OPERATIONS MANAGEMENT CONNECT AC
14th Edition
ISBN: 9781264592784
Author: Stevenson
Publisher: MCG
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Textbook Question
Chapter 17, Problem 7P
Three recent college graduates have formed a
a. Draw the precedence diagram.
b. What is the probability that the project can be completed in 24 days or less? In 21 days or less?
c. Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21.
d. The partners have decided that shortening the project by two days would be beneficial, as long as it doesn’t cost more than about $20,000. They have estimated the daily crashing costs for each activity in thousands, as shown in the following table. Which activities should be crashed, and what further analysis would they probably want to do?
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Students have asked these similar questions
Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table.
a.
Draw the precedence diagram.
b.
What is the probability that the project can be completed in 24 days or less?
c.
Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24.
TIME IN DAYS
Activity
Precedes
Optimistic
Most Likely
Pessimistic
A
—
5
6
7
B
—
8
8
11
C
A
6
8
11
D
-
9
12
15
E
C
5
6
9
F
D
5
6
7
G
F
2
3
7
H
B
4
4
5
I
H
5
7
8
End
E,G,I
d.
The partners have decided that shortening the…
Three recent college graduates have formed a partnership and have opened an advertising firm.Their first project consists of activities listed in the following table.a. Draw the precedence diagram.b. What is the probability that the project can be completed in 24 days or less? In 21 days or less?c. Suppose it is now the end of the seventh day and that activities A and B have been completedwhile activity D is 50 percent completed. Time estimates for the completion of activity D are5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing theproject by day 24 and the probability of finishing by day 21.TIME IN DAYSActivityImmediatePredecessor Optimistic Most Likely PessimisticA — 5 6 7B — 8 8 11C A 6 8 11D — 9 12 15E C 5 6 9F D 5 6 7G F 2 3 7H B 4 4 5I H 5 7 8End E, G, Id. The partners have decided that shortening the project by two days would be beneficial, as longas it doesn’t cost more than about $20,000. They have estimated the daily crashing costs for…
The following represents a project that should be scheduled using CPM
a. Complete the table
b. Draw the Network Diagram
c. What is the critical path?
d. What is the expected project completion time?'
e. What is the probability of completing this project within 16 days?
Chapter 17 Solutions
OPERATIONS MANAGEMENT CONNECT AC
Ch. 17.3 - Will the AI technology render project managers...Ch. 17.3 - Prob. 1.2RQCh. 17 - A project manager may need two skill setsthose of...Ch. 17 - Explain the term project champion and list some...Ch. 17 - List the steps in risk management.Ch. 17 - Give some examples of ethical issues that may...Ch. 17 - What are the key advantages of using project...Ch. 17 - What is a work breakdown structure, and how is it...Ch. 17 - Identify the term being described for each of the...Ch. 17 - List the main advantages of PERT. List the main...
Ch. 17 - Why might a probabilistic estimate of a projects...Ch. 17 - Define each of these terms, and indicate how each...Ch. 17 - Why might a person wish to be involved with a...Ch. 17 - Prob. 12DRQCh. 17 - What are some aspects of the project managers job...Ch. 17 - What is the main benefit of a project organization...Ch. 17 - What trade-offs are associated with time and cost...Ch. 17 - Who needs to be involved in assessing the cost of...Ch. 17 - Prob. 3TSCh. 17 - Project management techniques have been used...Ch. 17 - Give three examples of unethical conduct involving...Ch. 17 - For each of the following network diagrams,...Ch. 17 - Chris received new word processing software for...Ch. 17 - Prepare a Gantt chart for each of the following in...Ch. 17 - a. Develop a list of activities and their...Ch. 17 - For each of the problems listed, determine the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Three recent college graduates have formed a...Ch. 17 - The new director of special events at a large...Ch. 17 - Prob. 9PCh. 17 - The project described in the following table is...Ch. 17 - The following precedence diagram reflects three...Ch. 17 - A project manager has compiled a list of major...Ch. 17 - Here is a list of activity times for a project as...Ch. 17 - The project manager of a task force planning the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Chucks Custom Boats (CCB) builds luxury yachts to...Ch. 17 - Prob. 17PCh. 17 - Create a risk matrix in the style of Figure 17.13...Ch. 17 - Create a risk matrix for this project: Explain...Ch. 17 - B. Smitty Smith is a project manager for a large...
