic - Optimistic)/6
LAB#2c - PERT FORMULAS
Directions: Complete
DURATION ESTIMATES
Activities
Optimistic
Pessimistic
Most Likely
PERT 3 - Point
A
5
15
10
10.00
B
10
20
15
15.00
C
15
25
20
20.00
D
20
30
25
25.00
E
25
35
30
30.00
F
30
40
35
35.00
G
35
45
40
40.00
H
40
50
45
45.00
I
45
55
50
50.00
J
50
60
55
55.00
ACTIVITY VARIANCES USING PERT
A
Hours Planned
Hours Planned
SUM
B
Optimistic
Pessimistic
C
5
15
20
2.78
D
10
20
30
2.78
E
15
25
40
2.78
F
20
30
50
2.78
G
25
35
60
2.78
H
30
40
70
2.78
I
35
45
80
2.78
J
40
50
90
2.78
K
45
55
100
2.78
PERT ACTIVITY VARIANCE
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e all Columns flagged in yellow. Please USE FORMULAS!
FORMULAS:
1.67
1.67
PERT 3-Point = (Pessimistic + (4* Most Likely)+ Optimistic)/6
1.67
1.67
PERT Activity Variance = ((Pessimistic-Optimistic)/6)^2
1.67
1.67
1.67
1.67
1.67
1.67
PERT α
PERT α= (Pessimistic - Optimistic)/6