Answered: In Project Management, what is the…

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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What is the primary purpose of conducting a feasibility study in project management?
Kelle Carpet and Trim installs carpet in commercial offices. Peter Kelle has been very concerned with the amount of time it took to complete several recent jobs. Some of his workers are very unreliable. A list of activities and their optimistic completion time, the most likely completion time, and the pessimistic completion time (all in days) for a new contract are given in the following table: Time (days) Immediate Activity Predecessor(s) a A 3 8 B 4. 5 3 D 7 8 6. В, D А, Е А, Е E 1 3 F 2 3 4 7 9 13 11 12 13 F 7 J 15 17 19 K 4 12 H, I This exercise contains only part a. a) Based on the activity time estimates, the expected times and variance for each of the activities are: (Round your responses to two decimal places.) Activity Expected Time Variance A
Dave Fletcher was able to determine the activity times for constructing his laser scanning machine. Fletcher would like to determine ES, EF, LS, LF, and slack for each activity. The total project completion time and the critical path should also be determined. Here are the activity times: Time Activity (weeks) Dave's earliest start (ES) and earliest finish (EF) are: Dave's latest start (LS) and latest finish (LF) are: The slack times are: The activities on the critical path are The total project completion time for Dave = weeks. ▼ Time Immediate Activity (weeks) Predecessor(s) A 6 8 3 3 B C D A A Activity A B C D E F G H Activity H G F E D C B A Activity A B C D E F G H | E F 6 G ES □ 0 H 8 T П LS 15 14 8 9 12 11 0 5 Slack || EF 6 13 22 23 5 7 9 8 LF | | L | | Immediate Predecessor(s) B B C, E D,F
The product development group at “Griffin” Company has already worked on new computer software products that has potential to know a large market share. Via an outside source, London Management has learned that a competitor is working to bring a similar product to market. As a result, London's top management increased its pressure on the product development group. Group leaders have turned to CPM / PERT as an aid to scheduling remaining activities before new products can be brought to market. The estimated time of activity in a day is as follows Question: Create an initial network Find the cost and the duration Determine the path and critical activities
Jamison Day Consul tants has been entrusted with thetask of evaluating a business plan that has been divided into foursections- marketing, finance, operations, and human resources.Chris, Steve, Juana, and Rebecca form the evaluation team. Each of them has expertise in a certain field and tends to finish thatsection faster. The estimated times taken by each team memberfor each section have been outlined in the following table. Furtherinformation states that each of these individuals is paid $60/hour.a) Assign each member to a different section such that JamisonConsultants's overall cost is minimized.b) What is the total cost of these assignments?
If we used AW analysis instead of PW analysis to select a project, it will give us a different selection . True or false ?
Gabrielle Foley, owner of Pet Paradise, is opening a new store in Columbus, Ohio. Her major concern is the hiring of a manager and several associates who are animal lovers. She also has to coordinate the renovation of a building that was previously owned by a chic clothing store. Foley has gathered the data shown in the table below. Activity A B с D E F G H Description Interview for new manager Renovate building Place ad for associates and interview applicants Have new manager prospects visit Purchase equipment for new store and install Check employee applicant references and make final selection Check references for new manager and make final selection Hold orientation meetings and do payroll paperwork Immediate Predecessor(s) III A CDL А B с E, F, G Time (weeks) a 1 752261 m b 29655 2 7 2 3 7348234 17 13 6 12 14 a. How long is the project expected to take? The project is expected to take 18 weeks. (Enter your response as a whole number.) b. Suppose that Foley has a personal goal of…
Three activities are candidates for crashing on a project network for a large computer installation (all are, of course, critical) Activity details are in the following table: a) Activity that should be orashed first to reduce the project duration by 1 day is b) Activity that should be crashed next to reduce the project duration by one additional day is c) Total cost of crashing the project by 2 days = S (Enter your response as an integer) Normal Activity Time (days) A B C 7 4 11 Crash Normal Time (days) Cost $8,000 $1,200 $4,200 6 2 9 Total Cost with Crashing Immediate Predecessor(s) $6,500 $3,000 $6.200 A B
How could you determine the relationship between a table of Consultants and a table of Projects at a consulting firm?
Following are the three time estimates for a task in a project: optimistic completion time = 2 weeks most likely completion time = 4 weeks pessimistic completion time = 7 weeks Compute the expected time for the task.
The Cove at UP is looking to open a new location. Guillermo Santiago has been developing a project plan and has identified the following tasks, precedence relations, and normal task durations. \ tasks predecessors task duration start 0 A start 7 B A 20 C A 34 D B 39 E C,D 6 F D 15 G E,F 33 end G 0 Guillermo has studied project management at the University of Portland and knows that the starting and ending time of any task may be determined from the information in the table using the critical path method. Assume the following notation when answering the questions below: \ Metric Description ES Early start time for task EF Early finsh time for task LS Late start time for task LF Late finsh time for task TS Total slack for task FS Free slack for task IS Independent slack for task SS safety slack for task Please provide the CPM result for each of the following metrics: ES_{end} = LS_{D} = TS_{D} = EF_{G} = LF_{G} =
The Virginia Department of Transportation is undertaking a construction project to widen a large section of interstate highway near Wahington, DC. The project includes the construction of a number of new bridges, interchanges and overpasses. The first step in the process is to appoint a project manager and develop a project team, whose members will be departmental employees and private consultants and operatives. The team for a project of this size also requires a large support staff with a variety of technical skills. Once the team is selected and the staff is in place, the next task is to select a primary contractor to manage and oversee the construction. The following activities are standard for the planning and scheduling of this process: Activity Activity description Time predecessor estimates (weeks) Activity a | b Select project management 2 2 a b Develop team recruitment process 3 a. Implement team recruitment process by 3. 6. Staff needs assessment 3 Staff recruitment…

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In Project Management, what is the executive summary when renovating a kitchen?