Quality Consulting has two consultants, Alfred and Barbara that can be scheduled to work for clients up to a maximum of 170 hours each over the next four weeks. A third consultant, Charlie, has some administrative assignments already planned and is available for clients up to a maximum of 150 hours over the next four weeks. The company has four clients with projects in process. The estimated hourly requirements for each of the clients over the four- week period are: Client Hours A: 180 B: 75 C: 100 D: 85 Hourly rates vary for the consultant-client combination and are based on several factors, including project type and the consultant’s experience. The rates (dollars per hour) fo
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.
Quality Consulting has two consultants, Alfred and Barbara that can be scheduled to work for clients up to a maximum of 170 hours each over the next four weeks. A third consultant, Charlie, has some administrative assignments already planned and is available for clients up to a maximum of 150 hours over the next four weeks. The company has four clients with projects in process. The estimated hourly requirements for each of the clients over the four- week period are:
Client Hours
A: 180 B: 75 C: 100 D: 85
Hourly rates vary for the consultant-client combination and are based on several factors, including project type and the consultant’s experience. The rates (dollars per hour) for each consultant-client combination are as follows:
Client Consultant A B C D
Alfred 100 125 115 100
Barbara 120 135 115 120
Charlie 155 150 140 130
1) Develop a network representation of the problem. You may reference the Network Diagram Template .
2) Formulate the problem as a linear program, with the optimal solution providing the hours each consultant should be scheduled for each client to maximize the consulting firm’s billings. What is the
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