MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains
11th Edition
ISBN: 9780133885583
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
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Chapter 7, Problem 4C
Summary Introduction
Interpretation: The project report of each activity is to be prepared and the projected cost and weekly project cost is to be determined.
Concept Introduction: Process strategy guides the pattern of decisions. In this strategy, the managing processes will achieve their competitive priorities.
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Sometimes, in an effort to control project schedule, it is possible that a project manager may resort to developing a project schedule by starting at the end of a project end date and working back toward the beginning. In doing that, the project manager may attempt to identify and estimate the activities' duration that would eventually add up to the amount of time that the project is estimated to take. While this may seem like a reasonable approach to developing a project schedule, it is possible that using this strategy may substantially decrease the chances that the project will meet its schedule. Do you think this approach to developing a project schedule is the right one to use? Discuss the rationale for your answer. Discuss the reasons why this approach could substantially decrease the chances of the project meeting its schedule.
What are the critical activities or tasks in the project—that is, which activities will delay the entire project if they are late?
You have been assigned as a Project Manager in your Company. Your Sponsor wants Project Budget to be ready in 2 weeks. You are working with your team to estimate costs. However, your team does not know what tools and techniques they can use. Explain all the tools and techniques that you could use with your team.
Chapter 7 Solutions
MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains
Ch. 7 - One of your colleagues comments that software is...Ch. 7 - Explain how to determine the slack for each...Ch. 7 - Define risk as it applies to projects. What are...Ch. 7 - Consider the following data for a project to...Ch. 7 - The following information is known about a project...Ch. 7 - A project for improving a billing process has the...Ch. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 7P
Ch. 7 - Prob. 8PCh. 7 - Prob. 9PCh. 7 - The following information concerns a project to...Ch. 7 - Consider a project to produce custom door moldings...Ch. 7 - Table 7.5 contains information about au...Ch. 7 - The Advanced Tech Company has a project to design...Ch. 7 - Prob. 14PCh. 7 - Prob. 15PCh. 7 - Prob. 16PCh. 7 - Prob. 17PCh. 7 - Prob. 18PCh. 7 - Prob. 19PCh. 7 - Prob. 20PCh. 7 - Recently, you were assigned to manage a project to...Ch. 7 - In Solved Problem 2, estimate the probability that...Ch. 7 - The director of continuing education at Bluebird...Ch. 7 - Gabrielle Kramer, owner of Pet Paradise, is...Ch. 7 - The project manager of Good Public Relations...Ch. 7 - Consider the office renovation project data in...Ch. 7 - Activity B and activity K are critical activities....Ch. 7 - Prob. 2AMECh. 7 - Prob. 3AMECh. 7 - Prob. 4AMECh. 7 - Prob. 5AMECh. 7 - Assess the four categories of a risk-management...Ch. 7 - Prob. 2VCCh. 7 - Assume you are Denise Tower and have...Ch. 7 - Prob. 1CCh. 7 - Prob. 2CCh. 7 - Prob. 3CCh. 7 - Prob. 4C
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Develop a WBS to reflect the scope of this project, showing the dependencies of the activities. Apart from preventing scope creep, what are some of the other benefits from having a WBS? You realize you will also need a Schedule Management Plan. Describe what is a Schedule Management Plan and state why it is necessary to have such a plan.arrow_forwardDiscuss the importance of project scheduling as well as the difficulties that can arise as a result of it. As requested, please discuss, describe, and define.arrow_forwardThe company decided that the project in the previous problem had to be expedite in order to optimize (minimize) the project cost. Expediting can be used to trade direct cost for indirect cost, since expediting reduces the indirect cost of the project by a fixed amount per day, while expediting an activity increases its total direct cost. The Accounting Department found that indirect costs amount to $100 per day, while activity direct costs as well as their normal and expedited times are given in the table below. Activity Duration (Days) Expedited Time (Days) Normal Direct Cost ($) Expedited Direct Cost ($) A 32 26 200 500 B 21 20 300 375 C 30 30 200 200 D 45 40 200 800 E 26 20 700 1,360 F 28 24 1,000 1,160 G 20 18 400 550 What is the optimal time to complete the project? What is the optimal project cost?arrow_forward
