Describe the critical path using the cpm approach

Assignment Help Operation Management
Reference no: EM131284258

Discuss tools that are available for the planning and control of projects. These tools include WBSs, Gantt charts, and PERT/CPM networks.

In this assignment, you will design CPM and PERT networks to meet the requirements of an engineering firm. The firm needs solutions for the following problem:

One of the firm's existing projects needs to be completed earlier than planned. Use the following data and the critical path and PERT methods to answer the questions that follow. Use the "most likely time" estimate (m) as the time estimate for the CPM analysis.

Activity

Immediate Predecessors

Times in Days

a

m

b

A

None

1

3

5

B

None

1

2

3

C

A

1

2

3

D

A

2

3

4

E

B

3

4

11

F

C, D

3

4

5

G

D, E

1

4

7

H

F, G

2

4

6

• Draw the network.
• Describe the critical path using the CPM approach.
• Analyze what the estimated completion time using the CPM approach is.
• Analyze what the estimated completion time using the PERT approach is.
• Assess why the estimated completion times are not identical in the two approaches.

Under what circumstances would the CPM approach to developing a project plan be more appropriate? Under what circumstances would the PERT approach be more appropriate?

Reference no: EM131284258

Questions Cloud

Budgeted sales for the first three months of business : Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $320,000, and $410,000, respectively, for September, October, and November. The company expects to sell 25% ..
Second-price sealed-bid auction : A seller uses a second-price sealed-bid auction to sell a painting to two bidders. The seller claims that the painting was drawn by a famous painter, say Monet. Both bidders are not sure about the seller's claim, and think that the probability of ..
How can a nation achieve competitive advantage : How can a nation achieve competitive advantage?- How can a company measure its competitive advantage?- Cite a global company and its source of competitive advantage.
Compute the weighted average cost of capital of the firm : Nike has 100 million shares of preferred stock outstanding, 475 million shares of common stock outstanding, and the face value of their debt on the balance sheet is $12 billion. Their 20-­-year debt has a 3.5% coupon rate and the latest quote on thei..
Describe the critical path using the cpm approach : Describe the critical path using the CPM approach. Analyze what the estimated completion time using the CPM approach is. Analyze what the estimated completion time using the PERT approach is.
How should equipment classify lease in accounting records : Darr Equipment Inc. is a company based in Irving, TX, that manufactures and supplies earthmoving and construction equipment. Darr Equipment either sells the equipment to customers or leases it under terms specific to a customer’s needs. Provide the j..
Write a brief overview of law which hr must know : Write a brief overview of each law about which HR must be knowledgeable. This may be in an outline format. State the laws then write a paragraph that is a synopsis of the law.
Outline porters five forces model of industry competition : Outline Porter's five forces model of industry competition. How are the various barriers to entry relevant to global marketing?
Decreases in gross domestic product : Decrease in money supply also means less consumer spending. These results in shifting the aggregate demand. In what ways can we counter-balance the shifting of AD to the left? What happens in we have expansionary monetary policy.

Reviews

Write a Review

Operation Management Questions & Answers

  Explain the role of ethics and social responsibility

Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Explain how your ethical perspective has evolved throughout the program.

  What are the potential ethical and conflict of interest

What are the potential ethical and conflict of interest issues arising from CEO involvement in the selection of board members? How can these issues be addressed?

  Firm plans to begin production of a new small appliance

A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor at $7 each or to produce them in-house. Either of two processes could be used for in-house production;

  How can you use this same style of leadership in your life

Identify a person that you consider to be a leader. What type of leadership does this person use to accomplish their goals (cite specific examples)? How can you use this same style of leadership in your life? In what ways are organizations and their ..

  Calculate the inventory carrying cost associated

Helter Industries, a company that produces a line of women's bathing suits, hires temporaries to help produce its summer product demand. For the current four-month rolling schedule, there are three temps on staff and 12 full-time employees. Calculate..

  Determine the powers created by a general power of attorney

determine the powers created by a "general power of attorney" in colorado. Summarize the powers created by a general power of attorney, and express your reasoned opinion as to whether these powers are too broad and far-reaching.

  When should the raw material be reordered

Usage of the material during lead time is normally distributed with a mean of 42 pounds also a standard deviation of 4 pounds. When should the raw material be reordered if the acceptable risk of a stock out is 3percent.

  The use of a debit card for the collection of tolls

A toll tunnel has decided to experiment with the use of a debit card for the collection of tolls. Initially, only one lane will be used. Cars are estimated to arrive according to an Poisson distribution with a mean rate of 700 vehicles per hour. It w..

  Seaburg construction company, formed

Seaburg Construction Company, formed in 1950by James Seaburg, was initially en­gaged in residential construction in Mobile, Alabama.Later, Mr. Seaburg's business was expanded to include the construction of of­ficebuildings and apartment complexes. In..

  Explain the steps of the graphical solution procedure

explain the steps of the graphical solution procedure for minimization problem?

  What kind of conrol systems are being used to measure

what kind of conrol systems are being used to measure the perfromans of hospitals and their different kinds of employees such as doctors and nurses ?

  Why project management has become such a popular business

Discuss the principal reasons why project management has become such a popular business tool in recent years.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd