Determine the critical path, Business Economics

Assignment Help:

S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the plant's construction.

The total cost in completing the project in normal time is £2 million, excluding site overheads which are £8000 per week.

Table of Activities

Activity

Normal time (weeks)

Shortest time (weeks)

Reduction costs (per week)

1-2

6

4

£7000

1-3

8

4

£8000

1-4

5

3

£3000

2-4

6

3

£5000

2-5

5

3

£4000

3-6

10

8

£15,000

4-6

8

5

£6000

5-6

6

6

-

The board of directors of the company have asked you to produce a precedence (activity on node) diagram and to determine the following:

1. The critical path using normal times, the project's total duration and the total cost of completing the project.

2. The shortest time in which the project can be completed and the associated costs.

3. The lowest cost for which the project can be completed and the corresponding time.


Related Discussions:- Determine the critical path

Explain the mixed economy system, Explain the mixed economy system. Mix...

Explain the mixed economy system. Mixed economy: Several resources are owned through the public sector (government) and several resources are owned through the private sector o

What are social cohesion-social capital and social inclusion, What are soci...

What are social cohesion, social capital and social inclusion? Development economics importance the role of social capital, cohesion and inclusion into the process of developm

Why are markets considered as unsuitable for promoting, Why are markets con...

Why are markets considered as unsuitable for promoting development? The process of establishing a market system frequently includes radical reform which produces both winners

Compute the lp valuation, Consider another company, Lateco, which has just ...

Consider another company, Lateco, which has just received its fifth round of investment.  These rounds have been: Series A: CP ($5M FV) or converts to 5M shares of common. Se

Regional trade agreements, Question: There are currently some 421 Regio...

Question: There are currently some 421 Regional Trade Agreements (RTAs) around the world. These RTAs normally provide preferential treatment to member countries, which is again

Assignment, #question.During the 1990s, technological advance reduced the c...

#question.During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in t

Calculate the standard error, The Wallpaper Shop, Inc., is a rapidly growin...

The Wallpaper Shop, Inc., is a rapidly growing chain of wallpaper shops that caters to the do-it-yourself home remodeling market. During the past year, 15 stores were operated in s

gnp rises, If nominal GNP enhances at a rate of 10 per cent per year where...

If nominal GNP enhances at a rate of 10 per cent per year whereas the GNP deflator enhances at 8 per cent per year then show how much real GNP rises. Explain?

A transition economy, A  transition economy is Moving from a planned t...

A  transition economy is Moving from a planned to a mixed or free market economy.

What are the restrictions of lewis, What are the restrictions of Lewis? ...

What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves

Write Your Message!

Captcha
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