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Christopher Parmentier February 18, 2014

ME 372 Project Management Assignment 3, due by 3pm Feb. 19, 2014

1. Using the project network, develop a resource schedule in the loading chart that follows. Note: Activities 2, 3, 5, and 6 use two of the resource skills. Three of the resource skills are available.

Scheduling criteria:

   Minimum slack Smallest duration Lowest ID number
Minimum slack
Smallest duration
Lowest ID number
 

Resourc

es

ID

Needed

Dur

ES

LF

SL

  • 1 1

1

0

3

2

  • 2 2

3

0

3

0

  • 3 2

4

3

7

0

  • 4 1

5

3

8

2

 
  • 5 2

 

3

7

10

0

  • 6 2

2

10

13

1

 

0

1

2

3

4

5

6

7

8

 

9

10

11

12

13

Tas

Budg

k

et

1

24

1

2

30

2

2

2

3

10

2

2

2

2

4

64

1

1

1

1

1

5

30

2

2

2

6

36

6 36
6 36
6 36
6 36
6 36
6 36
6 36

2

2

6 36
 

Resources

3

 

2

 

2

 

3

3

 

3

 

3

 

3

 

2

 

2

 

2

2

 

Scheduled

Resources

3

3

3

3

3

3

3

3

3

3

3

3

 

3

Available

List the order in which your activities are scheduled:

Task 1

Task 2

Task 3 and Task 4

Task 5

Task 6

What is the schedule slack for 1, 3 and 4? The scheduled slack for task 1 is 2 days, task 3 is 0 days, and task 4 is 2 days.

Which activities are critical now? The critical path is the same as it was before.

How has slack changed for each activity? changed? Why?

Has the risk of being late

The slack has not changed for Task 1 or 2. However task 3 had a change in slack from 3 to 0 days. Task 4 gained 2 days of slack and task 5 no longer has any slack. Task 6 also gained 1 day of slack if we allow the project to be finished on day 13. Changes were due to the limited amount of resources available each day. The risk of being late has change because of the same reason. The limited amount of available leads to a higher risk of being late.

2. Given the time-phased work packages and network, complete the baseline budget form for the project.

Task

ID

Dur

ES

EF

LS

LF

SL

Design

prototyp

1

2

0

2

0

2

0

Build

prototyp

2

3

2

5

2

5

0

Order

parts

3

2

5

7

7

9

2

Prepare

4

4

5

9

5

9

0

producti

prepare

10

6

 

marketin

5

5

5

11

1

Assembl e & test

6

2

9

11

9

11

0

Launch

7

1

11

12

11

12

0

Time Phased Budget Week 0 1 2 3 4 5 6 7 8 9 10 11

Time Phased Budget

Week

0 1 2 3 4 5 6 7 8 9 10 11 12 13 Bud Task
0
1
2
3
4
5
6
7
8
9
10
11
12
13
Bud
Task
get
Design
12
12
prototyp
24
Build
10
10
10
prototyp
30
Order
5
5
parts
10
Prepare
16
10
22
16
producti
64
prepare
6
6
0
6
12
marketi
30
Assembl
e & test
18
18
36
12
Launch
12
12
12
10
10
10
27
21
22
22
30
18
12
Total
206
12
24
34
44
54
81
102
124
146
176
194
206
Cumulative12
  • 3. Problems from Economic Analysis book: 2.53, 2.54, 3-3,3-10

  • a. 2.53 (may be done in Excel, but must be done by hand on a test)

Bonka Toys 500 0 1 2 3 -500 -1000 -1500 -2000 -2500 -3000
Bonka Toys
500
0
1
2 3
-500
-1000
-1500
-2000
-2500
-3000
  • b. 2.54 (may be done in Excel, but must be done by hand on a test)

Pine Village Recreation Field 250000 200000 150000 100000 50000 0 1 2 3 -50000 -100000
Pine Village Recreation Field
250000
200000
150000
100000
50000
0
1
2 3
-50000
-100000
  • c. 3.3 (not in Excel) Total Interest = $5350 - $5000 = 350

    • 350 = P * i * n

    • 350 = 5000 * 0.08 * n

n = 0.875

 

7

n =

8

10.5

n =

12

The loan had been outstanding for 10 and a half months.

  • d. 3.10 (not in Ecel) F = P

(1+i) n

2=1(1+0.04) n

 

log(2) = n * log(1.04)

 

log(2)

n =

log (1.04)

n = 17.673 n18 years

It will take approximately 18 years for an investment to double at 4% compounded annually.

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