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- Key: A is optimist time, M is the most likely time and B is the pessimistic time. i). Calculate the expected time for each activity ii. Draw a Gantt Chart from the same information above iii. State the critical path and the maximum number of weeks the project will take to be completed. iv. Discuss the pros and cons of using the Gantt chart as a planning and scheduling tool?arrow_forwardIMPORTANT NOTE: All Project Management Questions are from the same Project. You only need to solve the project one time. The CEO of Carol O'Lights Manufacturing, produces custom-built relay devices for auto makers. The most recent project undertaken by Ms. O'Lights requires 11 different activities. The activities necessary to build an experimental relay model and related data are given in the following table. What is the Early Start on Activity G?arrow_forwardRecently, you were assigned to manage a project to remodelthe seminar room for your company. You have constructed anetwork diagram depicting the various activities in the project(Figure 7.13). In addition, you have asked your team to estimatethe amount of time that they would expect each of the activitiesto take. Their responses are shown in the following table: a. What is the expected completion time of the project?b. What is the probability of completing the project in 21 days?c. What is the probability of completing the project in 17 days?arrow_forward
- A) What is the critical path B) what is the expected completion time for the project? C) What is the expected or mean completion time for activity B ? D) what is the expected or mean completion time for activity F ?arrow_forwardThe following eight activities constitute an overall bar chart portrayal of a 4-month project. Two months after the start of the project. Activities A, C, D are completed, E is 50% complete and B is 25% complete. The total cost that has been spent is $10,500. For this project, using earned value concepts, determine the schedule and cost variance. Is the project ahead or behind schedule? Over or under budget? Activity A B VAHE с D F Cost $2,000 $8,000 $2,000 $5,000 $1,000 $15,000 Month 1 Month 2 Month 3 Month 4arrow_forwardThree recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. Use Table B. ΤΙME IN DAYS Immediate Activity Predecessor Optimistic Most Likely Pessimistic A 7 B 8 8 11 C A 6 8 11 9. 12 15 E 6 F D 7 G F 2 3 7 H B 4 4 I H 7 8 End E, G, I Click here for the Excel Data File a. What is the probability that the project can be completed in 24 days or less? In 21 days or less? (Round your te and z values to 2 decimal places and "Standard deviation" to 3 decimal places. Round your final answers to 4 decimal places.) Days Probability 24 days or less 21 days or lessarrow_forward
- A given task was estimated to cost $15,750 to complete. Currently, the project team has completed approximately 65% of the task, and have spent $10,500. a. Determine the indices: AC, PV, and EV b. Derive the values for cost and schedule variances, as well as cost performance and schedule performance indices. Is this project ahead or behind on schedule, and is it ahead or behind on budget?arrow_forwardPlease do not give solution in image format thanku Please answer for all of the activitiesarrow_forwardA) What is the variance activity B? 2 decimal places B) What is the variance of activity F? 2 decimal places C) what is the probability the project can be completed? 4 decimals places only D) what is the probability the project will be 3 weeks late from the expected completion time ? 4 decimal places only.arrow_forward
- GreenzTech Inc. is planning on installing a new computerised accounting system. For thisproject, they have established the following activities, precedence relationships, and timeestimates in weeks:a. Draw the network diagramb. Calculate the expected time for each activity.c. Calculate the variance of each activityd. Based on the calculation of estimated times, what is the critical path?e. What is the estimated time of the critical path?f. What is the activity variance along the critical path?g. What is the probability of completion of the project within 50 weeks or less?arrow_forwarda. What is the project's duration if only normal times are used? b. What is the minimum-cost schedule? With the minimum-cost schedule, the project duration is ____day(s).?arrow_forwardThe new director of special events at a large university has decided to completely revamp graduation ceremonies. Toward that end, a PERT chart of the major activities has been developed. Thechart has five paths with expected completion times and variances as shown in the table. Graduation day is 16 weeks from now. Assuming the project begins now, what is the probability that theproject will be completed beforea. Graduation time?b. The end of week 15?c. The end of week 13?PathExpected Duration(weeks) VarianceA 10 1.21B 8 2.00C 12 1.00D 15 2.89E 14 1.44arrow_forward
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