c. Suppose that due to market competition, NYC Real Estate would like to complete its renovation project within the next 9 weeks. For each week beyond the 9 weeks deadline, it faces a $800 penalty. The following table details NYC Real Estate's project crashing options. Activity Immediate Predecessor Normal Crash Normal Crash Duration Duration Cost Cost Crash Cost per S (weeks) (weeks) Week A B - 2 1 $1,300 $2,150 $850 - 4 2 $800 $1,800 $500 с A 3 3 $2,000 $2,000 - D A 2 1 $1,600 $2,000 $400 E D 32 1 $1,500 $1,900 $200 F B,C,E 4 2 $1,000 $2,100 $550 G D 5 3 $2,200 $3,600 $700 Using the greedy method learned in class, crash NYC Real Estate's renovation project for as many weeks as it is profitable to do so. For each week of crashing, identify the activities to be crashed, the cost of crashing, and the resulting critical path(s) after performing the crashing. If it no longer becomes profitable to crash the project, then clearly state why. [
c. Suppose that due to market competition, NYC Real Estate would like to complete its renovation project within the next 9 weeks. For each week beyond the 9 weeks deadline, it faces a $800 penalty. The following table details NYC Real Estate's project crashing options. Activity Immediate Predecessor Normal Crash Normal Crash Duration Duration Cost Cost Crash Cost per S (weeks) (weeks) Week A B - 2 1 $1,300 $2,150 $850 - 4 2 $800 $1,800 $500 с A 3 3 $2,000 $2,000 - D A 2 1 $1,600 $2,000 $400 E D 32 1 $1,500 $1,900 $200 F B,C,E 4 2 $1,000 $2,100 $550 G D 5 3 $2,200 $3,600 $700 Using the greedy method learned in class, crash NYC Real Estate's renovation project for as many weeks as it is profitable to do so. For each week of crashing, identify the activities to be crashed, the cost of crashing, and the resulting critical path(s) after performing the crashing. If it no longer becomes profitable to crash the project, then clearly state why. [
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
help me with part c.
Transcribed Image Text:2. NYC Real Estate is purchasing an old office building in order to renovate it. The renovation project
consists of 7 activities which are given below. The duration of each activity is given in weeks and the
precedence relationships among the activities are given as well.
Activity
Description
Immediate
Predecessors
Duration (weeks)
A
Secure Financing
2
B
Hire Employees
4
C
Buy Materials
A
3
D
Purchase Property
A
2
E
Clean Old Building
D
3
F
Perform Renovation
B,C,E
4
G
Sign Tenants
D
5
Here is the precedence graph for this project.
D(2)
G(5)
E(3)
A(2)
C(3)
B(4)
F(4)
a. Using the critical path method learned in class, determine the earliest start, earliest finish, latest
start, and latest finish times of each activity. In addition, compute the slack of each activity.
Transcribed Image Text:b. What is the minimum amount of time needed to complete the renovation project? Also, what are
the critical activities and the critical path(s) of the project?
c. Suppose that due to market competition, NYC Real Estate would like to complete its ren ovation
project within the next 9 weeks. For each week beyond the 9 weeks deadline, it faces a $800
penalty. The following table details NYC Real Estate's project crashing options.
Activity
Immediate
Predecessor
Normal
Crash
Normal
Crash
Duration
Duration
Cost
Cost
Crash
Cost per
S
(weeks)
(weeks)
Week
A
-
2
1
$1,300
$2,150
$850
B
4
2
$800
$1,800
$500
с
A
3
3
$2,000
$2,000
D
A
2
1
$1,600
$2,000
$400
E
D
3
1
$1,500 $1,900
$200
F
B,C,E
4
2
$1,000
$2,100
$550
G
D
5
3
$2,200
$3,600
$700
Using the greedy method learned in class, crash NYC Real Estate's renovation project for as many
weeks as it is profitable to do so. For each week of crashing, identify the activities to be crashed,
the cost of crashing, and the resulting critical path(s) after performing the crashing. If it no longer
becomes profitable to crash the project, then clearly state why.
15
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