I need solve this in project management Q3) The time and cost values for the project below are shown on the following page.a) Using the time-cost trade-off process shown in class, determine the logical steps to reducethe following project to its shortest duration. Use the tables provided on the following page.b) Draw bar charts for the project for bothi.ii.the normal project duration, andthe crash project duration.c) Draw a graph (time vs. $) showing the cumulative cost profiles for both the normal projectduration and the crash project duration.Act. IDABсDEFGH1JKCycle #PNormal CrashTime Time17633787535ActivityToShorten14421546324Can beShortened38NormalCost (S)8001000300400100500200350700500450N.I.L.2CrashCost (5)800160050080020080014006008501000800DaysShortenedTimeDifferenceCost per Cost forDayCycleCostDifference $/Day($)Total ProjectCost Duration

Critical path = A-B-F-H-K with duration = 27 days

Q3) The time and cost values for the project below are shown on the following page. a) Using the time-cost trade-off process shown in class, determine the logical steps to reduce the following project to its shortest duration. Use the tables provided on the following page. b) Draw bar charts for the project for both i. the normal project duration, and the crash project duration. c) Draw a graph (time vs. S) showing the cumulative cost profiles for both the normal project duration and the crash project duration. 3 Act. ID A B C D E F G H I J K Cycle # G Normal Time 1 7 6 3 3 7 8 7 5 3 5 Activity То Shorten Crash Time 1 4 4 2 1 5 4 6 3 2 4 Can be Shortened F 8 Normal Cost (5) 800 1000 300 400 100 500 200 350 700 500 450 NIL 2 Crash Cost (5) 800 1600 500 800 200 800 1400 600 850 1000 800 Days Shortened ļ Time Difference Cost per Day Cost for Cycle Cost Difference (5) Total Cost S/Day Project Duration

Q3) The time and cost values for the project below are shown on the following page. a) Using the time-cost trade-off process shown in class, determine the logical steps to reduce the following project to its shortest duration. Use the tables provided on the following page. b) Draw bar charts for the project for both i. the normal project duration, and the crash project duration. c) Draw a graph (time vs. S) showing the cumulative cost profiles for both the normal project duration and the crash project duration. 3 Act. ID A B C D E F G H I J K Cycle # G Normal Time 1 7 6 3 3 7 8 7 5 3 5 Activity То Shorten Crash Time 1 4 4 2 1 5 4 6 3 2 4 Can be Shortened F 8 Normal Cost (5) 800 1000 300 400 100 500 200 350 700 500 450 NIL 2 Crash Cost (5) 800 1600 500 800 200 800 1400 600 850 1000 800 Days Shortened ļ Time Difference Cost per Day Cost for Cycle Cost Difference (5) Total Cost S/Day Project Duration

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...

See similar textbooks

Related questions

Q: managing the execution of a project.

A: The Steps for Spiral Model to Function: The new system specifications are laid forth in as much…

Q: Project monitoring and controlling is done throughout the life of a project and involves all 10…

A: The objective of the question is to understand the importance of monitoring and controlling in…

Q: List two outputs for each of the Project Risk Management processes (note that the Implement Risk…

A: Project Risk Management Processes: Project Risk Management Processes is very…

Q: A risk management plan that includes at least one major risk, one medium risk and one acceptable…

A: A project is defined as a collection of tasks that are undertaken with the motive of achieving…

Q: Explain the concept of "project portfolio analysis" and its role in strategic project management.…

A: Initiatives from ongoing projects as well as the demand management procedure are included in a…

Q: Explain what is needed by the company at the integration stage durning project management

A: The integration stage in project management is the coordination of all components of a project. This…

Q: Discuss the development phases of project team at Global Green Books Publishing in order to help…

A: Below is the solution:-

Q: Comment on the following aspects of the case study: a) What are some of the challenges facing…

A: Project manager:- An expert in project management is referred to as a project manager. Regardless of…

Q: Dr. Ell has been given a budget of $10,000 to organize a conference at her university in 3 months'…

A: This question is related to the project management subject and It falls under the…

Q: The Four Phases of Project Management

A: Project management is a wide field and includes many stages and processes. Each stage has its own…

Q: Why is it important for those who manage operations functions to understand project management…

A: The effective management of operations functions is critical for the success and competitiveness of…

Q: Explain how to define IT project management using tools and technologies.

A: Project management is described as the usage of the techniques, skills, and tools through values is…

Q: Discuss the integration of sustainability goals and Environmental, Social, and Governance (ESG)…

A: Sustainability has emerged as a crucial guiding concept for all types of enterprises, organisations,…

Question

I need solve this in project management

Q3) The time and cost values for the project below are shown on the following page.
a) Using the time-cost trade-off process shown in class, determine the logical steps to reduce
the following project to its shortest duration. Use the tables provided on the following page.
b) Draw bar charts for the project for both
i.
ii.
the normal project duration, and
the crash project duration.
c) Draw a graph (time vs. $) showing the cumulative cost profiles for both the normal project
duration and the crash project duration.
Act. ID
A
B
с
D
E
F
G
H
1
J
K
Cycle #
P
Normal Crash
Time Time
1
7
6
3
3
7
8
7
5
3
5
Activity
To
Shorten
1
4
4
2
1
5
4
6
3
2
4
Can be
Shortened
3
8
Normal
Cost (S)
800
1000
300
400
100
500
200
350
700
500
450
N.I.L.
2
Crash
Cost (5)
800
1600
500
800
200
800
1400
600
850
1000
800
Days
Shortened
Time
Difference
Cost per Cost for
Day
Cycle
Cost
Difference $/Day
($)
Total Project
Cost Duration

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2 - part a

Step 3

Step 4 - c

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 8 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

I'm unable to answer the following question? What is the total cost of crashing the project from its current duration down to 13 weeks?
Explain the principles of IT project management, including methodologies like Agile and Waterfall.
Research articles and tools on project portfolio management.Summarize the advantages of performing project portfolio management as well as challenges
Throughout the lifecycle of an IT/IS project, please define outsourcing and describe two benefits it offers to a business.
Global Green Books Publishing is continuing to grow. They now have three large customers, two in traditional print-based work and the third is a local college. They produce customized eBooks for this local college. This newest line of work is growing, as other customers hear of their work, and the account managers are speaking with several other colleges and professional associations about taking on additional projects in electronic publishing.As they have grown, they have had to start implementing some project management concepts to plan and manage their work. The founders hired Samantha as a project associate or project manager on a full-time basis to help them introduce project management practices and help them tide over the crisis they were experiencing with rapid growth. Within the first three months in her new role as PM, she introduced formal project management processes, created a PM manual and trained the employees to get the work done well. Within a year, the company was…
Analyze projects using network-planning models?
What are the primary components of process planning in project management, and how do they contribute to the successful execution of a project?
In Project Management, what is the executive summary when renovating a kitchen?
What feature in project management information systems can be used to resolve overallocation of project resources?
In project management why is float important?
Strategic planning is one of the several components of project management that a high functioning organisation requires to operate at their maximum operating level. Explain how the projects are linked to the Strategic plan?
List two benefits of outsourcing to a company during the development of an IT/IS project. Define outsourcing.