- At times, in order to monitor the project planning, a project manager can resort to the development of a project planning by starting at the end of the project and back to the beginning. Which allows the project manager and try to identify and measure the length of the tasks that will potentially require up to the period of time the project is scheduled to take. Although this might seem to be a rational solution to preparing a project plan, the use of this tactic may significantly decrease the likelihood that the project meets its deadline. If you think that this strategy is right to build a project schedule? Talk about the rationale behind your reply. Discuss that this plan will significantly reduce the likelihood that the project would reach its deadlinearrow_forwardAccording to Goldratt’s critical chain theory, what should you do in order to reduce risk in project schedules? A: Start activities in the feeder chains as late as possible. B: Add buffers to the critical chains. C: Start activities in the critical chains as early as possible. D: Start activities in the feeder chains as early as possible. 2. You are adding duration buffers that are non-workable schedule activities to manage uncertainty in your project schedule. What tool or technique are you using? A: Parametric estimating B: Critical path method C: Three-point estimating D: Critical chain methodarrow_forwardYour project to obtain charitable donations is now 30 days into a planned 40-dayproject. The project is divided into 3 activities. The i rst activity is designed to solicitindividual donations. It is scheduled to run the i rst 25 days of the project and to bring in $25,000. Even though we are 30 days into the project, we still see that we have only 90 percent of this activity complete. The second activity relates to company donations and is scheduled to run for 30 days starting on day 5 and extending through day 35. We estimate that, even though we should have 83 percent (25y30) of this activity complete, it is actually only 50 percent complete. This part of the project was scheduled to bring in $150,000 in donations. The i nal activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,000. So far $175,000 has actually been brought in on the project. Calculate the schedule…arrow_forward
- Joe and Noël have just gotten engaged. Seeing as they are both business students, they thought that they’d try to plan out their wedding preparation as a project. Here’s the WBS they’ve determined is necessary for a simple but elegant wedding. Assume all durations are deterministic. Although perhaps not realistic to real wedding planning, use the standard calendar in ProjectLibre (use default working days in software). Based on the project you created, answer the following questions. Please note that each question is independent and not built upon each other. a) If Joe and Noël start wedding planning on January 1, 2023, when is the wedding day? b) What is the critical path? List all critical tasks in chronological order. c) Will the critical path change if Noël decides she needs two extra weeks for the Bridal Diet? If yes, what is the new critical path and when should the wedding be held? d) Assume that band auditions take twice as long as expected. Does this affect the…arrow_forwardThe entire process of project time management can be enhanced considerably by scheduling periodic meetings. What is the objective of such a meeting, and who should participate?arrow_forwardWhy is cost estimation such an important component of project planning? Discuss how it links together with the Work Breakdown Structure and the project schedule.arrow_forward
- Project Manager (PM) Alyssa starts a job for which she makes a detailed plan. The project deliverables, the funding, and the delivery date are all included in the plan. She presents the proposal to management, who then approves it. However, scope creep causes the project's scope to grow as it goes along. What would you do to make the project deadlines?arrow_forwardWe reduce Activity B to 4 weeks on each of the six houses.What affect will that have on the project completion time? Show work on the template provided. The x axis is the number of houses The y axis is time (number of weeks)arrow_forwardYou are the project manager of the software installation project in Table 7.12. You would like to find the minimum-cost schedule for your project. There is a $1,000-per-week penalty for each week the project is delayed beyond week 25. In addition, your project team determined that indirect project costs are $2,500 per week.a. What would be your target completion week?b. How much would you save in total project costs with your schedule?arrow_forward
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