7. Use the information contained below to compress one time unit per move using theleast cost method. Assume the total indirect cost for the project is $2,000 and thereis a savings of $100 per time unit reduced. Calculate the total direct, indirect, andproject costs for each duration. Plot these costs on a graph. What is the optimumcost-time schedule for the project?Note: The correct normal project duration and total direct cost are provided.Act.Crash Cost (Slope)Maximum Crash TimeNormal TimeNormal CostA02200B50141000C2002580020025100010013$800F40151000G40141000H01200AB2x4CF55E3DG54Project duration 20HDirect cost6,0001xIndirect cost2,000Total cost8,000 Refer to exercise #7 in this chapter. The values for direct cost Blank 1, indirect cost Blank 2, total cost Blank3, and time Blank 4 at the optimal cost-time point are (enter the values for DC, IC, TC and OT):Blank 1Add your answerBlank 2Add your answerIBlank 3Add your answerBlank 4Add your answer

In evaluating the optimum cost-time schedule for the project using crashing methods, several factors…

Answered: 7. Use the information contained below…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

Why do you need to have a scope statement if you have a good project charter and WBS?
During the execution of your project, you decide that you would like to have charts of your project status - cost and schedule, display certain key project data, and hold your project meetings in a specific conference room. Such a place would be called: A. Armageddon B. War room C. Battlefield D. Ground zero
Using the information provided along with your project definition, project scope statement, and any assumptions you think you need to make, perform the activities below: Determine the activities (tasks) required to accomplish the project. This is a rough draft task list at this point. Identify the major milestones from the task list. Create a Project Charter, a template is provided below, but feel free to use any template you prefer
Differentiate between the benefits and drawbacks of project scheduling. Please include any needed details, examples, and definitions.
Discuss the necessity of project scheduling as well as the obstacles that come with it. As requested, discuss, describe, and define.
Every project is constrained by three dimensions which are interrelated. Use a diagram to illustrate these dimensions and discuss how changes in any of the dimensions impacts the project.
Discuss project finance considerations.Project management software may minimize project costs.
A project P consists of 9 activities as shown below: Activity Predecessor(s) Duration (days) Cost ($) A 1 100 B A 2000 B 1 300 B 200 E 200 C, E 4 400 G 2 1600 G 1000 C, E 4 1600 2.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
2. Assume the following project data given in Table 2. It is required to crash the project duration from its original duration. Assume Indirect (overhead) costs are $120 per day. a) Draw the network diagram by using AON method b) Calculate the normal duration and Normal project cost c) Least-cost and optimum point/durations for the project. d) Show the relationship between time and cost Graphically. Precede Duration (days) d by Activit Cost (Birr) y Norma Crash Norma Crash A 4 500 600 В A 7 5 350 500 A 8 800 92 D A 11 7 1200 1400 E B,C 6 4 600 700 F C 4 500 500 D,F 7 5 700 1000 H E,F 6 5 300 420 st
Discuss why defining the scope of a project in the beginning phase of any project is critical. Are the scope and schedule related? Why or why not?
The Advanced Tech Company has a project to design an integrated information data base for a major bank. Data for the project are given in the following table. Indirect project costs amount to $150 per day. The company will incur a $100 per day penalty for each day the project lasts beyond day 18. Activity A B C D E F G H Normal Time (days) 5 4 4 3 4 b. What is the minimum-cost schedule? 800 1,000 600 1,200 1,500 1,300 900 500 a. What is the project's duration if only normal times are used? The project duration is 22 day(s). (Enter your response as an integer.) 2 Normal Cost ($) 55 Crash Time (days) 3 3 3 N N 2 2 1 35 Crash Cost ($) 1,600 1,200 900 1,500 1,700 1,400 1,200 500 Immediate Predecessor(s) With the minimum-cost schedule, the project duration is 17 day(s). (Enter your response as an integer.) c. What is the critical path for the minimum-cost schedule? The critical path for the minimum-cost schedule is B-D-E-G-H A, B B C, D E шо E G

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