3. Compute the early, late, and slack times for the activities in the network that follows, assuming a time-constrained network. Which activities are critical? What is the time-constrained project duration? Note: Recall, in the schedule resource load chart the time-constrained scheduling interval (ES through LF) has been shaded. Any resource scheduled beyond the shaded area will delay the project. Assume you have only three resources and you are using a computer that uses software that schedules projects by the parallel method and following heuristics. Schedule only one period at a time! Minimum slack Smallest duration Lowest identification number 282 Chapter 8 Scheduling Resources and Costs Keep a log of each activity change and update you make each period-e.g., period 0-1, 1-2, 2-3, etc. (Use a format similar to the one on page 259.) The log should include any changes or updates in ES and slack times each period, activities scheduled, and activities delayed. (Hint: Remember to maintain the technical dependencies of the network.) Use the resource load chart to assist you in schedul- ing (see Figures 8.4 and 8.5). List the order in which you scheduled the activities of the project. Which activi- ties of your schedule are now critical? Recompute your slack for each activity given your new schedule. What is the slack for activity 1? 4? 5? 3 4 6 Legend 4 ES ID EF 2 SL SL 3 4 LS DURLF Resource Scheduled resource load chart with ES and slack updates ID RES DUR ES LF SL O 1 3 4 6. 9 10 11 12 13 14 15 12 3 0 41 2 1 4 040 3 1 50 61 1 6 4 10 4 2 4 5 10 1 6 2 10 130 Resources scheduled Resources available 3 3 3 3 3 3 3 3 3 3 3
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.
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