he G&E Company is preparing a bid to build the new 47,000-seat Shoreline baseball stadium. The construction must start on June 10, 2019, and be completed in time for the start of the 2022 season. A penalty clause of $500,000 per day of delay beyond April 3rd is written into the contract. Percival Young, the president of the co
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.
CASE: Ventura Baseball Stadium
The G&E Company is preparing a bid to build the new 47,000-seat Shoreline baseball stadium. The construction must start on June 10, 2019, and be completed in time for the start of the 2022 season. A penalty clause of $500,000 per day of delay beyond April 3rd is written into the contract.
Percival Young, the president of the company, expressed optimism at obtaining the contract and revealed that the company could net as much as $5 million on the project. He also said that if they were successful, the prospects of future projects would be bright, since there is a projected renaissance in building classic ball parks with modern luxury boxes.
ASSIGNMENT
Given the information provided in Table 6.3, construct a network
- Whether the Shoreline Stadium project will be completed on time.
- What the critical path for this project is.
- Whether you would recommend G&E pursue this contract?
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