1. A 32,000-seat baseball stadium is used 17 times for games, concerts, and graduation ceremonies. Each event averages five hours and assumes the stadium is full for each event. The stadium is available 365 days a year from 7 am to midnight. (Notice: the focus is stadium “seat” utilization). a. What is stadium (seat) utilization using Equation 7.1 (pg 146)? (Show your calculations) b. If in the above scenario, the utilization was 75% during the 17 events, but there were 2 additional events that garnered 100% utilization, would this be an increase or decrease in overall utilization from the result in “a”? (Show calculations) c. As an Operations Manager how would you improve utilization at the stadium? Provide at least three optional improvement plans with details. EQUATION 7.1 is : UTILIZATION (U) = Resources used / resources avaliable EQUATION 7.2 is: UTILIZATION (U) = Demand Rate / [Service Rate * Number of Servers]
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.
1. A 32,000-seat baseball stadium is used 17 times for games, concerts, and graduation ceremonies. Each event averages five hours and assumes the stadium is full for each event. The stadium is available 365 days a year from 7 am to midnight. (Notice: the focus is stadium “seat” utilization).
a. What is stadium (seat) utilization using Equation 7.1 (pg 146)? (Show your calculations)
b. If in the above scenario, the utilization was 75% during the 17 events, but there were 2 additional events that garnered 100% utilization, would this be an increase or decrease in overall utilization from the result in “a”? (Show calculations)
c. As an Operations Manager how would you improve utilization at the stadium? Provide at least three optional improvement plans with details.
EQUATION 7.1 is : UTILIZATION (U) = Resources used / resources avaliable
EQUATION 7.2 is: UTILIZATION (U) = Demand Rate / [Service Rate * Number of Servers]
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