Reference no: EM13991251
Project Management - Quatitative Analysis 3-5
Task 3: Review the attached "QAT1 Task 3 Spreadsheet" and, using the instructions given in parts A-C, provide a brief response.
A. Determine the order size for Company A in the scenario found in the attached "QAT1 Task 3 Spreadsheet" that would minimize total annual cost by using the economic order quantity model, showing all of your work.
1. Identify what Company A should do with the information determined in part A.
B. Determine the lot size for Company B in the scenario found in the attached "QAT1 Task 3 Spreadsheet" that would minimize total annual cost by using the economic production lot size model, showing all of your work.
1. Identify what Company B should do with the information determined in part B.
C. When you use sources, include all in-text citations and references in APA format. I have attachedd
Note: When using sources to support ideas and elements in an assessment, the paper MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or paraphrased in the text of the assessment
Task 4: Prepare a program evaluation and review technique (PERT) chart and apply critical path method (CPM) techniques.
Scenario:
Company A is installing a web-based customer feedback system to meet customer needs for quick response when rolling out new products. A new product line is rolling out in 48 weeks, and the customer feedback system must be installed and running in time for the new product launch. Table 1.1 in the attached "QAT1 Task 4 Spreadsheet" shows three estimates of the time it will take Company A to complete each of the project activities in the customer feedback system project: optimistic, probable, and pessimistic.
Company B is installing a similar feedback system to accompany a new product line and just announced that its new product line is ahead of schedule and will be launched in 45 weeks. Because the web-based customer feedback system must be installed and running in time for the revised date of the product launch in 45 weeks, something must be done to shorten implementation time required for the customer feedback system project. Refer to Table 1.2 in the attached "QAT1 Task 4 Spreadsheet" that lists the time it will take to complete the activities using normal resources (normal time), the expected time it will take to complete the activities if shortened as much as possible (crash time), the cost to complete the activity using normal resources (normal cost), and the cost of completing the activity on an accelerated basis (crash cost).
Requirements:
A. Determine the following using the estimates for Company A in Table 1.1 from the attached "QAT1 Task 4 Spreadsheet":
1. Determine the expected completion time for each of the nine project activities.
a. Include all your answers for part A1 in Table 1.1, showing all of your work for one activity.
2. Determine the variance for each of the nine project activities.
a. Include all your answers for part A2 in Table 1.1, showing all of your work for one activity.
3. Develop a PERT chart showing the network diagram with the activities and their expected times.
a. Identify the critical path.
Note: Any additional numbers (e.g. start and finish times) included in the PERT chart will not be evaluated for correctness.
Note: If you don't have software to build a PERT chart, use text boxes and lines with arrows in a word processing program or a spreadsheet program.
4. Determine the value of each of the following:
a. Determine the expected duration of the entire project, showing all of your work or reasoning.
b. Determine the slack for project Activity E, showing all of your work or reasoning.
c. Determine the slack for project Activity C, showing all of your work or reasoning.
d. Determine the earliest week project Activity F is scheduled to start, showing all of your work or reasoning.
e. Determine the latest week project Activity G is scheduled to finish, showing all of your work or reasoning.
Note: Work or reasoning must be included along with each response. Referencing a value in the PERT chart is not considered showing work. Please explain how each value was determined.
5. Determine the probability of completing this project in time for the product launch in 48 weeks, showing all of your work.
B. Determine the following using the data for Company B in Table 1.2 from the attached "QAT1 Task 4 Spreadsheet":
1. Determine the maximum reduction in time for each of the ten project activities.
a. Include your answers for part B1 in Table 1.2, showing all of your work for one activity.
2. Determine the crash cost per week for each of the ten project activities.
a. Include your answers for part B2 in Table 1.2, showing all of your work for one activity.
C. Determine the following by using your results from part B:
1. Identify the activities, considering all paths, to be crashed to meet the following criteria:
• completion of the project within 22 weeks
• achievement of the lowest possible cost
2. Determine the number of weeks each of the activities identified in part C1 should be crashed.
3. Determine the sum of the individual costs of crashing each activity identified in part C1.
D. When you use sources, include all in-text citations and references in APA format.
Note: When using sources to support ideas and elements in an assessment, the paper MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or paraphrased in the text of the assessment.
Note: No more than a combined total of 30% of a paper can be directly quoted or closely paraphrased from outside sources, even if cited correctly
Task 5: A company is considering alternatives for improving profits: either develop new products or consolidate existing products. If the company decides to develop new products, it can either develop several products rapidly or take time to develop a few products more thoroughly. If the company chooses to consolidate existing products, it can either strengthen the products to improve profits or simply reap whatever gains are attainable without investing more time and money into the products.
Scenario:
The decision tree chart provided in the attached "QAT1 Task 5 Spreadsheet" shows the predicted gains from each decision alternative described above. Gains depend on how the market reacts to the action taken by the company. The probability of each market reaction is shown on the decision tree.
A. Develop a response to the decision tree chart from the attached "QAT1 Task 5 Spreadsheet" in which you do the following:
1. Determine the expected value for each of the four decision branches.
a. Describe the process used to reach the solutions you determined in part A1.
2. Determine the decision alternative that has the most favorable expected value.
a. Compare the expected values of the decision alternatives.
B. When you use sources, include all in-text citations and references in APA format.
Note: When using sources to support ideas and elements in an paper, the submission MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing.