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The Texas Consolidated Electronics Company is contemplating a research and development program encompassing eight research projects. The company is constrained from embarking on all projects by the number of available management scientists (40) and the budget available for R&D projects ($300,000). Further, if project 2 is selected, project 5 must also be selected (but not vice versa). Following are the resource requirements and the estimated profit for each project:
Define the decision variables.
Develop the objective function.
Write the constraints.
Solve the problem in Excel.
Unless otherwise indicated, there is a 200 word minimum response required.
Build a Project Scoring Matrix, using some strategic goals that you feel are important to your company.
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Now measure the time it takes while working at a standard pace. Is your estimate within plus or minus 20 percent of the estimated time.
For firms that have multiple locations that would like their professionals from different teams to be able to collaborate efficiently
Review two of the project management software tools available via links in the course syllabus. Provide an overview of each software and decide if you will use either of the software for projects throughout the course and why. If you decide to use th..
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