Bob Carlton’s golf camp estimates the following staff requirements for its services over the next 2 years.Quarter 1 2 3 4Demand (hours) 4,200 6,400 3,000 4,800Quarter 5 6 7 8Demand (hours) 4,400 6,240 3,600 4,800Each certified instructor puts in 480 hours per quarter regular time and can work an additional 120 hours overtime. Regular-time wages and benefits cost Carlton $7,200 per employee per quarter for regular time worked up to 480 hours, with an overtime cost of $20 per hour. Unused regular time for certified instructors is paid at $15 per hour. There is nocost for unused overtime capacity. The cost of hiring, training, and certifying a new employee is $10,000. Layoff costs are $4,000 per employee. Currently, eight employees work in this capacity.a. Find a staffing plan using the level strategy that allows for no delay in service. It should rely only on overtime and the minimum amount of undertime necessary. What is the total cost of this plan?b. Use a chase strategy that varies the workforce level without using overtime or undertime. What is the total cost of this plan?c. Propose a better plan and calculate its total cost.
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.
Bob Carlton’s golf camp estimates the following staff requirements for its services over the next 2 years.
Quarter 1 2 3 4
Demand (hours) 4,200 6,400 3,000 4,800
Quarter 5 6 7 8
Demand (hours) 4,400 6,240 3,600 4,800
Each certified instructor puts in 480 hours per quarter regular time and can work an additional 120 hours overtime. Regular-time wages and benefits cost Carlton $7,200 per employee per quarter for regular time worked up to 480 hours, with an overtime cost of $20 per hour. Unused regular time for certified instructors is paid at $15 per hour. There is no
cost for unused overtime capacity. The cost of hiring, training, and certifying a new employee is $10,000. Layoff costs are $4,000 per employee. Currently, eight employees work in this capacity.
a. Find a staffing plan using the level strategy that allows for no delay in service. It should rely only on overtime and the minimum amount of undertime necessary. What is the total cost of this plan?
b. Use a chase strategy that varies the workforce level without using overtime or undertime. What is the total cost of this plan?
c. Propose a better plan and calculate its total cost.
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