he Ranch Development Project was undertaken by two real estate companies in the Colorado high country and several investors from Oklahoma. The idea was to convert the working ranch into a luxury single-family development. The project became known as The Ranch. The average home price was $475,000, and it was not uncommon to have homes valued at more than $1 million. The center of the development was a first-class 18-hole golf course. Green fees could approach $100 per day, depending on services required. Some have claimed that the course is one of the best in Colorado. The Ranch also had a four-star restaurant located in a beautiful and spacious log cabin, which included a fireplace big enough for a 6-foot-tall person to walk into without hitting his head. Other amenities included a heated pool, lighted tennis courts, and a complete workout center. Free shuttle service was provided to the ski slopes a few miles away. To preserve the beauty of the area and to enhance property values, each home site varied from 1 acre to more than 20 acres. There were numerous building restrictions. Every home and structure had to be approved by the Ranch Development Board. Approval required developing a scale model of all buildings on the property and a complete set of blueprints. The average cost of preparing the necessary plans was $25,000. The concept of a footprint was also used. A footprint is a relatively small circular area on each plot of land. Homes and all structures had to be placed inside the footprint. Although the homeowner held title to the entire property, all structures had to be placed in the footprint unless special permission was given by the Ranch Development Board (a rare occurrence). Each homeowner had to pay monthly fees, depending on the location and value of the land. The fees could vary from $450 to more than $1,250 per month. These fees included water, sewer, cable TV, and access to the pool, tennis courts, and exercise facility. Golf and restaurant fees were additional. One of the developments in The Ranch is outlined in the figure below this problem. The development was not as close to the golf course as some of the others, but it had a beautiful trout stream and pond in the center. The footprints are shown in the network. Distances between footprints are given in hundreds of feet. Requirements: 1) Determine the least expensive way to connect all the homes with water and sewer lines. Assume that minimizing total distance will also minimize total costs. HINT: Type in the total minimum distance to connect nodes and how the nodes connect.
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.
The Ranch Development Project was undertaken by two real estate companies in the Colorado high country and several investors from Oklahoma. The idea was to convert the working ranch into a luxury single-family development. The project became known as The Ranch. The average home price was $475,000, and it was not uncommon to have homes valued at more than $1 million. The center of the development was a first-class 18-hole golf course. Green fees could approach $100 per day, depending on services required. Some have claimed that the course is one of the best in Colorado. The Ranch also had a four-star restaurant located in a beautiful and spacious log cabin, which included a fireplace big enough for a 6-foot-tall person to walk into without hitting his head. Other amenities included a heated pool, lighted tennis courts, and a complete workout center. Free shuttle service was provided to the ski slopes a few miles away.
To preserve the beauty of the area and to enhance property values, each home site varied from 1 acre to more than 20 acres. There were numerous building restrictions. Every home and structure had to be approved by the Ranch Development Board. Approval required developing a scale model of all buildings on the property and a complete set of blueprints. The average cost of preparing the necessary plans was $25,000. The concept of a footprint was also used. A footprint is a relatively small circular area on each plot of land. Homes and all structures had to be placed inside the footprint. Although the homeowner held title to the entire property, all structures had to be placed in the footprint unless special permission was given by the Ranch Development Board (a rare occurrence).
Each homeowner had to pay monthly fees, depending on the location and value of the land. The fees could vary from $450 to more than $1,250 per month. These fees included water, sewer, cable TV, and access to the pool, tennis courts, and exercise facility. Golf and restaurant fees were additional.
One of the developments in The Ranch is outlined in the figure below this problem. The development was not as close to the golf course as some of the others, but it had a beautiful trout stream and pond in the center. The footprints are shown in the network. Distances between footprints are given in hundreds of feet.
Requirements:
1) Determine the least expensive way to connect all the homes with water and sewer lines. Assume that minimizing total distance will also minimize total costs.
- HINT: Type in the total minimum distance to connect nodes and how the nodes connect.
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